Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Gate against BingX+0.104%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 7 days−0.076%−$8 · spread now +0.104%, 7d avg +0.008%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.096% dearer against BingX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDT	0.2112	0.0100	pay 0.0050% / 4h	2h 10m	—	$32.6M	—
Short	Gate ENA_USDT	0.2114	0.0100	get 0.0050% / 4h	2h 10m	$11.0M	$21.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.104%Rate

Funding earned: $0
Price spread: +0.104% → +0.008%: $9.63
Slippage, 4 orders: −$24.08
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$39.45
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Gate: live order book, 3 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 BingX live order book, 13 min ago	0.47 bp	5.5 bp −$5	7.0 bp −$70	16.0 bp −$1,600	47.9 bp −$23.9K
Sell Gate live order book, 3 min ago	1.89 bp	19.3 bp −$19	33.4 bp −$334	55.6 bp −$5,556	93.2 bp −$46.6K

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	+0.232%	$79K	$1.4M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2114	+0.095%	$86K	—	150x	as long as short
dYdX ENA-USD	+0.0012%	1h	0.2111	−0.053%	$139K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.540%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0035%	4h	0.2115	+0.152%	$44K	$28K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+0.142%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	+0.161%	$680K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2115	+0.157%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2110	−0.090%	$412K	$543K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2109	−0.123%	$130.0M	$439.8M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2112	0.000%	$86.4M	$183.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2113	+0.047%	$20.7M	$106.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	+0.634%	$19K	$390K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	0.000%	$78K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.665%	$93K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2114	+0.104%	$11.0M	$21.7M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2111	−0.066%	$44.8M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	+0.123%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2111	−0.066%	$48.0M	$60.2M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2112	long leg	—	$32.6M	—
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2117	+0.237%	$381K	$382K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	+0.084%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.561%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.237%	$352K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.237%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	+0.289%	$182K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.079%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	+0.237%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.322%	$275K	$829K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	+0.189%	$1.9M	$9.1M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	−0.143%	$47K	$110	10x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2117	+0.223%	$4K	$302	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+0.213%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2122	+0.469%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0200%	1h	0.2111	−0.037%	$1.6M	$4.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2114	+0.100%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0252%	1h	0.2117	+0.258%	$2.7M	$4.4M	50x	as long as short
Lighter ENA	+0.0400%	1h	0.2112	+0.024%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2117	+0.250%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0493%	1h	0.2115	+0.133%	$113.9M	$72.8M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2120	+0.388%	$831K	$1.6M	50x	as long as short