Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: OKX against Bybit+0.076%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.076%, 7d avg +0.018%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.058% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2098	0.0100	pay 0.0050% / 4h	1h 10m	$87.2M	$190.5M	50x
Short	OKX ENA-USDT-SWAP	0.2099	0.0100	get 0.0050% / 4h	1h 10m	$20.3M	$111.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee OKXbpOrdersPrice spread, now +0.076%Rate

Funding earned: $0
Price spread: +0.076% → +0.018%: $5.83
Slippage, 4 orders: −$18.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.02
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; OKX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 4 min ago	0.24 bp	8.1 bp −$8	15.4 bp −$154	55.0 bp −$5,503	doesn't fit
Sell OKX live order book, 4 min ago	0.24 bp	10.2 bp −$10	18.5 bp −$185	doesn't fit	doesn't fit

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ENA_USDC	−0.0042%	4h	0.2097	−0.043%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0026%	1h	0.2101	+0.172%	$371K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.005%	$91K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2097	−0.019%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.225%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2099	+0.058%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	−0.081%	$61K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	−0.067%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	+0.017%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	+0.077%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2098	+0.022%	$406K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.022%	$129.5M	$454.7M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2098	long leg	$87.2M	$190.5M	50x
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2099	+0.076%	$20.3M	$111.3M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.114%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	+0.014%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	+0.075%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	−0.048%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	−0.029%	$46.5M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	−0.005%	$23.9M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2095	−0.129%	$47.4M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2097	−0.052%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.025%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	−0.100%	$249K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	−0.095%	$350K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.081%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.038%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.431%	$1K	$816K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	+0.014%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.086%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.033%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.010%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2098	+0.010%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2097	−0.010%	$4K	$332	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0245% / S −0.0422%	1h	0.2096	−0.069%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	+0.043%	$5.5M	$8.0M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2097	−0.054%	$1.6M	$4.1M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.092%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2101	+0.143%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.114%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2100	+0.095%	$110.9M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1981%	1h	0.2098	+0.004%	$139K	$15K	5x	as long as short