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 +0.005%

Price spread now: Gate against Bitget+0.024%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.024%, 7d avg +0.047%

Together, before fees−0.009%−$1 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 0.024% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2125	0.0100	pay 0.0050% / 4h	2h 51m	$48.2M	$61.3M	75x
Short	Gate ENA_USDT	0.2125	0.0100	get 0.0050% / 4h	2h 51m	$10.8M	$20.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.047%: −$2.39
Slippage, 4 orders: −$30.22
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.61
Costs to cover: 0.572%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 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 Bitget live order book, 3 min ago	0.71 bp	11.3 bp −$11	19.1 bp −$191	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.53 bp	13.9 bp −$14	33.5 bp −$335	55.2 bp −$5,519	92.9 bp −$46.5K

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	+0.080%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	+0.030%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2125	+0.014%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.071%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2126	+0.038%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0045%	1h	0.2125	−0.016%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.005%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	−0.018%	$700K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.167%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2124	−0.037%	$417K	$548K	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	0.2127	+0.081%	$132.2M	$444.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2125	+0.024%	$87.0M	$186.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.061%	$21.1M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.654%	$17K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.052%	$116K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.115%	$93K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2125	+0.024%	$10.8M	$20.7M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.028%	$44.8M	$43.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.071%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2125	long leg	$48.2M	$61.3M	75x
BingX ENA-USDC	+0.0100%	4h	0.2126	+0.042%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2130	+0.259%	$368K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2125	+0.015%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.182%	$244K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.036%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.052%	$32K	$689K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	+0.061%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.419%	$1K	$843K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	+0.052%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.193%	$275K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.099%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.059%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.037%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0176%	1h	0.2129	+0.169%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.409%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0251%	1h	0.2127	+0.118%	$2.7M	$5.0M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2126	+0.045%	$51K	—	100x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2126	+0.044%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.089%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	−0.004%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0526%	1h	0.2128	+0.159%	$114.7M	$74.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2123	−0.094%	$834K	$1.7M	50x	as long as short