Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against edgeX+0.163%54s7-day average +0.006% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.388%−$39 · spread now +0.163%, 7d avg +0.006%

Together, before fees−0.397%+ Points / potential airdropedgeX: Active · Ondo Perps: Active · farm board−$40 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: Ondo Perps is 0.158% dearer against edgeX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.006%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2121	0.0100	pay 0.0050% / 4h	2h 50m	$244K	$7.5M	20x
Short	Ondo Perps ENA-USD.P	0.2124	0.0100	get 0.0013% / 1h	50m 41s	$17K	$408K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against edgeX. 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 edgeXbpFee Ondo PerpsbpOrdersPrice spread, now +0.163%Rate

Funding earned: $0
Price spread: +0.163% → +0.006%: $15.76
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $1.76
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: edgeX: live order book, 3 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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 edgeX live order book, 3 min ago	7.09 bp	11.6 bp −$12	13.1 bp −$131	44.0 bp −$4,399	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	+0.262%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	+0.212%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2125	+0.196%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.111%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2126	+0.220%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2126	+0.253%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.187%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+0.165%	$700K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+0.364%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.305%	$418K	$548K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2128	+0.306%	$132.4M	$444.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2127	+0.295%	$87.2M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.324%	$21.1M	$109.3M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2124	+0.163%	$17K	$408K	5x
Arcus ENA-USD	+0.0100%	1h	0.2129	+0.376%	$116K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.297%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	+0.225%	$10.8M	$20.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2128	+0.314%	$44.9M	$43.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.328%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	+0.248%	$48.2M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2127	+0.300%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2127	+0.291%	$368K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2125	+0.197%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2121	long leg	$244K	$7.5M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.146%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.234%	$32K	$689K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	+0.244%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.241%	$1K	$843K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	+0.234%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.376%	$275K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.281%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.319%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.219%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0176%	1h	0.2129	+0.385%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.228%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0251%	1h	0.2127	+0.301%	$2.7M	$5.0M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2126	+0.227%	$51K	—	100x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2126	+0.235%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.272%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	+0.178%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0520%	1h	0.2130	+0.418%	$114.7M	$74.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2123	+0.088%	$834K	$1.7M	50x	as long as short