Funding arb · Price arb /

ENA

all ENA markets

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 −0.002%

Price spread now: Bybit against OKX−0.033%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.033%, 7d avg −0.018%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2094	0.0100	pay 0.0050% / 4h	2h 37m	$20.2M	$114.1M	50x
Short	Bybit ENAUSDT	0.2094	0.0100	get 0.0050% / 4h	2h 37m	$87.6M	$193.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.018%: −$1.57
Slippage, 4 orders: −$18.92
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$41.49
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bybit: live order book, 2 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	0.72 bp	10.7 bp −$11	19.6 bp −$196	97.3 bp −$9,731	doesn't fit
Sell Bybit live order book, 2 min ago	0.24 bp	8.9 bp −$9	18.0 bp −$180	60.0 bp −$6,004	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	−0.0349%	1h	0.2095	+0.029%	$360K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2093	−0.038%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2094	+0.010%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0006%	4h	0.2094	−0.019%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	−0.005%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	+0.038%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.394%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	+0.148%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.010%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	+0.027%	$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	0.2093	−0.042%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	+0.028%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	+0.024%	$402K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	−0.002%	$129.1M	$468.0M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2094	−0.033%	$87.6M	$193.3M	50x
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2094	long leg	$20.2M	$114.1M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2090	−0.201%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	−0.010%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.010%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	+0.014%	$44.8M	$48.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.019%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.096%	$47.4M	$66.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2094	−0.010%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	+0.036%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	−0.157%	$248K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.074%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	+0.086%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.100%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2044	−2.407%	$1K	$806K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2093	−0.057%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2097	+0.153%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.010%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2093	−0.065%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	−0.013%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2096	+0.079%	$2.7M	$5.8M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2094	−0.005%	$50K	—	100x	as long as short
Lighter ENA	+0.0248%	1h	0.2097	+0.148%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0314%	1h	0.2096	+0.105%	$110.7M	$80.7M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.043%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2093	−0.043%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.315%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9398%	1h	0.2095	+0.021%	$138K	$12K	5x	as long as short