Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against ApeX Omni−0.184%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.438%+$44 on $10k

Price spread, last 3 days (all we have)+0.639%+$64 · spread now −0.184%, 7d avg +0.048%

Together, before fees+1.077%+$108 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.232% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.184% now, against its 7-day average of +0.048%). If the spread goes back, that is −$23 on $10k: about 3.2 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2124	0.0100	pay 0.0013% / 1h	52m 20s	$34K	$713K	50x
Short	BloFin ENA-USDT	0.2120	0.0340	get 0.0170% / 4h	3h 52m	$5.6M	$4.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.184%Rate

Funding earned: $50.4
Price spread: −0.184% → +0.048%: −$23.18
Slippage, 4 orders: −$42.1
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.89
Costs to cover: 0.641%
Break-even: 12.1 days

Slippage from ApeX Omni: live order book, 21 min ago; BloFin: live order book, 6 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, 21 min ago	9.40 bp	22.0 bp −$22	137.5 bp −$1,375	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.41 bp	11.8 bp −$12	17.7 bp −$177	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
Backpack ENA_USDC_PERP	−0.0068%	1h	0.2120	−0.169%	$377K	$419K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2119	−0.221%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	−0.330%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2120	−0.209%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0017%	4h	0.2116	−0.395%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.028%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0092%	4h	0.2119	−0.245%	$10.8M	$20.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	−0.235%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	−0.233%	$680K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	−0.188%	$1.5M	$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	0.2120	−0.192%	$411K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.327%	$131.4M	$448.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.363%	$89.1M	$188.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.353%	$20.6M	$109.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	−0.085%	$15K	$394K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.141%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.094%	$90K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.221%	$46.2M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2121	−0.160%	$24.3M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.386%	$48.1M	$62.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2119	−0.226%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	−0.115%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.014%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	0.000%	$359K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2124	long leg	$34K	$713K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	−0.217%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.500%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	−0.377%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	−0.038%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.377%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	−0.230%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.344%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2124	−0.024%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2122	−0.080%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2117	−0.312%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2116	−0.398%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2119	−0.214%	$38K	—	100x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2120	−0.184%	$5.6M	$4.7M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.248%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2121	−0.137%	$838K	$1.9M	50x	as long as short
Lighter ENA	+0.0632%	1h	0.2119	−0.231%	$5.6M	$12.5M	10x	as long as short
Hyperliquid ENA	+0.0660%	1h	0.2122	−0.071%	$114.5M	$76.2M	10x	as long as short