Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against Ondo Perps−0.014%7-day average +0.005% · you buy dearer than you sell

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

Long on Ondo Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.715%+$71 · spread now −0.014%, 7d avg +0.005%

Together, before fees+0.720%+ Points / potential airdropOndo Perps: Active · GRVT: Active · farm board+$72 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2120	0.0100	pay 0.0013% / 1h	22m 58s	$38K	$327K	5x
Short	GRVT ENA_USDT_Perp	0.2120	0.0100	get 0.0050% / 4h	3h 22m	$356K	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → +0.005%: −$1.93
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$15.93
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; GRVT: live order book, 6 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 GRVT live order book, 6 min ago	2.36 bp	12.4 bp −$12	48.3 bp −$483	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
Phemex ENAUSDT	−0.0232%	4h	0.2136	+0.740%	$1.8M	$8.9M	50x	as long as short
01 Exchange ENAUSD	−0.0120%	1h	0.2134	+0.637%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0104%	4h	0.2139	+0.891%	$44K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	+0.981%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	+0.904%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+0.075%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0078%	4h	0.2136	+0.726%	$48.3M	$61.1M	75x	as long as short
Gate ENA_USDT	+0.0092%	4h	0.2138	+0.830%	$13.4M	$27.9M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2140	+0.953%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2135	+0.693%	$55K	$498K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0099%	8h	0.2134	+0.652%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2135	+0.682%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2139	+0.890%	$116.3M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2137	+0.809%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2134	+0.656%	$410K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2137	+0.781%	$128.9M	$430.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2137	+0.797%	$88.9M	$194.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2137	+0.802%	$21.2M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2120	long leg	$38K	$327K	5x
Arcus ENA-USD	+0.0100%	1h	0.2134	+0.646%	$78K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.366%	$92K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2139	+0.891%	$41.7M	$43.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2139	+0.901%	$25.1M	$16.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2138	+0.825%	—	$31.0M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2139	+0.873%	$414K	$479K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.276%	$3.0M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	−0.015%	$248K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2120	−0.014%	$356K	$4.8M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.156%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2137	+0.788%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2087	−1.566%	$1K	$930K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	+0.882%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2146	+1.198%	$267K	$843K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2136	+0.731%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2139	+0.892%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0105%	1h	0.2123	+0.132%	$140K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	−0.061%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2140	+0.930%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2138	+0.844%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2138	+0.830%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2137	+0.766%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2118	−0.094%	$786K	$2.0M	50x	as long as short