Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Arcus against Gate+0.024%7-day average +0.054% · 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−$61as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.024%, 7d avg +0.054%

Together, before fees−0.050%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.030% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2112	0.0100	pay 0.0050% / 4h	31m 23s	$11.1M	$21.9M	50x
Short	Arcus ENA-USD	0.2113	0.0100	get 0.0013% / 1h	31m 23s	$79K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.054%: −$3.01
Slippage, 4 orders: −$38.76
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$61.27
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Arcus: live order book, 27 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 Gate live order book, 2 min ago	5.00 bp	15.9 bp −$16	30.9 bp −$309	53.7 bp −$5,370	92.3 bp −$46.1K
Sell Arcus live order book, 27 min ago	9.48 bp	12.5 bp −$12	26.6 bp −$266	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
Backpack ENA_USDC_PERP	−0.0235%	1h	0.2109	−0.142%	$364K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2113	+0.009%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0067%	4h	0.2112	−0.033%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.090%	$79K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	+0.005%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.516%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.710%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2114	+0.095%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.024%	$56K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.002%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2112	0.000%	$652K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2114	+0.090%	$112.4M	$73.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2114	+0.063%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2113	+0.010%	$412K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	0.000%	$128.8M	$415.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2113	+0.014%	$85.8M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2113	+0.009%	$20.9M	$103.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2094	−0.890%	$20K	$311K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2113	+0.024%	$79K	$275K	10x
Bulk ENA-USD	+0.0100%	1h	0.2093	−0.923%	$92K	$4K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2112	long leg	$11.1M	$21.9M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2113	+0.028%	$45.9M	$41.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+0.085%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2112	−0.043%	$48.0M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2113	+0.009%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−1.099%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	−0.811%	$241K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	−0.781%	$347K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	−0.402%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	+0.038%	$182K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.637%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2109	−0.166%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	−0.080%	$273K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2108	−0.213%	$1.7M	$8.8M	50x	as long as short
dYdX ENA-USD	+0.0102%	1h	0.2111	−0.085%	$139K	$15K	5x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2112	−0.043%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	−0.116%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0243%	1h	0.2110	−0.107%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2113	+0.016%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	−0.275%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.005%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2112	−0.005%	$860K	$1.5M	50x	as long as short