Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.062%

Price spread now: 01 Exchange against OKX−0.100%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 01 Exchange

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—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and 01 Exchange is 0.100% cheaper against OKX than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2110	0.0100	pay 0.0050% / 4h	2h 27m	$20.3M	$114.7M	50x
Short	01 Exchange ENAUSD	0.2108	−0.0024	pay 0.0003% / 1h	27m 38s	$4K	$432	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.100%Rate

Funding earned: −$26.04
Price spread: −0.100% → 0.000%: −$9.95
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$52.99
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; 01 Exchange: 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, 1 min ago	0.24 bp	8.4 bp −$8	21.5 bp −$215	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0271%	1h	0.2110	0.000%	$363K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2108	−0.085%	$41K	$23K	10x	as long as short
01 Exchange ENAUSDshort	−0.0024%	1h	0.2108	−0.100%	$4K	$432	10x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2109	−0.057%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2108	−0.091%	$97K	—	150x	as long as short
Gate ENA_USDT	+0.0028%	4h	0.2107	−0.128%	$10.5M	$21.6M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.630%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.692%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2108	−0.100%	$60K	$540K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	−0.151%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2109	−0.045%	$662K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2108	−0.096%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2108	−0.104%	$407K	$595K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2108	−0.082%	$130.0M	$467.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2109	−0.038%	$88.0M	$193.9M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2110	long leg	$20.3M	$114.7M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.474%	$19K	$430K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2109	−0.052%	$82K	$223K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2108	−0.118%	$45.1M	$48.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	−0.066%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	−0.100%	$47.7M	$66.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2107	−0.137%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2099	−0.533%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2100	−0.493%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2099	−0.506%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2100	−0.479%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	+0.052%	$184K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.521%	$1K	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2108	−0.100%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2110	−0.005%	$274K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2107	−0.147%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.459%	$89K	$2K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0103%	1h	0.2108	−0.077%	$2.7M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2107	−0.151%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2109	−0.055%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2108	−0.093%	$50K	—	100x	as long as short
Lighter ENA	+0.0288%	1h	0.2110	+0.005%	$5.7M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0329%	1h	0.2110	+0.014%	$111.3M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2104	−0.294%	$5.5M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	−0.027%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2108	−0.081%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.7516%	1h	0.2109	−0.058%	$139K	$15K	5x	as long as short