Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Ondo Perps against Bitget+0.124%7-day average +0.109% · you sell dearer than you buy

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

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.124%, 7d avg +0.109%

Together, before fees−0.154%+ Points / potential airdropOndo Perps: Active · farm board−$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2089	0.0100	pay 0.0050% / 4h	1h 26m	$47.3M	$65.2M	75x
Short	Ondo Perps ENA-USD.P	0.2092	0.0100	get 0.0013% / 1h	26m 29s	$15K	$405K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.109%: $1.56
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$15.44
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	0.48 bp	9.7 bp −$10	16.6 bp −$166	34.3 bp −$3,435	doesn't fit
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	−0.0088%	1h	0.2091	+0.105%	$361K	$454K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0057%	4h	0.2090	+0.043%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	+0.072%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	+0.079%	$100K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.647%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2092	+0.149%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2089	0.000%	$61K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	+0.007%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2089	+0.019%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.056%	$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	0.2090	+0.059%	$404K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.077%	$128.9M	$457.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	+0.029%	$86.9M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	+0.086%	$20.1M	$111.6M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2092	+0.124%	$15K	$405K	5x
Arcus ENA-USD	+0.0100%	1h	0.2090	+0.048%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.024%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2091	+0.072%	$10.4M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	+0.053%	$45.3M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.105%	$23.8M	$16.5M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2089	long leg	$47.3M	$65.2M	75x
BingX ENA-USDC	+0.0100%	4h	0.2090	+0.067%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2090	+0.033%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.108%	$248K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2092	+0.144%	$360K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	+0.144%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	+0.096%	$182K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2041	−2.303%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	+0.096%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2091	+0.115%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	+0.048%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	+0.075%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	+0.077%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0120%	1h	0.2091	+0.081%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0235% / S −0.0398%	1h	0.2090	+0.069%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0304%	1h	0.2089	−0.020%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	+0.053%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	+0.047%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0536%	1h	0.2093	+0.177%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0575%	1h	0.2094	+0.225%	$110.6M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2092	+0.144%	$804K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1938%	1h	0.2090	+0.061%	$138K	$15K	5x	as long as short