Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against SunX+2.395%7-day average +2.416% · you sell dearer than you buy

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

Long on SunX 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)−0.875%−$88 · spread now +2.395%, 7d avg +2.416%

Together, before fees−0.883%+ Points / potential airdropOndo Perps: Active · farm board−$88 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: Ondo Perps is 0.021% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +2.416%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2079	0.0100	pay 0.0050% / 4h	3h 32m	$1K	$927K	20x
Short	Ondo Perps ENA-USD.P	0.2129	0.0100	get 0.0013% / 1h	32m 39s	$28K	$318K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against SunX. 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 SunXbpFee Ondo PerpsbpOrdersPrice spread, now +2.395%Rate

Funding earned: $0
Price spread: +2.395% → +2.416%: −$2.13
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$15.13
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 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 SunX live order book, 10 min ago	256.89 bp	doesn't fit	doesn't fit	doesn't fit	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
Orderly PERP_ENA_USDC	−0.0098%	4h	0.2127	+2.299%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2126	+2.236%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	+2.366%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2129	+2.379%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.121%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0074%	4h	0.2127	+2.289%	$13.3M	$27.5M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2129	+2.395%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+2.198%	$54K	$497K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2127	+2.286%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2127	+2.272%	$563K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2129	+2.385%	$116.0M	$76.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	+2.298%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+2.310%	$408K	$569K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2126	+2.264%	$129.0M	$430.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2126	+2.241%	$88.4M	$194.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	+2.270%	$21.0M	$108.5M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2129	+2.395%	$28K	$318K	5x
Arcus ENA-USD	+0.0100%	1h	0.2127	+2.294%	$79K	$282K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2140	+2.919%	$93K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+2.304%	$40.4M	$43.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+2.400%	$25.0M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	+2.145%	$48.1M	$61.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2126	+2.256%	—	$31.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2128	+2.337%	$414K	$478K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2131	+2.491%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	+2.435%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+2.389%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2138	+2.823%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+2.323%	$175K	$2.7M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2079	long leg	$1K	$927K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2128	+2.342%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2133	+2.592%	$265K	$838K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2129	+2.390%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2125	+2.198%	$1.6M	$4.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2135	+2.690%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0118%	1h	0.2128	+2.337%	$141K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2140	+2.938%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2129	+2.377%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2128	+2.321%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+2.357%	$5.7M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2129	+2.400%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2136	+2.722%	$793K	$2.0M	50x	as long as short