Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Ondo Perps against OKX+0.029%7-day average +0.053% · you sell dearer than you buy

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now +0.029%, 7d avg +0.053%

Together, before fees−0.072%+ Points / potential airdropOndo Perps: Active · farm board−$7 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: Ondo Perps is 0.024% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.053%.

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	1h 33m	$20.2M	$112.2M	50x
Short	Ondo Perps ENA-USD.P	0.2094	0.0100	get 0.0013% / 1h	33m 26s	$15K	$411K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → +0.053%: −$2.45
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.45
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 6 min ago; Ondo Perps: 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, 6 min ago	0.24 bp	10.3 bp −$10	20.0 bp −$200	96.3 bp −$9,635	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Backpack ENA_USDC_PERP	−0.0084%	1h	0.2096	+0.119%	$362K	$481K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0063%	4h	0.2093	−0.014%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.062%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	+0.067%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.423%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2096	+0.112%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	+0.067%	$61K	$535K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	+0.121%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2096	+0.096%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	+0.074%	$1.5M	$3.3M	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	0.2096	+0.134%	$406K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	+0.035%	$129.0M	$457.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	0.000%	$87.1M	$191.4M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2094	long leg	$20.2M	$112.2M	50x
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2094	+0.029%	$15K	$411K	5x
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.162%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.203%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	+0.043%	$10.4M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	+0.038%	$45.1M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	+0.148%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	+0.014%	$47.4M	$65.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2094	+0.043%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.133%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2092	−0.081%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.037%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.029%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2095	+0.076%	$188K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.646%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	+0.067%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.134%	$273K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	+0.019%	$1.9M	$9.2M	50x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2097	+0.153%	$4K	$432	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	+0.026%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2095	+0.048%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0230% / S −0.0387%	1h	0.2094	+0.035%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2095	+0.085%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.043%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.037%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2099	+0.263%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0567%	1h	0.2098	+0.215%	$110.8M	$79.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	+0.143%	$806K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1904%	1h	0.2095	+0.074%	$138K	$15K	5x	as long as short