Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Ondo Perps−0.441%7-day average −0.058% · you buy dearer than you sell

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

Long on Ondo Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.647%+$65 · spread now −0.441%, 7d avg −0.058%

Together, before fees+0.654%+ Points / potential airdropOndo Perps: Active · farm board+$65 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: BingX is 0.383% cheaper against Ondo Perps than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2111	0.0100	pay 0.0013% / 1h	52m 54s	$27K	$332K	5x
Short	BingX ENA-USDT	0.2101	0.0100	get 0.0050% / 4h	1h 52m	—	$30.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Ondo Perps. 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 Ondo PerpsbpFee BingXbpOrdersPrice spread, now −0.441%Rate

Funding earned: $0
Price spread: −0.441% → −0.058%: −$38.28
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$53.28
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; BingX: live order book, 4 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 BingX live order book, 4 min ago	0.71 bp	6.6 bp −$7	9.2 bp −$92	15.7 bp −$1,572	37.5 bp −$18.7K

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 exchanges

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	−0.0180%	4h	0.2102	−0.407%	$44K	$14K	10x	as long as short
01 Exchange ENAUSD	−0.0176%	1h	0.2103	−0.360%	$4K	$60	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0133%	1h	0.2102	−0.390%	$2.6M	$3.8M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0083%	1h	0.2102	−0.389%	$104K	$1.2M	50x	as long as short
Bitget ENAUSDT	−0.0044%	4h	0.2100	−0.512%	$47.3M	$56.0M	75x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2102	−0.394%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+0.535%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2103	−0.341%	$4.9M	$12.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2104	−0.313%	$57K	$390K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.232%	$47K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2104	−0.298%	$586K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2102	−0.400%	$113.5M	$77.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	−0.336%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	−0.194%	$388K	$527K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2101	−0.455%	$126.2M	$407.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2101	−0.450%	$86.4M	$184.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	−0.441%	$20.8M	$99.5M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2111	long leg	$27K	$332K	5x
Arcus ENA-USD	+0.0100%	1h	0.2106	−0.218%	$78K	$236K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	+0.065%	$103K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2101	−0.436%	$13.7M	$26.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2101	−0.441%	$42.0M	$40.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	−0.360%	$24.9M	$15.5M	75x	as long as short
BingX ENA-USDTshort	+0.0100%	4h	0.2101	−0.441%	—	$30.2M	—
Variational Omni ENA	+0.0100%	4h	0.2110	−0.028%	$3.0M	$8.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	+0.033%	$245K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	+0.019%	$357K	$4.4M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.019%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2104	−0.289%	$166K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2054	−2.682%	$997	$918K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	−0.407%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2109	−0.071%	$264K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.407%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.476%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2102	−0.424%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2109	−0.099%	$13K	$278K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0756%	1h	0.2103	−0.341%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	−0.379%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2104	−0.335%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2112	+0.062%	$778K	$1.9M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0604%	1h	0.2102	−0.393%	$404K	$474K	5x	as long as short
dYdX ENA-USD	+0.1184%	1h	0.2109	−0.079%	$139K	$15K	5x	as long as short