Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: GRVT against OKX+0.181%61s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as 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−$480.484% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days−0.237%−$24 · spread now +0.181%, 7d avg +0.027%

Together, before fees−0.170%+ Points / potential airdropGRVT: Active · farm board−$17 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: GRVT is 0.154% dearer against OKX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.027%. The two prices were read 61 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	0.2099	0.0100	pay 0.0050% / 4h	3h 10m	$20.9M	$102.8M	50x
Short	GRVT ENA_USDT_Perp	0.2103	0.0100	get 0.0050% / 4h	3h 10m	$348K	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.181%Rate

Funding earned: $0
Price spread: +0.181% → +0.027%: $15.38
Slippage, 4 orders: −$29.45
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$33.07
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; GRVT: 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, 3 min ago	0.24 bp	9.4 bp −$9	14.7 bp −$147	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	2.38 bp	14.6 bp −$15	37.3 bp −$373	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
Orderly PERP_ENA_USDC	−0.0126%	4h	0.2099	0.000%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0075%	1h	0.2100	+0.043%	$358K	$400K	5x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2099	−0.024%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	+0.014%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	−0.040%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.153%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.057%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	+0.001%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−0.038%	$649K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2100	+0.033%	$1.4M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2100	+0.035%	$400K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.023%	$127.1M	$412.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.048%	$84.7M	$174.0M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2099	long leg	$20.9M	$102.8M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2101	+0.095%	$22K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.010%	$78K	$276K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2099	−0.024%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.024%	$45.4M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.033%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.100%	$47.6M	$57.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2099	−0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2098	−0.035%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	+0.160%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2103	+0.181%	$348K	$5.0M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2103	+0.181%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	−0.005%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.391%	$858	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.010%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.543%	$273K	$771K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	−0.010%	$1.7M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2102	+0.138%	$92K	−$0	10x	as long as short
Hyperliquid ENA	+0.0103%	1h	0.2100	+0.052%	$114.0M	$74.2M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.066%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.010%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2104	+0.238%	$8K	$274K	10x	as long as short
Lighter ENA	+0.0160%	1h	0.2102	+0.133%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2100	+0.054%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2100	+0.034%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	+0.038%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.066%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.462%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1115%	1h	0.2100	+0.035%	$139K	$15K	5x	as long as short