Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against Gate−0.150%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days+0.140%+$14 · spread now −0.150%, 7d avg −0.019%

Together, before fees+0.103%+$10 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: Bybit is 0.131% cheaper against Gate than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2138	0.0100	pay 0.0050% / 4h	3h 05m	$13.4M	$28.3M	50x
Short	Bybit ENAUSDT	0.2135	0.0100	get 0.0050% / 4h	3h 05m	$88.3M	$189.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.150%Rate

Funding earned: $0
Price spread: −0.150% → −0.019%: −$13.08
Slippage, 4 orders: −$25.87
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.96
Costs to cover: 0.519%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	3.75 bp	17.1 bp −$17	36.2 bp −$362	60.4 bp −$6,043	98.5 bp −$49.2K
Sell Bybit live order book, 4 min ago	0.23 bp	9.2 bp −$9	17.1 bp −$171	59.2 bp −$5,922	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
Phemex ENAUSDT	−0.0120%	4h	0.2135	−0.136%	$1.9M	$9.0M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0105%	4h	0.2136	−0.103%	$44K	$15K	10x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2140	+0.084%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2137	−0.033%	$61K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2135	−0.131%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−0.748%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0046%	4h	0.2133	−0.215%	$48.1M	$59.8M	75x	as long as short
dYdX ENA-USD	+0.0080%	1h	0.2140	+0.081%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2136	−0.070%	$5.0M	$13.2M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2139	+0.051%	$55K	$486K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0099%	8h	0.2138	−0.016%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2137	−0.048%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2140	+0.075%	$117.0M	$75.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2137	−0.042%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2139	+0.045%	$409K	$549K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2135	−0.136%	$129.0M	$422.4M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2135	−0.150%	$88.3M	$189.8M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2135	−0.112%	$21.1M	$106.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2134	−0.206%	$39K	$329K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2139	+0.051%	$80K	$247K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2138	long leg	$13.4M	$28.3M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2135	−0.136%	$42.1M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2137	−0.061%	$25.1M	$15.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2135	−0.159%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2136	−0.080%	$413K	$476K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2135	−0.136%	$3.1M	$8.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2134	−0.161%	$252K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2134	−0.160%	$358K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2135	−0.136%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2139	+0.033%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2088	−2.353%	$1K	$920K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2135	−0.136%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2141	+0.131%	$264K	$812K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2133	−0.206%	$104K	$12K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2134	−0.172%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2137	−0.058%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2138	0.000%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2136	−0.073%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2137	−0.051%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2134	−0.182%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2135	−0.117%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2137	−0.047%	$790K	$2.0M	50x	as long as short