Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Binance+0.024%7-day average — · you sell dearer than you buy

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

Long on Binance 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—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.024% dearer against Binance than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2099	0.0100	pay 0.0050% / 4h	2h 31m	$129.4M	$467.4M	75x
Short	gTrade (Gains Network) ENA/USD	0.2100	L +0.0003% / S −0.0003%	get 0.0000% / 1h	31m 02s	$96K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.024%Rate

Funding earned: −$20.38
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$37.99
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 13 min ago; gTrade (Gains Network): 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 Binance live order book, 13 min ago	0.24 bp	7.3 bp −$7	11.6 bp −$116	37.0 bp −$3,698	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Backpack ENA_USDC_PERP	−0.0300%	1h	0.2100	+0.043%	$361K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2099	−0.014%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2100	+0.019%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.019%	$93K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0003%	1h	0.2100	+0.024%	$96K	—	150x
Gate ENA_USDT	+0.0006%	4h	0.2099	−0.014%	$10.4M	$21.6M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.148%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.181%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2100	+0.033%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.017%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2099	−0.021%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.102%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2100	+0.025%	$403K	$585K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2099	long leg	$129.4M	$467.4M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.043%	$87.7M	$193.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.005%	$20.3M	$114.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2101	+0.067%	$19K	$435K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.014%	$82K	$223K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.010%	$45.2M	$48.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	+0.067%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.071%	$47.5M	$66.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2099	−0.033%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.349%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.097%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.273%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	−0.110%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.091%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.420%	$898	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.014%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2103	+0.176%	$273K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	−0.014%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.054%	$89K	$2K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2099	+0.009%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.040%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	+0.020%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2100	+0.030%	$50K	—	100x	as long as short
Lighter ENA	+0.0280%	1h	0.2102	+0.119%	$5.7M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0303%	1h	0.2102	+0.110%	$110.9M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2101	+0.081%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.004%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2108	+0.433%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8354%	1h	0.2100	+0.023%	$139K	$15K	5x	as long as short