Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Bybit against OKX−0.024%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.024%, 7d avg −0.019%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2099	0.0100	pay 0.0050% / 4h	21m 17s	$21.0M	$106.7M	50x
Short	Bybit ENAUSDT	0.2099	0.0100	get 0.0050% / 4h	21m 17s	$90.1M	$187.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.019%: −$0.49
Slippage, 4 orders: −$23.26
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.76
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	0.24 bp	13.0 bp −$13	22.0 bp −$220	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.24 bp	10.7 bp −$11	17.3 bp −$173	49.3 bp −$4,925	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	−0.0089%	4h	0.2099	−0.029%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.029%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2099	+0.003%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2100	+0.052%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.143%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2101	+0.095%	$5.0M	$13.9M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.019%	$52K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.017%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2099	−0.002%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2101	+0.068%	$113.9M	$74.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.062%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	−0.004%	$405K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	+0.031%	$127.9M	$425.2M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2099	−0.024%	$90.1M	$187.5M	50x
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2099	long leg	$21.0M	$106.7M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.305%	$33K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	+0.029%	$78K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.214%	$91K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2100	+0.019%	$12.7M	$27.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2100	+0.019%	$39.1M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.033%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.071%	$47.6M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2099	0.000%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2099	−0.038%	$406K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	−0.321%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	−0.186%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.210%	$351K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	−0.019%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.005%	$181K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.396%	$1K	$908K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.019%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.081%	$264K	$814K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	−0.019%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.065%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	+0.058%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2101	+0.069%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2094	−0.238%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2099	−0.003%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	−0.029%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.021%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2098	−0.071%	$867K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.1034%	1h	0.2097	−0.138%	$138K	$16K	5x	as long as short