Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0654%/8h= +71.6% APRpaid last 24h +0.038%

Price spread now: GMX against OKX−0.019%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$20 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2110	0.0100	pay 0.0050% / 4h	42m 25s	$21.2M	$107.3M	50x
Short	GMX ENA/USD [ETH-USDC]	0.2110	L +0.0306% / S −0.0754%	get 0.0094% / 1h	42m 25s	$58K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $137.27
Price spread: −0.019% → 0.000%: −$1.94
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $113.32
Costs to cover: 0.220%
Break-even: 1.2 days

Slippage unknown: OKX: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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	9.5 bp −$9	17.2 bp −$172	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0098%	4h	0.2109	−0.052%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2109	−0.038%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2110	+0.005%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	−0.011%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.621%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2110	0.000%	$5.0M	$13.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2109	−0.062%	$55K	$478K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	−0.080%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2108	−0.116%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2112	+0.081%	$114.5M	$75.1M	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	0.2110	−0.022%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2109	−0.071%	$405K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2110	−0.022%	$128.0M	$426.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2109	−0.081%	$90.5M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2110	long leg	$21.2M	$107.3M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	−0.417%	$33K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	−0.109%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+0.122%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2110	−0.009%	$12.8M	$26.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2110	−0.005%	$38.9M	$42.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2111	+0.024%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	−0.100%	$47.9M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2110	−0.005%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2105	−0.242%	$411K	$490K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	+0.518%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.591%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+0.228%	$365K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.317%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2110	+0.005%	$195K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.417%	$990	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	−0.014%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	−0.261%	$265K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.393%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	−0.053%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2109	−0.051%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2111	+0.045%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2119	+0.426%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0306% / S −0.0754%	1h	0.2110	−0.019%	$58K	—	100x
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.607%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	−0.041%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2116	+0.265%	$874K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0818%	1h	0.2107	−0.153%	$139K	$16K	5x	as long as short