Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against OKX−0.127%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 7 days+0.136%+$14 · spread now −0.127%, 7d avg +0.015%

Together, before fees+0.185%+$19 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: Binance is 0.142% cheaper against OKX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2103	0.0100	pay 0.0050% / 4h	52m 15s	$20.7M	$102.2M	50x
Short	Binance ENAUSDT	0.2100	0.0100	get 0.0050% / 4h	52m 15s	$128.5M	$414.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.127%Rate

Funding earned: $0
Price spread: −0.127% → +0.015%: −$14.25
Slippage, 4 orders: −$20.7
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$54.95
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Binance: live order book, 6 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, 2 min ago	0.24 bp	9.6 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.24 bp	9.1 bp −$9	17.6 bp −$176	63.3 bp −$6,332	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	−0.0226%	1h	0.2102	−0.024%	$371K	$372K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2098	−0.257%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0055%	4h	0.2098	−0.252%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	−0.209%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	−0.240%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.970%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0049%	1h	0.2102	−0.049%	$139K	$15K	5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2108	+0.247%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.285%	$55K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.276%	$47K	$110	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	0.2098	−0.226%	$659K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2104	+0.052%	$112.2M	$72.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	−0.171%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2100	−0.124%	$409K	$499K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2100	−0.127%	$128.5M	$414.9M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2102	−0.033%	$85.9M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2103	long leg	$20.7M	$102.2M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	+0.143%	$19K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	−0.285%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.190%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2098	−0.219%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	−0.052%	$45.5M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	−0.204%	$24.5M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2100	−0.133%	$47.7M	$57.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2102	−0.029%	—	$32.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.780%	$3.3M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2107	+0.181%	$242K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	+0.333%	$354K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.380%	$20K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	−0.233%	$181K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.663%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	−0.238%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.086%	$272K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2098	−0.238%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.255%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.206%	$73K	$4K	3x	as long as short
Lighter ENA	+0.0112%	1h	0.2101	−0.105%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2100	−0.133%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	−0.237%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2105	+0.086%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.211%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2112	+0.418%	$860K	$1.5M	50x	as long as short