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: BingX against gTrade (Gains Network)+0.148%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on BingX

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.148% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2100	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	29m 54s	$96K	—	150x
Short	BingX ENA-USDT	0.2103	0.0100	get 0.0050% / 4h	2h 29m	—	$32.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.148%Rate

Funding earned: $20.28
Price spread: +0.148% → 0.000%: $14.81
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $15.09
Costs to cover: 0.200%
Break-even: 1.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 4 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	0.95 bp	6.0 bp −$6	6.9 bp −$69	10.1 bp −$1,013	30.1 bp −$15.1K

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	−0.0296%	1h	0.2102	+0.091%	$362K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2100	+0.015%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2099	−0.028%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2101	+0.043%	$93K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2100	long leg	$96K	—	150x
Gate ENA_USDT	+0.0008%	4h	0.2103	+0.143%	$10.4M	$21.6M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.124%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.204%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.038%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.045%	$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	0.2099	−0.052%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2102	+0.123%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	−0.019%	$403K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	+0.130%	$129.6M	$467.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2102	+0.115%	$87.8M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2103	+0.167%	$20.3M	$114.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+0.015%	$19K	$435K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	+0.010%	$82K	$223K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2103	+0.148%	$45.2M	$48.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	+0.186%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2102	+0.091%	$47.6M	$66.6M	75x	as long as short
BingX ENA-USDTshort	+0.0100%	4h	0.2103	+0.148%	—	$32.0M	—
Variational Omni ENA	+0.0100%	4h	0.2099	−0.045%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.120%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.296%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	−0.133%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2100	+0.029%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.438%	$1K	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	+0.010%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2103	+0.153%	$273K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	+0.010%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.030%	$89K	$2K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2100	−0.003%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2103	+0.135%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	+0.051%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2100	+0.010%	$50K	—	100x	as long as short
Lighter ENA	+0.0288%	1h	0.2103	+0.148%	$5.7M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0313%	1h	0.2103	+0.171%	$111.0M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2101	+0.058%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.035%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2108	+0.410%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8118%	1h	0.2100	0.000%	$139K	$15K	5x	as long as short