Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: OKX against Ondo Perps−0.024%7-day average −0.053% · you buy dearer than you sell

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

Long on Ondo Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.024%, 7d avg −0.053%

Together, before fees0.000%+ Points / potential airdropOndo Perps: Active · farm board$0 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: OKX is 0.029% dearer against Ondo Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.053%.

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 11s	$15K	$395K	5x
Short	OKX ENA-USDT-SWAP	0.2124	0.0100	get 0.0050% / 4h	3h 57m	$20.7M	$110.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.053%: $2.92
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$12.08
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.24 bp	10.3 bp −$10	17.1 bp −$171	94.2 bp −$9,419	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	−0.0128%	1h	0.2125	+0.014%	$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	−0.019%	$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	0.2125	+0.036%	$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	−0.038%	$131.8M	$448.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2123	−0.075%	$89.3M	$188.6M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2124	−0.024%	$20.7M	$110.4M	50x
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	0.2123	−0.052%	$46.4M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2125	+0.009%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.118%	$48.2M	$63.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	+0.024%	—	$32.6M	—	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 ENAUSDT	+0.0100%	1h	0.2127	+0.118%	$34K	$714K	50x	as long as short
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	0.2076	−2.278%	$1K	$828K	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	0.2137	+0.570%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2123	−0.071%	$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	0.2125	+0.035%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2122	−0.099%	$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	0.2123	−0.056%	$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	0.2126	+0.061%	$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