Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.022%

Price spread now: Injective against OKX−0.375%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 Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.375% cheaper against OKX than usual: you would sell low and buy high (−$38 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.230%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2131	0.0100	pay 0.0050% / 4h	0m 47s	$21.3M	$108.5M	50x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	0m 47s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.375%Rate

Funding earned: −$14
Price spread: −0.375% → 0.000%: −$37.53
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$61.55
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Injective: 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, 3 min ago	0.24 bp	9.0 bp −$9	16.2 bp −$162	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0083%	4h	0.2127	−0.188%	$44K	$17K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2128	−0.140%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2126	−0.235%	$4K	$277	10x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	−0.375%	$522	$57K	5.5x
Deribit ENA_USDC-PERPETUAL	+0.0079%	1h	0.2129	−0.099%	$61K	$1.1M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	−0.253%	$53K	$484K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2127	−0.185%	$572K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2130	−0.080%	$115.5M	$74.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	−0.092%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2130	−0.076%	$411K	$562K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2131	−0.025%	$129.7M	$426.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2130	−0.061%	$89.8M	$191.3M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2131	long leg	$21.3M	$108.5M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	−0.591%	$33K	$312K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	−0.160%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	−0.605%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	−0.080%	$13.3M	$27.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2130	−0.047%	$39.6M	$43.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2132	+0.023%	$25.1M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2127	−0.202%	$48.3M	$60.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2129	−0.108%	—	$31.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2132	+0.014%	$413K	$483K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2127	−0.203%	$3.1M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2114	−0.803%	$255K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	−0.766%	$358K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.769%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	−0.160%	$175K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2077	−2.571%	$1K	$910K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	−0.160%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.141%	$268K	$808K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2129	−0.113%	$1.9M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	−0.029%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2129	−0.127%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	−0.160%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0147%	1h	0.2129	−0.124%	$2.6M	$4.4M	50x	as long as short
Lighter ENA	+0.0176%	1h	0.2132	+0.009%	$5.0M	$13.9M	10x	as long as short
Phoenix ENA	+0.0190%	1h	0.2129	−0.094%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0754%	1h	0.2129	−0.115%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.174%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	−0.197%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2133	+0.094%	$801K	$2.0M	50x	as long as short
dYdX ENA-USD	+0.0760%	1h	0.2129	−0.119%	$141K	$16K	5x	as long as short