Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)−0.009%53s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on OKX

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

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 53 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	0.2111	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	51m 34s	$82K	—	150x
Short	OKX ENA-USDT-SWAP	0.2111	0.0100	get 0.0050% / 4h	3h 51m	$21.0M	$103.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $20.23
Price spread: −0.009% → 0.000%: −$0.95
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$0.71
Costs to cover: 0.200%
Break-even: 7.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.24 bp	10.6 bp −$11	22.3 bp −$223	87.5 bp −$8,746	doesn't fit

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	−0.0190%	1h	0.2110	−0.047%	$361K	$401K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2108	−0.123%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0034%	1h	0.2109	−0.090%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2111	long leg	$82K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.587%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2110	−0.057%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2109	−0.095%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	−0.087%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2109	−0.095%	$655K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2111	−0.017%	$1.5M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2110	−0.042%	$403K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2110	−0.062%	$128.3M	$415.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2109	−0.076%	$85.2M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2111	−0.009%	$21.0M	$103.8M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	+0.161%	$20K	$325K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2110	−0.047%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.206%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2109	−0.076%	$11.1M	$22.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2109	−0.071%	$46.0M	$40.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2111	−0.005%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	−0.137%	$48.0M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2109	−0.076%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.152%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2114	+0.133%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	+0.235%	$355K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.332%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2114	+0.123%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.331%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2109	−0.095%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.265%	$274K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	−0.095%	$1.7M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2112	+0.043%	$5.2M	$13.2M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2108	−0.137%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2109	−0.093%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2109	−0.085%	$8K	$274K	10x	as long as short
dYdX ENA-USD	+0.0136%	1h	0.2112	+0.040%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2110	−0.038%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2111	−0.008%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	+0.156%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0362%	1h	0.2112	+0.043%	$115.1M	$74.0M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	+0.010%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2116	+0.251%	$865K	$1.7M	50x	as long as short