Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against Ondo Perps+0.694%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on SoDEX

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—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.694% dearer against Ondo Perps than usual: you sell high and buy low, +$69 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2176	0.0100	pay 0.0013% / 1h	13m 17s	$21K	$335K	5x
Short	SoDEX ENA-USD	0.2191	0.0100	get 0.0013% / 1h	13m 17s	$4K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.694%Rate

Funding earned: $0
Price spread: +0.694% → 0.000%: $69.4
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $56.4
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; SoDEX: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Ondo Perps and SoDEX: 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
Orderly PERP_ENA_USDC	−0.0137%	4h	0.2192	+0.726%	$46K	$26K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2192	+0.733%	$85K	—	150x	as long as short
Phemex ENAUSDT	+0.0024%	4h	0.2187	+0.510%	$1.8M	$8.9M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.413%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2187	+0.501%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2187	+0.510%	$54K	$476K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2191	+0.687%	$568K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2193	+0.772%	$118.8M	$75.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2191	+0.692%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2184	+0.367%	$410K	$528K	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	0.2191	+0.699%	$133.1M	$425.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2188	+0.538%	$88.5M	$178.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2188	+0.533%	$21.9M	$109.6M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2176	long leg	$21K	$335K	5x
Arcus ENA-USD	+0.0100%	1h	0.2187	+0.510%	$81K	$280K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2191	+0.685%	$11.6M	$24.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2191	+0.703%	$48.2M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2190	+0.643%	$25.5M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2190	+0.630%	$49.6M	$58.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2192	+0.722%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2174	−0.097%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2175	−0.036%	$253K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2177	+0.051%	$365K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2178	+0.097%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2193	+0.767%	$194K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2139	−1.714%	$921	$886K	20x	as long as short
SoDEX ENA-USDshort	+0.0100%	1h	0.2191	+0.694%	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2188	+0.579%	$274K	$806K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−2.041%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2184	+0.383%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2191	+0.678%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2192	+0.722%	$77K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	−0.078%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0157%	1h	0.2192	+0.749%	$2.7M	$4.3M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0161%	1h	0.2192	+0.749%	$71K	$1.1M	50x	as long as short
dYdX ENA-USD	+0.0233%	1h	0.2183	+0.322%	$144K	$16K	5x	as long as short
Lighter ENA	+0.0248%	1h	0.2193	+0.795%	$5.3M	$13.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0311% / S −0.0753%	1h	0.2191	+0.694%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2193	+0.781%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2191	+0.694%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0671%	1h	0.2180	+0.193%	$368K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2192	+0.754%	$897K	$1.8M	50x	as long as short