Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1081%/8h= +118.4% APRpaid last 24h +0.698%

Price spread now: dYdX against Gate+0.243%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$629as in the Funding arb table

Net, price: spread back to 7d avg − costs−$714as in the Price arb table

costs, in and out, $10k−$7377.367% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.077%+$108 on $10k

Price spread, last 4 days (all we have)−0.124%−$12 · spread now +0.243%, 7d avg +0.011%

Together, before fees+0.953%+$95 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and dYdX is 0.232% dearer against Gate than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2120	0.0100	pay 0.0050% / 4h	7m 19s	$10.7M	$21.7M	50x
Short	dYdX ENA-USD	0.2126	0.1181	get 0.0148% / 1h	7m 19s	$140K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.243%Rate

Funding earned: $227.08
Price spread: +0.243% → +0.011%: $23.19
Slippage, 4 orders: −$711.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$486.47
Costs to cover: 7.367%
Break-even: 22.0 days

Slippage from Gate: live order book, 1 min ago; dYdX: live order book, 7 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, 1 min ago	3.76 bp	20.3 bp −$20	35.2 bp −$352	56.7 bp −$5,665	95.7 bp −$47.8K
Sell dYdX live order book, 7 min ago	195.88 bp	352.0 bp −$352	615.6 bp −$6,156	781.5 bp −$78.1K	1519.3 bp −$759.6K

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	+0.042%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2121	+0.038%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0007%	4h	0.2120	0.000%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.141%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0055%	1h	0.2127	+0.288%	$377K	$444K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	−0.066%	$62K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	+0.019%	$678K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.085%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2123	+0.142%	$410K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	+0.090%	$131.5M	$449.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2122	+0.094%	$89.2M	$188.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	+0.137%	$20.6M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.141%	$15K	$390K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.123%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.260%	$90K	$500	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2120	long leg	$10.7M	$21.7M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.151%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2123	+0.127%	$24.6M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.009%	$48.1M	$63.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	+0.014%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	+0.026%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.222%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.311%	$361K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2127	+0.311%	$34K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	+0.009%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.292%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	+0.075%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.382%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	+0.075%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	+0.076%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	+0.025%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2127	+0.302%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	+0.146%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2121	+0.039%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2123	+0.135%	$2.7M	$5.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2121	+0.036%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	+0.071%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.024%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2126	+0.259%	$839K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2125	+0.208%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0748%	1h	0.2124	+0.165%	$114.5M	$78.3M	10x	as long as short
dYdX ENA-USDshort	+0.1181%	1h	0.2126	+0.243%	$140K	$15K	5x