Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bitget against Gate−0.043%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days−0.012%−$1 · spread now −0.043%, 7d avg −0.048%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2096	0.0100	pay 0.0050% / 4h	3h 08m	$11.2M	$22.5M	50x
Short	Bitget ENAUSDT	0.2095	0.0100	get 0.0050% / 4h	3h 08m	$47.6M	$57.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.043%Rate

Funding earned: $0
Price spread: −0.043% → −0.048%: $0.54
Slippage, 4 orders: −$28.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$55.26
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Bitget: live order book, 5 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, 5 min ago	3.57 bp	18.6 bp −$19	34.4 bp −$344	57.4 bp −$5,744	96.6 bp −$48.3K
Sell Bitget live order book, 5 min ago	0.95 bp	11.6 bp −$12	16.1 bp −$161	38.9 bp −$3,890	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	−0.0128%	4h	0.2095	−0.043%	$44K	$25K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0079%	1h	0.2095	−0.072%	$357K	$400K	5x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2096	−0.024%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	−0.014%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2096	−0.011%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.293%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	−0.014%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2098	+0.090%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2096	−0.035%	$648K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2098	+0.100%	$113.9M	$73.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2098	+0.067%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	+0.104%	$399K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2097	+0.033%	$127.1M	$412.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2096	0.000%	$84.6M	$173.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2097	+0.052%	$20.9M	$102.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2097	+0.057%	$22K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.033%	$78K	$276K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2096	long leg	$11.2M	$22.5M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2096	−0.019%	$45.4M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	+0.043%	$24.7M	$15.5M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2095	−0.043%	$47.6M	$57.4M	75x
BingX ENA-USDC	+0.0100%	4h	0.2097	+0.010%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2098	+0.103%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	+0.298%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2103	+0.320%	$348K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2103	+0.320%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.019%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.304%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.014%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2100	+0.181%	$272K	$771K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.014%	$1.7M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2102	+0.276%	$92K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2097	+0.031%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	−0.036%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2102	+0.272%	$8K	$274K	10x	as long as short
Lighter ENA	+0.0160%	1h	0.2098	+0.100%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2097	+0.026%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2096	−0.015%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.010%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.039%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.601%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1130%	1h	0.2100	+0.174%	$139K	$15K	5x	as long as short