Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: edgeX against gTrade (Gains Network)−0.002%68s7-day average — · you buy dearer than you sell

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

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

costs, in and out, $10k−$3543.539% of the position

Long on gTrade (Gains Network)Short on edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 68 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	gTrade (Gains Network) ENA/USD	0.2113	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	36m 28s	$82K	—	150x
Short	edgeX ENAUSDC	0.2113	0.0100	get 0.0050% / 4h	1h 36m	$244K	$7.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.002%Rate

Funding earned: $20.23
Price spread: −0.002% → 0.000%: −$0.18
Slippage, 4 orders: −$334.86
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$333.8
Costs to cover: 3.539%
Break-even: 122.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 63 min ago; edgeX: 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 gTrade (Gains Network) virtual book (oracle venue), 63 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15424.9 bp −$1.54M	doesn't fit
Sell edgeX live order book, 3 min ago	11.87 bp	16.4 bp −$16	17.9 bp −$179	49.1 bp −$4,913	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	−0.0002%	4h	0.2113	−0.001%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.133%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2113	long leg	$82K	—	150x
01 Exchange ENAUSD	+0.0008%	1h	0.2112	−0.062%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.472%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.115%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	−0.136%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2113	−0.015%	$113.6M	$71.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2112	−0.052%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2112	−0.073%	$413K	$511K	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	0.2114	+0.023%	$129.8M	$421.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2114	+0.013%	$86.7M	$176.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	+0.065%	$20.8M	$102.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	−0.361%	$19K	$364K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	−0.067%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.020%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2112	−0.067%	$11.0M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2111	−0.124%	$45.4M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	−0.081%	$24.6M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2110	−0.171%	$48.1M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2113	−0.010%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2111	−0.096%	$374K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	−0.070%	$3.4M	$10.3M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2113	−0.002%	$244K	$7.3M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	−0.351%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2105	−0.398%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	−0.058%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2058	−2.627%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	−0.162%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.150%	$277K	$779K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2112	−0.067%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.088%	$47K	$110	10x	as long as short
dYdX ENA-USD	+0.0103%	1h	0.2111	−0.134%	$139K	$15K	5x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.118%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	−0.184%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2107	−0.299%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2114	+0.010%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2111	−0.115%	$2.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2109	−0.185%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0352%	1h	0.2114	+0.023%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	−0.132%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2114	+0.013%	$831K	$1.5M	50x	as long as short