Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Bitget against OKX−0.077%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.411% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 7 days+0.070%+$7 · spread now −0.077%, 7d avg −0.046%

Together, before fees+0.144%+$14 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: Bitget is 0.031% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2087	0.0100	pay 0.0050% / 4h	1h 50m	$20.1M	$112.6M	50x
Short	Bitget ENAUSDT	0.2085	0.0100	get 0.0050% / 4h	1h 50m	$47.2M	$65.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → −0.046%: −$3.07
Slippage, 4 orders: −$19.06
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.13
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bitget: live order book, 4 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, 4 min ago	0.24 bp	12.4 bp −$12	20.4 bp −$204	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.24 bp	11.5 bp −$12	18.6 bp −$186	39.8 bp −$3,985	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	−0.0077%	4h	0.2086	−0.043%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0070%	1h	0.2090	+0.173%	$361K	$484K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2087	+0.005%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2087	+0.008%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.759%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0067%	1h	0.2087	+0.018%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2090	+0.149%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2088	+0.062%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	+0.113%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2088	+0.041%	$654K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.151%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2090	+0.161%	$404K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	+0.073%	$128.5M	$462.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2086	−0.053%	$86.7M	$192.7M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2087	long leg	$20.1M	$112.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	+0.134%	$20K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2090	+0.158%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2090	+0.162%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2087	+0.029%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2088	+0.067%	$44.9M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+0.110%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2085	−0.077%	$47.2M	$65.4M	75x
BingX ENA-USDT	+0.0100%	4h	0.2087	−0.010%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2088	+0.085%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.220%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.462%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2091	+0.206%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	+0.072%	$187K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.262%	$1K	$813K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2087	+0.014%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.321%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	+0.110%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2087	−0.005%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2092	+0.273%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0220% / S −0.0361%	1h	0.2087	0.000%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2086	−0.038%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2089	+0.110%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2088	+0.055%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0448%	1h	0.2093	+0.283%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0530%	1h	0.2091	+0.187%	$110.1M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.364%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1814%	1h	0.2089	+0.123%	$138K	$15K	5x	as long as short