Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: ApeX Omni against OKX+0.138%100s7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.522% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 3 days (all we have)−0.130%−$13 · spread now +0.138%, 7d avg +0.063%

Together, before fees−0.041%−$4 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 0.075% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.063%. The two prices were read 100 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	OKX ENA-USDT-SWAP	0.2107	0.0100	pay 0.0050% / 4h	2h 23m	$20.3M	$114.5M	50x
Short	ApeX Omni ENAUSDT	0.2110	0.0100	get 0.0013% / 1h	23m 47s	$33K	$711K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.138%Rate

Funding earned: $0
Price spread: +0.138% → +0.063%: $7.45
Slippage, 4 orders: −$32.19
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$44.74
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 65 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 OKX live order book, 5 min ago	0.24 bp	8.4 bp −$8	21.5 bp −$215	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 min ago	7.04 bp	17.8 bp −$18	135.5 bp −$1,355	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
Backpack ENA_USDC_PERP	−0.0264%	1h	0.2108	+0.038%	$363K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2107	−0.028%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2106	−0.038%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2108	+0.024%	$93K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2107	−0.005%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.774%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0044%	4h	0.2107	+0.014%	$10.5M	$21.6M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2104	−0.166%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	−0.052%	$60K	$540K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.062%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2106	−0.064%	$661K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2108	+0.066%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	−0.001%	$407K	$595K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2107	+0.005%	$129.9M	$466.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.019%	$88.0M	$193.8M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2107	long leg	$20.3M	$114.5M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2113	+0.271%	$19K	$432K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	+0.043%	$82K	$223K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2108	+0.033%	$45.8M	$49.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	+0.071%	$24.4M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2106	−0.057%	$47.7M	$66.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2107	0.000%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	+0.196%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.072%	$251K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	+0.141%	$360K	$4.6M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2110	+0.138%	$33K	$711K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2107	−0.014%	$184K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.420%	$1K	$808K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2107	−0.005%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.190%	$274K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	−0.052%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.317%	$89K	$2K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2107	+0.011%	$2.7M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2107	+0.011%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2107	+0.015%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0162%	1h	0.2107	+0.004%	$50K	—	100x	as long as short
Lighter ENA	+0.0320%	1h	0.2110	+0.138%	$5.7M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	+0.047%	$5.5M	$8.2M	75x	as long as short
Hyperliquid ENA	+0.0340%	1h	0.2110	+0.128%	$111.3M	$80.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2106	−0.074%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2113	+0.280%	$807K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.6999%	1h	0.2108	+0.019%	$139K	$15K	5x	as long as short