Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Ondo Perps+0.118%7-day average −0.001% · you sell dearer than you buy

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

Long on Ondo Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.118%, 7d avg −0.001%

Together, before fees−0.137%+ Points / potential airdropOndo Perps: Active · farm board−$14 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: ApeX Omni is 0.119% dearer against Ondo Perps than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2124	0.0100	pay 0.0013% / 1h	57m 24s	$15K	$395K	5x
Short	ApeX Omni ENAUSDT	0.2127	0.0100	get 0.0013% / 1h	57m 24s	$34K	$714K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Ondo Perps. 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 Ondo PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → −0.001%: $11.89
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$3.11
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; ApeX Omni: live order book, 16 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 16 min ago	9.40 bp	20.0 bp −$20	129.5 bp −$1,295	doesn't fit	doesn't fit

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	−0.0164%	1h	0.2124	−0.024%	$378K	$445K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2124	−0.045%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	−0.024%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2125	+0.006%	$105K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0014%	4h	0.2122	−0.094%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.052%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	+0.071%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+0.041%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	+0.089%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.016%	$412K	$560K	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	0.2124	0.000%	$131.9M	$449.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2123	−0.061%	$89.3M	$188.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	−0.052%	$20.7M	$110.4M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2124	long leg	$15K	$395K	5x
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.118%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.071%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.005%	$10.8M	$20.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	−0.005%	$46.4M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.061%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.085%	$48.2M	$63.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2125	+0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.006%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.039%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2126	+0.073%	$361K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2127	+0.118%	$34K	$714K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.028%	$177K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.377%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2123	−0.071%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.207%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.024%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+0.024%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.049%	$78K	$2K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.202%	$7K	$341K	10x	as long as short
01 Exchange ENAUSD	+0.0232%	1h	0.2130	+0.249%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0235%	1h	0.2126	+0.063%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2126	+0.069%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.003%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2126	+0.061%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.014%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0600%	1h	0.2127	+0.141%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2127	+0.137%	$840K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0822%	1h	0.2129	+0.188%	$114.8M	$78.4M	10x	as long as short