Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Aster against Ondo Perps−0.038%7-day average +0.025% · you buy dearer than you sell

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

Long on Ondo Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 4 days (all we have)+0.523%+$52 · spread now −0.038%, 7d avg +0.025%

Together, before fees+0.643%+ Points / potential airdropOndo Perps: Active · Aster: Stage 5 · farm board+$64 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: Aster is 0.063% cheaper against Ondo Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2097	0.0100	pay 0.0013% / 1h	39m 44s	$19K	$429K	5x
Short	Aster ENAUSDT	0.2096	0.0100	get 0.0050% / 4h	2h 39m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AsterbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.025%: −$6.27
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$19.27
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Aster: live order book, 4 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 Aster live order book, 4 min ago	1.67 bp	13.7 bp −$14	21.4 bp −$214	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	−0.0349%	1h	0.2096	−0.024%	$361K	$486K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2095	−0.072%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2090	−0.320%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0016%	4h	0.2090	−0.324%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	−0.033%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	−0.038%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.269%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	+0.024%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2089	−0.372%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2090	−0.337%	$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	0.2096	−0.060%	$654K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2096	−0.038%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2092	−0.211%	$402K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.262%	$128.9M	$468.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.343%	$87.4M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2089	−0.348%	$20.1M	$113.9M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2097	long leg	$19K	$429K	5x
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.277%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.134%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	−0.320%	$44.7M	$48.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2094	−0.138%	$24.1M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.391%	$47.3M	$66.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.339%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.088%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.181%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.188%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.229%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.029%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.447%	$889	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.086%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.382%	$273K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.086%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2089	−0.382%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	−0.038%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	+0.005%	$2.7M	$5.8M	50x	as long as short
Lighter ENA	+0.0208%	1h	0.2095	−0.081%	$5.7M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2096	−0.049%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0317%	1h	0.2096	−0.033%	$111.4M	$80.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.014%	$5.6M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.062%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.191%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9663%	1h	0.2094	−0.153%	$138K	$12K	5x	as long as short