Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against MEXC−0.081%7-day average +0.047% · you buy dearer than you sell

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

Long on MEXC Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.081%, 7d avg +0.047%

Together, before fees+0.026%+ Points / potential airdropOndo Perps: Active · farm board+$3 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: Ondo Perps is 0.128% cheaper against MEXC than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2093	0.0100	pay 0.0050% / 4h	1h 24m	$45.3M	$46.8M	200x
Short	Ondo Perps ENA-USD.P	0.2092	0.0100	get 0.0013% / 1h	24m 14s	$15K	$405K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee Ondo PerpsbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.047%: −$12.8
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.8
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Ondo Perps: 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 MEXC live order book, 5 min ago	0.24 bp	2.0 bp −$2	5.2 bp −$52	34.3 bp −$3,426	56.6 bp −$28.3K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Backpack ENA_USDC_PERP	−0.0072%	1h	0.2094	+0.043%	$361K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0055%	4h	0.2093	−0.019%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	+0.010%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	+0.067%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.438%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2095	+0.091%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	+0.033%	$61K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	+0.101%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2095	+0.081%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2094	+0.015%	$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	0.2096	+0.138%	$405K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	+0.019%	$129.0M	$456.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2093	−0.010%	$87.1M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	−0.010%	$20.2M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2092	−0.081%	$15K	$405K	5x
Arcus ENA-USD	+0.0100%	1h	0.2096	+0.129%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.229%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	+0.072%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2093	long leg	$45.3M	$46.8M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2094	+0.053%	$23.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.072%	$47.3M	$65.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2095	+0.081%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.192%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	−0.098%	$248K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2092	−0.062%	$360K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.062%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2095	+0.100%	$182K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2044	−2.346%	$723	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2094	+0.033%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	+0.239%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2093	−0.014%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2093	+0.009%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	−0.091%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0120%	1h	0.2096	+0.110%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0236% / S −0.0401%	1h	0.2094	+0.048%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2093	−0.017%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	+0.091%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.044%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2097	+0.153%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2092	−0.062%	$804K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0580%	1h	0.2098	+0.205%	$110.7M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1945%	1h	0.2096	+0.140%	$138K	$15K	5x	as long as short