Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against ApeX Omni+0.095%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on ApeX Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.516%−$52 · spread now +0.095%, 7d avg −0.010%

Together, before fees−0.516%−$52 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: Arcus is 0.105% dearer against ApeX Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2109	0.0100	pay 0.0013% / 1h	13m 30s	$19K	$646K	50x
Short	Arcus ENA-USD	0.2111	0.0100	get 0.0013% / 1h	13m 30s	$78K	$281K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against ApeX Omni. 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 ApeX OmnibpFee ArcusbpOrdersPrice spread, now +0.095%Rate

Funding earned: $0
Price spread: +0.095% → −0.010%: $10.52
Slippage, 4 orders: −$55.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$59.38
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 25 min ago; Arcus: live order book, 25 min ago.

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 ApeX Omni live order book, 25 min ago	11.93 bp	23.3 bp −$23	147.9 bp −$1,479	doesn't fit	doesn't fit
Sell Arcus live order book, 25 min ago	9.53 bp	12.5 bp −$13	25.6 bp −$256	doesn't fit	doesn't fit

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	−0.0085%	4h	0.2111	+0.104%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2112	+0.138%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	+0.070%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2112	+0.128%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.683%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	+0.095%	$53K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2111	+0.097%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	+0.069%	$564K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2112	+0.166%	$114.5M	$74.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2112	+0.148%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2111	+0.098%	$407K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2110	+0.057%	$128.4M	$425.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2110	+0.038%	$90.5M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2111	+0.114%	$21.1M	$107.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2109	−0.005%	$33K	$312K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2111	+0.095%	$78K	$281K	10x
Bulk ENA-USD	+0.0100%	1h	0.2105	−0.190%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2111	+0.085%	$13.0M	$27.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2111	+0.076%	$39.3M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	+0.142%	$24.9M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	+0.024%	$47.9M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2110	+0.062%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2113	+0.180%	$409K	$486K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.170%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2108	−0.068%	$254K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	−0.051%	$356K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2109	long leg	$19K	$646K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	+0.104%	$182K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2060	−2.328%	$1K	$909K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	+0.095%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.138%	$266K	$808K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	0.000%	$1.8M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2113	+0.190%	$5.0M	$13.9M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	−0.015%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.082%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2112	+0.148%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2111	+0.104%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2108	−0.041%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	−0.066%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	+0.017%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2098	−0.526%	$867K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0877%	1h	0.2111	+0.075%	$139K	$16K	5x	as long as short