Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Aster against Ondo Perps−0.562%7-day average +0.025% · you buy dearer than you sell

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

Long on Ondo Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 4 days (all we have)+0.743%+$74 · spread now −0.562%, 7d avg +0.025%

Together, before fees+0.867%+ Points / potential airdropOndo Perps: Active · Aster: Stage 5 · farm board+$87 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: Aster is 0.587% cheaper against Ondo Perps than usual: you would sell low and buy high, −$59 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2127	0.0100	pay 0.0013% / 1h	57m 13s	$19K	$384K	5x
Short	Aster ENAUSDT	0.2115	0.0100	get 0.0050% / 4h	1h 57m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Ondo Perps. 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 Ondo PerpsbpFee AsterbpOrdersPrice spread, now −0.562%Rate

Funding earned: $0
Price spread: −0.562% → +0.025%: −$58.67
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$71.67
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Aster: live order book, 1 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	2.36 bp	13.4 bp −$13	26.1 bp −$261	doesn't fit	doesn't fit

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 41 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
dYdX ENA-USD	0.0000%	1h	0.2117	−0.445%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	−0.588%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	−0.582%	$87K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2113	−0.639%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	+0.0028%	4h	0.2113	−0.644%	$44K	$27K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.165%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.701%	$54K	$501K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.646%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2118	−0.414%	$113.9M	$71.6M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2115	−0.562%	$1.5M	$3.3M	50x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2116	−0.498%	$413K	$519K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	−0.536%	$130.2M	$428.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.522%	$86.6M	$178.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.465%	$20.8M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2127	long leg	$19K	$384K	5x
Arcus ENA-USD	+0.0100%	1h	0.2114	−0.607%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.818%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.512%	$11.0M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	−0.498%	$45.4M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	−0.522%	$24.6M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.517%	$48.2M	$58.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	−0.442%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2129	+0.079%	$3.8M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.073%	$249K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.119%	$361K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	−0.089%	$32K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	−0.654%	$182K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−3.009%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	−0.607%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	−0.461%	$276K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	−0.559%	$1.8M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	−0.640%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	−0.607%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0128%	1h	0.2113	−0.634%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	−0.282%	$7K	$298K	10x	as long as short
Backpack ENA_USDC_PERP	+0.0192%	1h	0.2118	−0.428%	$380K	$363K	5x	as long as short
Lighter ENA	+0.0208%	1h	0.2117	−0.465%	$5.5M	$13.6M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2114	−0.605%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2116	−0.526%	$2.7M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2113	−0.655%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.207%	$838K	$1.6M	50x	as long as short