Funding arb · Price arb /

ENA

all ENA markets

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: SunX against gTrade (Gains Network)−2.346%7-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 SunX

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

Funding pays, the price is against you. SunX is 2.346% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −2.346% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$235 on $10k: about 3 months 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	0.2113	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	31m 10s	$82K	—	150x
Short	SunX ENA-USDT	0.2064	0.0100	get 0.0050% / 4h	1h 31m	$881	$840K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.346%Rate

Funding earned: $20.23
Price spread: −2.346% → 0.000%: −$234.6
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$232.37
Costs to cover: 0.180%
Break-even: 87.4 days

Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 68 min ago; SunX: live order book, 71 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) virtual book (oracle venue), 68 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15424.9 bp −$1.54M	doesn't fit
Sell SunX live order book, 71 min ago	251.90 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0006%	4h	0.2113	−0.027%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	+0.020%	$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	0.2114	+0.039%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.474%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0089%	1h	0.2112	−0.072%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2113	−0.018%	$55K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.004%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2116	+0.105%	$113.7M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2114	+0.018%	$1.5M	$3.0M	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	0.2113	−0.007%	$413K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	+0.066%	$129.8M	$420.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	+0.062%	$86.7M	$175.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	+0.110%	$20.8M	$102.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.204%	$19K	$366K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2113	−0.018%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.077%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2114	+0.025%	$11.1M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	+0.086%	$45.4M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2115	+0.096%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2113	+0.001%	$48.2M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2114	+0.029%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2112	−0.079%	$374K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	−0.026%	$3.4M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2118	+0.198%	$244K	$7.4M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.173%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.124%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2114	+0.020%	$183K	$2.3M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2064	−2.346%	$881	$840K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2114	+0.029%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.176%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+0.029%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.050%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2113	−0.028%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	+0.009%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2116	+0.105%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2113	−0.006%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2116	+0.105%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.062%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0392%	1h	0.2117	+0.176%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.043%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2118	+0.200%	$833K	$1.5M	50x	as long as short