Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Ondo Perps−2.571%7-day average −2.421% · you buy dearer than you sell

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

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.359%+$36 · spread now −2.571%, 7d avg −2.421%

Together, before fees+0.368%+ Points / potential airdropOndo Perps: Active · farm board+$37 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: SunX is 0.150% cheaper against Ondo Perps than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −2.421%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2135	0.0100	pay 0.0013% / 1h	19m 07s	$19K	$402K	5x
Short	SunX ENA-USDT	0.2080	0.0100	get 0.0050% / 4h	2h 19m	$1K	$854K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpOrdersPrice spread, now −2.571%Rate

Funding earned: $0
Price spread: −2.571% → −2.421%: −$15.05
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$28.05
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 23 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 SunX live order book, 23 min ago	251.90 bp	doesn't fit	doesn't fit	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	0.2132	−0.164%	$80K	$1.5M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2131	−0.206%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0015%	1h	0.2132	−0.175%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.557%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0036%	4h	0.2131	−0.220%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2132	−0.164%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2131	−0.201%	$54K	$516K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.227%	$685K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2132	−0.159%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2132	−0.135%	$417K	$543K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2134	−0.083%	$132.1M	$443.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2133	−0.098%	$87.5M	$186.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2133	−0.098%	$20.9M	$107.9M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2135	long leg	$19K	$402K	5x
Arcus ENA-USD	+0.0100%	1h	0.2132	−0.155%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2135	−0.037%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2132	−0.136%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2132	−0.159%	$45.4M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2134	−0.080%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2133	−0.126%	$48.5M	$60.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2133	−0.089%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2134	−0.052%	$382K	$386K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2130	−0.227%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	−0.247%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	−0.295%	$352K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2131	−0.201%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2132	−0.178%	$183K	$2.4M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2080	−2.571%	$1K	$854K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2131	−0.201%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	−0.023%	$275K	$864K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2131	−0.201%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2132	−0.176%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	−0.219%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2129	−0.290%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2131	−0.201%	$1.6M	$4.1M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2133	−0.099%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2130	−0.239%	$51K	—	100x	as long as short
Lighter ENA	+0.0400%	1h	0.2134	−0.047%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2131	−0.179%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0490%	1h	0.2136	+0.023%	$115.4M	$72.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2136	+0.028%	$837K	$1.7M	50x	as long as short