Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.023%

Price spread now: gTrade (Gains Network) against Gate−0.207%7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$380as in the Price arb table

costs, in and out, $10k−$3563.555% of the position

Long on Gate Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.086%−$9 on $10k

Price spread, last 3 days (all we have)+0.279%+$28 · spread now −0.207%, 7d avg +0.040%

Together, before fees+0.193%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.246% cheaper against Gate than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2158	0.0100	pay 0.0050% / 4h	3h 16m	$11.0M	$21.4M	50x
Short	gTrade (Gains Network) ENA/USD	0.2154	L +0.0003% / S −0.0004%	get 0.0000% / 1h	16m 40s	$103K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.207%Rate

Funding earned: −$20.18
Price spread: −0.207% → +0.040%: −$24.63
Slippage, 4 orders: −$330.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$400.31
Costs to cover: 3.555%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 37 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	6.28 bp	17.4 bp −$17	27.3 bp −$273	54.7 bp −$5,470	95.1 bp −$47.6K
Sell gTrade (Gains Network) virtual book (oracle venue), 37 min ago	130.03 bp	135.0 bp −$135	748.2 bp −$7,482	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2154	−0.185%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0004%	1h	0.2154	−0.207%	$103K	—	150x
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2152	−0.264%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.608%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0069%	1h	0.2157	−0.045%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2158	−0.005%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2159	+0.030%	$715K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2159	+0.051%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2159	+0.038%	$425K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2158	0.000%	$134.5M	$442.5M	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	0.2158	−0.005%	$89.0M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2158	−0.009%	$21.2M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2156	−0.111%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2160	+0.088%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.371%	$94K	$4K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2158	long leg	$11.0M	$21.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2159	+0.023%	$46.1M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2160	+0.070%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2157	−0.074%	$48.9M	$61.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2158	+0.019%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2157	−0.046%	$384K	$409K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.630%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.635%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.622%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.561%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2156	−0.097%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2103	−2.567%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2153	−0.236%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.014%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2155	−0.144%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2159	+0.030%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2155	−0.165%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2153	−0.250%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0184%	1h	0.2158	+0.009%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2156	−0.108%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2158	0.000%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2154	−0.193%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2156	−0.093%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2154	−0.185%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2159	+0.051%	$855K	$1.8M	50x	as long as short
Lighter ENA	+0.0704%	1h	0.2162	+0.162%	$5.7M	$12.7M	10x	as long as short
Hyperliquid ENA	+0.0766%	1h	0.2162	+0.199%	$117.5M	$74.6M	10x	as long as short