Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: OKX against ApeX Omni+0.090%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−0.445%−$44 · spread now +0.090%, 7d avg −0.053%

Together, before fees−0.512%−$51 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 0.142% dearer against ApeX Omni than usual: you sell high and buy low, +$14 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	ApeX Omni ENAUSDT	0.2116	0.0100	pay 0.0013% / 1h	5m 24s	$19K	$646K	50x
Short	OKX ENA-USDT-SWAP	0.2118	0.0100	get 0.0050% / 4h	5m 24s	$21.2M	$107.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → −0.053%: $14.24
Slippage, 4 orders: −$47.99
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$53.75
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 33 min ago; OKX: live order book, 4 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, 33 min ago	11.93 bp	23.3 bp −$23	147.9 bp −$1,479	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.47 bp	12.9 bp −$13	24.3 bp −$243	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	−0.0082%	4h	0.2116	−0.019%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.009%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	+0.002%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2118	+0.080%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.350%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	+0.047%	$53K	$485K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	−0.081%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+0.028%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2119	+0.118%	$114.9M	$74.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.070%	$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	0.2116	+0.007%	$408K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	+0.034%	$128.8M	$424.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	−0.057%	$90.7M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2118	+0.090%	$21.2M	$107.4M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.043%	$33K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.095%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.118%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	+0.043%	$13.1M	$27.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+0.028%	$39.4M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.109%	$25.0M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	−0.033%	$48.0M	$59.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2116	+0.014%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2115	−0.066%	$409K	$483K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.110%	$3.1M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	+0.021%	$255K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.049%	$358K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2116	long leg	$19K	$646K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.052%	$182K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.429%	$1K	$908K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	0.000%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.194%	$267K	$808K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2113	−0.142%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2115	−0.024%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	0.000%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0144%	1h	0.2117	+0.043%	$5.0M	$13.9M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0148%	1h	0.2114	−0.077%	$2.6M	$4.3M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2118	+0.085%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2114	−0.103%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.028%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.030%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2115	−0.038%	$801K	$1.9M	50x	as long as short
dYdX ENA-USD	+0.0791%	1h	0.2115	−0.061%	$140K	$16K	5x	as long as short