Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: OKX against Bitget+0.095%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days−0.081%−$8 · spread now +0.095%, 7d avg +0.048%

Together, before fees−0.126%−$13 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 0.046% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2114	0.0100	pay 0.0050% / 4h	3h 31m	$47.9M	$61.2M	75x
Short	OKX ENA-USDT-SWAP	0.2116	0.0100	get 0.0050% / 4h	3h 31m	$20.9M	$108.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now +0.095%Rate

Funding earned: $0
Price spread: +0.095% → +0.048%: $4.62
Slippage, 4 orders: −$18.95
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.33
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; OKX: live order book, 2 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 Bitget live order book, 3 min ago	0.47 bp	8.5 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.23 bp	12.8 bp −$13	20.6 bp −$206	88.4 bp −$8,842	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	−0.0098%	4h	0.2126	+0.596%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2116	+0.090%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	+0.662%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	+0.604%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.459%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0080%	4h	0.2118	+0.203%	$13.2M	$27.6M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2119	+0.265%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+0.062%	$54K	$498K	50x	as long as short
Paradex ENA-USD-PERP	+0.0099%	8h	0.2116	+0.112%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	+0.065%	$559K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2117	+0.137%	$115.3M	$76.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.139%	$1.4M	$3.4M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	+0.212%	$406K	$569K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	+0.066%	$128.3M	$431.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	+0.071%	$88.0M	$194.5M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2116	+0.095%	$20.9M	$108.2M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	+0.539%	$28K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.298%	$78K	$282K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2140	+1.244%	$93K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+0.166%	$40.2M	$43.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.189%	$24.9M	$16.0M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2114	long leg	$47.9M	$61.2M	75x
BingX ENA-USDT	+0.0100%	4h	0.2119	+0.255%	—	$31.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2126	+0.596%	$414K	$478K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2131	+0.823%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2127	+0.638%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.723%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+0.677%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	+0.137%	$174K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−1.703%	$1K	$927K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	+0.582%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2131	+0.828%	$265K	$838K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2128	+0.677%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2118	+0.213%	$1.6M	$4.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2141	+1.293%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0129%	1h	0.2122	+0.385%	$140K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2128	+0.672%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2128	+0.657%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2127	+0.624%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.691%	$5.7M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2114	+0.029%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2136	+1.050%	$793K	$2.0M	50x	as long as short