Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: ApeX Omni against Gate+0.409%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.501%−$50 · spread now +0.409%, 7d avg +0.073%

Together, before fees−0.478%−$48 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: ApeX Omni is 0.336% dearer against Gate than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2101	0.0100	pay 0.0050% / 4h	3h 12m	$11.2M	$22.4M	50x
Short	ApeX Omni ENAUSDT	0.2110	0.0100	get 0.0013% / 1h	12m 42s	$20K	$650K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.409%Rate

Funding earned: $0
Price spread: +0.409% → +0.073%: $33.58
Slippage, 4 orders: −$50.67
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$42.09
Costs to cover: 0.757%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; ApeX Omni: live order book, 40 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 Gate live order book, 1 min ago	3.57 bp	18.6 bp −$19	34.4 bp −$344	57.4 bp −$5,744	96.6 bp −$48.3K
Sell ApeX Omni live order book, 40 min ago	11.83 bp	20.8 bp −$21	148.6 bp −$1,486	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	−0.0124%	4h	0.2102	+0.038%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0072%	1h	0.2103	+0.076%	$358K	$400K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	+0.062%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2103	+0.078%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2104	+0.133%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.047%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2103	+0.076%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2104	+0.122%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2103	+0.064%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2102	+0.045%	$1.4M	$3.2M	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	0.2104	+0.112%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2101	+0.001%	$127.3M	$413.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2101	−0.010%	$84.9M	$174.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	+0.038%	$20.9M	$103.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	+0.124%	$22K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2105	+0.171%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.069%	$92K	−$0	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2101	long leg	$11.2M	$22.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2102	+0.010%	$45.5M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	+0.062%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2100	−0.052%	$47.7M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2102	+0.033%	—	$31.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2106	+0.209%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	+0.209%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	+0.219%	$348K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2110	+0.409%	$20K	$650K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2103	+0.081%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2052	−2.360%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	+0.029%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.214%	$272K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	+0.029%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.024%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2103	+0.057%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2104	+0.133%	$8K	$274K	10x	as long as short
Hyperliquid ENA	+0.0118%	1h	0.2104	+0.109%	$114.3M	$74.1M	10x	as long as short
Lighter ENA	+0.0168%	1h	0.2103	+0.067%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2104	+0.108%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2103	+0.066%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	+0.043%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2102	+0.034%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.357%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1099%	1h	0.2104	+0.115%	$139K	$15K	5x	as long as short