Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Ondo Perps−0.141%7-day average +0.023% · you buy dearer than you sell

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

Long on Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 4 days (all we have)+0.643%+$64 · spread now −0.141%, 7d avg +0.023%

Together, before fees+0.410%+ Points / potential airdropOndo Perps: Active · farm board+$41 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: Polymarket Perps is 0.165% cheaper against Ondo Perps than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2121	0.0100	pay 0.0013% / 1h	54m 11s	$19K	$383K	5x
Short	Polymarket Perps ENA-USD	0.2118	0.0100	get 0.0013% / 1h	54m 11s	$182K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.141%Rate

Funding earned: $0
Price spread: −0.141% → +0.023%: −$16.46
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.46
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 5 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 Polymarket Perps live order book, 5 min ago	2.12 bp	6.6 bp −$7	7.9 bp −$79	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	−0.090%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2118	−0.137%	$87K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0025%	4h	0.2118	−0.141%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2118	−0.137%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.132%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0058%	1h	0.2120	−0.047%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	−0.264%	$54K	$500K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	−0.229%	$683K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2119	−0.085%	$113.9M	$71.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.119%	$1.5M	$3.3M	50x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2118	−0.114%	$414K	$519K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.191%	$130.3M	$427.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.226%	$86.6M	$177.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.160%	$20.8M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2121	long leg	$19K	$383K	5x
Arcus ENA-USD	+0.0100%	1h	0.2117	−0.170%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.170%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.174%	$11.1M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	−0.137%	$45.5M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	−0.141%	$24.6M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	−0.240%	$48.2M	$58.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.170%	—	$32.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	+0.349%	$3.8M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−0.263%	$247K	$7.4M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.303%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.264%	$32K	$646K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2118	−0.141%	$182K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.495%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	−0.123%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.118%	$276K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2117	−0.170%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.145%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2118	−0.123%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0136%	1h	0.2118	−0.130%	$1.6M	$4.1M	50x	as long as short
Lighter ENA	+0.0152%	1h	0.2120	−0.019%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	+0.014%	$7K	$298K	10x	as long as short
Backpack ENA_USDC_PERP	+0.0249%	1h	0.2118	−0.118%	$380K	$359K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2118	−0.133%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2119	−0.066%	$2.7M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2117	−0.175%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.505%	$838K	$1.6M	50x	as long as short