Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Polymarket Perps against OKX+0.042%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

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

costs, in and out, $10k−$420.417% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 7 days+0.023%+$2 · spread now +0.042%, 7d avg +0.030%

Together, before fees−0.142%−$14 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	0.2147	0.0100	pay 0.0050% / 4h	2h 27m	$21.1M	$109.5M	50x
Short	Polymarket Perps ENA-USD	0.2148	0.0100	get 0.0013% / 1h	27m 24s	$191K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → +0.030%: $1.18
Slippage, 4 orders: −$23.71
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$40.53
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Polymarket Perps: live order book, 1 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	0.93 bp	12.5 bp −$13	21.8 bp −$218	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	3.27 bp	8.7 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2140	−0.373%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2147	−0.003%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0016%	1h	0.2141	−0.282%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.122%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0039%	4h	0.2144	−0.172%	$45K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2146	−0.079%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2147	−0.023%	$56K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2149	+0.070%	$695K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2145	−0.116%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2143	−0.200%	$419K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2148	+0.016%	$132.9M	$445.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2144	−0.149%	$88.1M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2147	long leg	$21.1M	$109.5M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2138	−0.456%	$19K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2144	−0.163%	$117K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.967%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2147	−0.009%	$11.1M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2149	+0.056%	$45.7M	$44.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2149	+0.065%	$24.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2148	+0.042%	$48.9M	$61.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2147	−0.028%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2139	−0.382%	$383K	$398K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	−0.362%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.072%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.106%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2144	−0.163%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2148	+0.042%	$191K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2088	−2.789%	$1K	$851K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	−0.396%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2144	−0.186%	$276K	$952K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2139	−0.396%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2142	−0.277%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	−0.366%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2147	−0.009%	$8K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2143	−0.196%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2139	−0.388%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2139	−0.400%	$51K	—	100x	as long as short
Lighter ENA	+0.0392%	1h	0.2145	−0.116%	$5.6M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2148	+0.032%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0530%	1h	0.2152	+0.210%	$116.5M	$73.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2140	−0.340%	$838K	$1.8M	50x	as long as short