Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.011%

Price spread now: GRVT against Extended+0.019%92s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.436% of the position

Long on Extended Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days−0.096%−$10 · spread now +0.019%, 7d avg +0.046%

Together, before fees−0.141%+ Points / potential airdropExtended: Active · GRVT: Active · farm board−$14 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: GRVT is 0.027% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2126	0.0104	pay 0.0013% / 1h	15m 57s	$1.6M	$4.1M	50x
Short	GRVT ENA_USDT_Perp	0.2127	0.0100	get 0.0050% / 4h	1h 15m	$358K	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Extended. 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 ExtendedbpFee GRVTbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$0.84
Price spread: +0.019% → +0.046%: −$2.66
Slippage, 4 orders: −$29.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$47.07
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; GRVT: 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 Extended live order book, 3 min ago	0.23 bp	5.6 bp −$6	12.1 bp −$121	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	2.35 bp	17.5 bp −$18	doesn't fit	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
Orderly PERP_ENA_USDC	−0.0026%	4h	0.2124	−0.119%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	−0.063%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2125	−0.037%	$83K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2125	−0.044%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.129%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.053%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	−0.124%	$666K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2128	+0.078%	$114.5M	$71.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	−0.024%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	−0.004%	$415K	$506K	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	0.2125	−0.058%	$130.2M	$418.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.223%	$86.8M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	−0.190%	$20.9M	$102.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	−0.378%	$19K	$358K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	−0.053%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.918%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	−0.002%	$11.1M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2126	−0.025%	$46.0M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.036%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.293%	$48.3M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	−0.044%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2125	−0.049%	$376K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	−0.118%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	−0.043%	$245K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2127	+0.019%	$358K	$4.9M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.242%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	−0.030%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2075	−2.419%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.053%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.130%	$278K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	−0.053%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.066%	$48K	$110	10x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2126	long leg	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2125	−0.060%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2129	+0.135%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2126	−0.011%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0263%	1h	0.2126	+0.012%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2126	−0.013%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	−0.035%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0352%	1h	0.2126	−0.002%	$5.3M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.094%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2122	−0.209%	$836K	$1.5M	50x	as long as short