Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.007%

Price spread now: Gate against Aevo−0.002%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ENA-PERP	0.2090	0.0104	pay 0.0013% / 1h	51m 49s	$77K	$11K	3x
Short	Gate ENA_USDT	0.2090	0.0100	get 0.0050% / 4h	1h 51m	$10.4M	$21.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aevo. 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 AevobpFee GatebpOrdersPrice spread, now −0.002%Rate

Funding earned: −$0.84
Price spread: −0.002% → 0.000%: −$0.19
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$32.03
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 2 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 Aevo no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	5.02 bp	19.7 bp −$20	33.3 bp −$333	55.5 bp −$5,554	91.7 bp −$45.9K

Aevo: 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	−0.0078%	4h	0.2090	−0.021%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0046%	1h	0.2091	+0.051%	$361K	$484K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	+0.012%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	+0.032%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.582%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2091	+0.040%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2093	+0.118%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2092	+0.079%	$60K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2092	+0.082%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2092	+0.065%	$656K	$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
Aster ENAUSDT	+0.0100%	4h	0.2091	+0.052%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2093	+0.115%	$405K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2090	−0.023%	$128.6M	$463.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.055%	$86.9M	$193.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2089	−0.045%	$20.2M	$112.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.381%	$20K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	+0.127%	$82K	$223K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2090	−0.002%	$10.4M	$21.1M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2090	+0.003%	$45.0M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	+0.055%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2088	−0.112%	$47.2M	$65.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.021%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	+0.131%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.275%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.287%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	+0.319%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	+0.103%	$187K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2042	−2.317%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	+0.032%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	+0.381%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	−0.016%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.328%	$88K	$2K	10x	as long as short
Aevo ENA-PERPlong	+0.0104%	1h	0.2090	long leg	$77K	$11K	3x
Phoenix ENA	+0.0115%	1h	0.2092	+0.099%	$5K	$356K	10x	as long as short
Extended ENA-USD	+0.0216%	1h	0.2090	−0.036%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0218% / S −0.0358%	1h	0.2091	+0.012%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	−0.031%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2091	+0.044%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0432%	1h	0.2092	+0.099%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0546%	1h	0.2093	+0.113%	$110.2M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.189%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1806%	1h	0.2091	+0.045%	$138K	$15K	5x	as long as short