ENA: OKX → Lighter

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+108%

APR right now

Price gap

-0.005%

between legs

Average spread

+250%

over 24h from our own samples

Over 7 days

+250%

samples: 203

OKXLONG

Bid / ask0.20686 / 0.20687

Mark price0.20686

Volume 24h$82.84M

Open interest$19.96M

Rate+0.0050%

APR+11%

Interval / next payout4h / 17m

OKX

LighterSHORT

Bid / ask— / —

Mark price0.20686

Volume 24h$8.65M

Open interest$4.88M

Rate+0.0136%

APR+119%

Interval / next payout1h / 17m

Lighter

Spread from our samples

spread over the period: from 0% to 669% APR, 203 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.