Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.023%

Price spread now: Gate against gTrade (Gains Network)+0.155%7-day average −0.040% · 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−$336as in the Price arb table

costs, in and out, $10k−$3553.553% of the position

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.086%+$9 on $10k

Price spread, last 3 days (all we have)−0.228%−$23 · spread now +0.155%, 7d avg −0.040%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.195% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2148	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	29m 47s	$92K	—	150x
Short	Gate ENA_USDT	0.2152	0.0100	get 0.0050% / 4h	2h 29m	$11.1M	$21.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.155%Rate

Funding earned: $20.24
Price spread: +0.155% → −0.040%: $19.51
Slippage, 4 orders: −$330.31
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$315.56
Costs to cover: 3.553%
Break-even: 116.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 9 min ago; Gate: live order book, 4 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), 9 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15424.9 bp −$1.54M	doesn't fit
Sell Gate live order book, 4 min ago	5.88 bp	17.9 bp −$18	29.9 bp −$299	59.8 bp −$5,980	101.9 bp −$50.9K

ENA on 41 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	0.2147	−0.049%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2148	long leg	$92K	—	150x
dYdX ENA-USD	+0.0017%	1h	0.2145	−0.155%	$142K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.166%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0042%	4h	0.2147	−0.054%	$45K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2151	+0.137%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2151	+0.118%	$56K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2150	+0.079%	$700K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2153	+0.211%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2147	−0.070%	$420K	$548K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2152	+0.186%	$133.4M	$444.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2152	+0.169%	$88.4M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2152	+0.179%	$21.2M	$109.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−0.957%	$19K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2150	+0.072%	$117K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−2.010%	$92K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2152	+0.155%	$11.1M	$21.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2153	+0.197%	$46.0M	$44.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2152	+0.141%	$24.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2150	+0.053%	$48.9M	$61.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2152	+0.169%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2152	+0.151%	$372K	$376K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	−0.407%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−1.546%	$242K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−0.977%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−1.138%	$32K	$667K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2150	+0.090%	$182K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2100	−2.246%	$1K	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2148	−0.021%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.444%	$279K	$990K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2148	−0.021%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2145	−0.182%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2147	−0.080%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2138	−0.478%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2152	+0.170%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0248%	1h	0.2150	+0.062%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0252% / S −0.0206%	1h	0.2148	−0.020%	$51K	—	100x	as long as short
Lighter ENA	+0.0376%	1h	0.2154	+0.239%	$5.6M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2149	+0.028%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0535%	1h	0.2154	+0.263%	$116.5M	$73.2M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2111	−1.753%	$827K	$1.7M	50x	as long as short