Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: MEXC against gTrade (Gains Network)−0.051%7-day average −0.021% · 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−$329as in the Price arb table

costs, in and out, $10k−$3263.261% of the position

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.092%+$9 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.051%, 7d avg −0.021%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.031% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.021%). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2118	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	36m 35s	$97K	—	150x
Short	MEXC ENA_USDT	0.2117	0.0100	get 0.0050% / 4h	3h 36m	$46.3M	$44.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.051%Rate

Funding earned: $20.28
Price spread: −0.051% → −0.021%: −$3.06
Slippage, 4 orders: −$316.07
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$308.85
Costs to cover: 3.261%
Break-even: 113.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 17 min ago; MEXC: live order book, 2 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), 17 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15425.0 bp −$1.54M	doesn't fit
Sell MEXC live order book, 2 min ago	0.24 bp	2.4 bp −$2	9.0 bp −$90	45.1 bp −$4,508	74.1 bp −$37.1K

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	−0.0003%	1h	0.2120	+0.062%	$377K	$415K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.010%	$86K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2118	long leg	$97K	—	150x
Orderly PERP_ENA_USDC	+0.0024%	4h	0.2118	−0.023%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0033%	1h	0.2119	+0.028%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.237%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.113%	$62K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2118	+0.003%	$674K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2119	+0.021%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	−0.028%	$410K	$552K	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	0.2117	−0.088%	$131.3M	$445.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	−0.141%	$89.0M	$186.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	−0.023%	$20.8M	$109.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	+0.005%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.076%	$105K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.089%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.080%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2117	−0.051%	$46.3M	$44.2M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.034%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.132%	$48.0M	$61.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	−0.061%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.017%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	−0.044%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.066%	$356K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.018%	$34K	$709K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	+0.010%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2069	−2.322%	$805	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	−0.018%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.137%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.029%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.050%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2118	−0.008%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.019%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0224%	1h	0.2118	−0.028%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2120	+0.093%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2118	−0.006%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2117	−0.065%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	+0.029%	$5.6M	$2.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.024%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0600%	1h	0.2120	+0.100%	$5.6M	$12.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2120	+0.067%	$837K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0699%	1h	0.2121	+0.109%	$114.4M	$75.3M	10x	as long as short