Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h +0.095%

Price spread now: Reya against OKX+0.043%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 0.043% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2111	0.0100	pay 0.0050% / 4h	3h 54m	$21.0M	$103.7M	50x
Short	Reya ENARUSDPERP	0.2112	0.0412	get 0.0051% / 1h	54m 15s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.043%Rate

Funding earned: $65.45
Price spread: +0.043% → 0.000%: $4.28
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $53.73
Costs to cover: 0.160%
Break-even: 1.3 days

Slippage unknown: OKX: live order book, 5 min ago; Reya: 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, 5 min ago	0.24 bp	10.6 bp −$11	21.7 bp −$217	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0308%	1h	0.2117	+0.294%	$362K	$401K	5x	as long as short
Phemex ENAUSDT	−0.0214%	4h	0.2111	0.000%	$1.8M	$8.9M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0084%	4h	0.2111	0.000%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	0.000%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	+0.098%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.587%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0042%	4h	0.2113	+0.104%	$11.1M	$22.0M	50x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2117	+0.265%	$4K	$302	10x	as long as short
Phoenix ENA	+0.0076%	1h	0.2109	−0.085%	$8K	$274K	10x	as long as short
dYdX ENA-USD	+0.0076%	1h	0.2114	+0.162%	$140K	$15K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2114	+0.142%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	+0.241%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2112	+0.059%	$656K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.300%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	+0.224%	$404K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2113	+0.113%	$128.5M	$415.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2111	−0.019%	$85.1M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2111	long leg	$21.0M	$103.7M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	+0.005%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.332%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.206%	$93K	$4K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	+0.137%	$46.1M	$40.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	+0.180%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2110	−0.057%	$47.9M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2113	+0.099%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.152%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	+0.010%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.012%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	−0.047%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	+0.204%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.326%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	−0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.384%	$274K	$793K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	−0.075%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.004%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0112%	1h	0.2112	+0.057%	$5.2M	$13.2M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2112	+0.037%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2113	+0.090%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2113	+0.114%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0395%	1h	0.2116	+0.240%	$115.3M	$74.0M	10x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2112	+0.043%	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2120	+0.422%	$866K	$1.7M	50x	as long as short