Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: ApeX Omni against GRVT+0.088%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$710.712% of the position

Long on GRVT Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.088%, 7d avg +0.005%

Together, before fees−0.085%+ Points / potential airdropGRVT: Active · farm board−$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: ApeX Omni is 0.083% dearer against GRVT than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ENA_USDT_Perp	0.2124	0.0100	pay 0.0050% / 4h	2h 50m	$356K	$4.8M	10x
Short	ApeX Omni ENAUSDT	0.2126	0.0100	get 0.0013% / 1h	50m 17s	$32K	$689K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now +0.088%Rate

Funding earned: $0
Price spread: +0.088% → +0.005%: $8.28
Slippage, 4 orders: −$52.17
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$62.89
Costs to cover: 0.712%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; ApeX Omni: live order book, 18 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 GRVT live order book, 4 min ago	4.72 bp	16.4 bp −$16	4553.5 bp −$45.5K	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 18 min ago	11.52 bp	20.5 bp −$21	146.8 bp −$1,468	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2131	+0.338%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2129	+0.239%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2127	+0.159%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.034%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2130	+0.276%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2126	+0.107%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2129	+0.229%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2129	+0.241%	$702K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2130	+0.276%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.159%	$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	0.2129	+0.221%	$132.5M	$444.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2129	+0.220%	$87.2M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2131	+0.338%	$21.2M	$109.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.017%	$17K	$408K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2129	+0.229%	$116K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.151%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2129	+0.215%	$10.8M	$20.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2130	+0.276%	$44.9M	$43.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2131	+0.309%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2129	+0.239%	$48.3M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2129	+0.243%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2127	+0.144%	$368K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2125	+0.051%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.146%	$244K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2124	long leg	$356K	$4.8M	10x
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2126	+0.088%	$32K	$689K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	+0.262%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2079	−2.134%	$1K	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	+0.323%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.545%	$275K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2132	+0.370%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.173%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	+0.309%	$75K	$4K	3x	as long as short
Lighter ENA	+0.0176%	1h	0.2129	+0.239%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.373%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2132	+0.386%	$2.7M	$5.0M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2129	+0.226%	$51K	—	100x	as long as short
Extended ENA-USD	+0.0304%	1h	0.2130	+0.280%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.126%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	+0.204%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0522%	1h	0.2132	+0.370%	$114.9M	$74.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2131	+0.342%	$837K	$1.8M	50x	as long as short