Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h −0.083%

Price spread now: gTrade (Gains Network) against Aster−0.088%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$351as in the Price arb table

costs, in and out, $10k−$3423.418% of the position

Long on Aster Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.088% cheaper against Aster than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2117	0.0100	pay 0.0050% / 4h	1h 42m	$1.5M	$3.3M	50x
Short	gTrade (Gains Network) ENA/USD	0.2115	L +0.0004% / S −0.0004%	get 0.0000% / 1h	42m 47s	$82K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Aster. 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 AsterbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.088%Rate

Funding earned: −$20.25
Price spread: −0.088% → 0.000%: −$8.77
Slippage, 4 orders: −$323.77
Fee Aster: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$370.8
Costs to cover: 3.418%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; gTrade (Gains Network): virtual book (oracle venue), 56 min ago.

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 Aster live order book, 1 min ago	2.36 bp	9.0 bp −$9	20.0 bp −$200	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 56 min ago	130.03 bp	135.0 bp −$135	748.2 bp −$7,482	doesn't fit	doesn't fit

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
gTrade (Gains Network) ENA/USDshort	L +0.0004% / S −0.0004%	1h	0.2115	−0.088%	$82K	—	150x
Orderly PERP_ENA_USDC	+0.0011%	4h	0.2117	−0.039%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2112	−0.228%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.287%	$522	$57K	5.5x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0081%	1h	0.2118	+0.051%	$79K	$1.3M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.252%	$54K	$499K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2112	−0.228%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2119	+0.088%	$113.9M	$71.4M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2117	long leg	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2114	−0.168%	$413K	$516K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2117	+0.006%	$130.3M	$424.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.011%	$86.9M	$176.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	+0.022%	$20.8M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	−0.502%	$19K	$375K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	−0.252%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.204%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	+0.036%	$11.1M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.041%	$45.6M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.041%	$24.6M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.067%	$48.2M	$58.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	+0.003%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2118	+0.051%	$375K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	−0.347%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	−0.279%	$243K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	−0.410%	$350K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.110%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2114	−0.157%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.580%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	+0.032%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	−0.011%	$277K	$784K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	+0.032%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.249%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.026%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0120%	1h	0.2113	−0.211%	$140K	$15K	5x	as long as short
Extended ENA-USD	+0.0128%	1h	0.2117	+0.001%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0150%	1h	0.2109	−0.374%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2115	−0.093%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2120	+0.111%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2111	−0.308%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0376%	1h	0.2120	+0.150%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2113	−0.184%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2117	−0.001%	$833K	$1.5M	50x	as long as short