Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.083%

Price spread now: Aster against gTrade (Gains Network)+0.047%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$340as in the Price arb table

costs, in and out, $10k−$3403.397% of the position

Long on gTrade (Gains Network)Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.205%+$20 on $10k

Price spread, last 3 days (all we have)−0.147%−$15 · spread now +0.047%, 7d avg +0.046%

Together, before fees+0.058%+ Points / potential airdropAster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2121	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	7m 12s	$97K	—	150x
Short	Aster ENAUSDT	0.2122	0.0100	get 0.0050% / 4h	7m 12s	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now +0.047%Rate

Funding earned: $20.28
Price spread: +0.047% → +0.046%: $0.03
Slippage, 4 orders: −$321.65
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$319.34
Costs to cover: 3.397%
Break-even: 117.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 77 min ago; Aster: live order book, 1 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 gTrade (Gains Network) virtual book (oracle venue), 77 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15425.0 bp −$1.54M	doesn't fit
Sell Aster live order book, 1 min ago	2.35 bp	11.7 bp −$12	18.6 bp −$186	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	+0.004%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2121	long leg	$97K	—	150x
Orderly PERP_ENA_USDC	+0.0007%	4h	0.2120	−0.038%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.103%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0055%	1h	0.2127	+0.249%	$377K	$444K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	−0.104%	$62K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	−0.019%	$678K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2122	+0.047%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2123	+0.104%	$410K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	+0.051%	$131.5M	$449.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2122	+0.056%	$89.2M	$188.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	+0.099%	$20.6M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.103%	$15K	$390K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.084%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.222%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	−0.038%	$10.7M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.113%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2123	+0.089%	$24.6M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.048%	$48.1M	$63.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	−0.024%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	−0.013%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.184%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.273%	$361K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2127	+0.273%	$34K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	−0.029%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.329%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	+0.037%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.344%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	+0.037%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	+0.038%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	−0.013%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2127	+0.264%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	+0.108%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2121	+0.001%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2123	+0.096%	$2.7M	$5.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2121	−0.002%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	+0.033%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.062%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2126	+0.221%	$839K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2125	+0.169%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0748%	1h	0.2124	+0.127%	$114.5M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1181%	1h	0.2126	+0.205%	$140K	$15K	5x	as long as short