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 BingX−0.062%7-day average — · you buy dearer than you sell

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

Long on BingX 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.062% cheaper against BingX than usual: you would sell low and buy high (−$6 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	BingX ENA-USDT	0.2097	0.0100	pay 0.0050% / 4h	2h 33m	—	$32.0M	—
Short	gTrade (Gains Network) ENA/USD	0.2096	L +0.0003% / S −0.0003%	get 0.0000% / 1h	33m 51s	$96K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.062%Rate

Funding earned: −$20.38
Price spread: −0.062% → 0.000%: −$6.2
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$46.57
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 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 BingX live order book, 10 min ago	0.95 bp	6.0 bp −$6	6.9 bp −$69	10.9 bp −$1,094	22.5 bp −$11.3K
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	−0.0333%	1h	0.2097	−0.005%	$361K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2096	−0.048%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2096	−0.067%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	−0.033%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0003%	1h	0.2096	−0.062%	$96K	—	150x
Gate ENA_USDT	+0.0006%	4h	0.2097	0.000%	$10.4M	$21.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.254%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.095%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.100%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	−0.073%	$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	0.2094	−0.168%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2097	−0.017%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	−0.084%	$402K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2097	+0.002%	$129.3M	$467.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2096	−0.033%	$87.7M	$193.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2097	−0.005%	$20.2M	$114.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.315%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	−0.052%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.148%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	+0.010%	$44.7M	$48.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.072%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2096	−0.048%	$47.5M	$66.6M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2097	long leg	—	$32.0M	—
Variational Omni ENA	+0.0100%	4h	0.2092	−0.244%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	−0.295%	$248K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.180%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.196%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.029%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.499%	$1K	$806K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.100%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2097	−0.010%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.052%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2097	−0.023%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.020%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	−0.019%	$2.7M	$5.8M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0161%	1h	0.2096	−0.047%	$50K	—	100x	as long as short
Lighter ENA	+0.0272%	1h	0.2098	+0.057%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0298%	1h	0.2099	+0.072%	$110.8M	$80.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.105%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.115%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.176%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9157%	1h	0.2094	−0.152%	$138K	$15K	5x	as long as short