Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: ApeX Omni against Bitget+0.024%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.024%, 7d avg +0.116%

Together, before fees−0.004%$0 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 0.092% cheaper against Bitget than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2117	0.0100	pay 0.0050% / 4h	21m 30s	$48.1M	$57.5M	75x
Short	ApeX Omni ENAUSDT	0.2118	0.0100	get 0.0013% / 1h	21m 30s	$20K	$647K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.116%: −$9.23
Slippage, 4 orders: −$31.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$63.01
Costs to cover: 0.538%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; ApeX Omni: live order book, 37 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	10.8 bp −$11	16.6 bp −$166	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	7.12 bp	15.5 bp −$16	156.2 bp −$1,562	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
Backpack ENA_USDC_PERP	−0.0179%	1h	0.2119	+0.047%	$363K	$397K	5x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2118	+0.024%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0069%	4h	0.2119	+0.052%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.052%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	+0.055%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.279%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+0.047%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	+0.024%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	+0.040%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	−0.012%	$657K	$1.7M	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	0.2122	+0.227%	$115.6M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2119	+0.085%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	+0.064%	$405K	$516K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	+0.062%	$129.0M	$416.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	+0.052%	$85.6M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.109%	$20.8M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.028%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	+0.024%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.047%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	+0.033%	$11.1M	$22.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.033%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.094%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2117	long leg	$48.1M	$57.5M	75x
BingX ENA-USDC	+0.0100%	4h	0.2118	+0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2116	−0.054%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2118	+0.028%	$245K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	+0.017%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2118	+0.024%	$20K	$647K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	+0.113%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.262%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	+0.071%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.213%	$274K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2117	−0.024%	$1.8M	$8.8M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2121	+0.151%	$5.2M	$13.5M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	−0.052%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.078%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0135%	1h	0.2119	+0.051%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2120	+0.132%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0291% / S −0.0316%	1h	0.2119	+0.052%	$65K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	+0.052%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	+0.065%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.444%	$869K	$1.7M	50x	as long as short