Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: ApeX Omni against OKX+0.235%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on OKX Short on ApeX Omni

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)−0.265%−$26 · spread now +0.235%, 7d avg +0.056%

Together, before fees−0.198%−$20 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: ApeX Omni is 0.179% dearer against OKX than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2173	0.0100	pay 0.0050% / 4h	2h 03m	$21.7M	$109.6M	50x
Short	ApeX Omni ENAUSDT	0.2178	0.0100	get 0.0013% / 1h	3m 21s	$20K	$650K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.235%Rate

Funding earned: $0
Price spread: +0.235% → +0.056%: $17.89
Slippage, 4 orders: −$40.45
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$42.56
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; ApeX Omni: live order book, 45 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 OKX live order book, 6 min ago	0.23 bp	8.8 bp −$9	22.0 bp −$220	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 45 min ago	11.87 bp	21.0 bp −$21	142.5 bp −$1,425	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	−0.0141%	4h	0.2171	−0.074%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2172	−0.032%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2171	−0.074%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.278%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2172	−0.051%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2171	−0.087%	$55K	$477K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2171	−0.081%	$577K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2173	−0.009%	$117.8M	$75.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2172	−0.047%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2172	−0.051%	$408K	$532K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2172	−0.046%	$131.5M	$426.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2172	−0.051%	$87.6M	$179.1M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2173	long leg	$21.7M	$109.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2175	+0.087%	$21K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2172	−0.041%	$80K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2182	+0.396%	$96K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2170	−0.138%	$11.5M	$24.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2171	−0.083%	$48.3M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2172	−0.023%	$25.3M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2170	−0.138%	$49.3M	$59.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2171	−0.069%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2182	+0.404%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2179	+0.264%	$257K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2179	+0.269%	$364K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2178	+0.235%	$20K	$650K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2172	−0.060%	$192K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2119	−2.499%	$954	$893K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2172	−0.041%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2182	+0.405%	$273K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2172	−0.041%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2171	−0.078%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2171	−0.071%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2172	−0.060%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2176	+0.156%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2174	+0.067%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0191%	1h	0.2172	−0.048%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0240%	1h	0.2174	+0.037%	$5.2M	$13.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2171	−0.090%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2179	+0.272%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2171	−0.106%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0542%	1h	0.2175	+0.115%	$398K	$423K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2178	+0.216%	$894K	$1.8M	50x	as long as short