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 +0.006%

Price spread now: GRVT against Gate−0.138%51s7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.641% of the position

Long on Gate Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days+0.059%+$6 · spread now −0.138%, 7d avg +0.027%

Together, before fees+0.083%+ Points / potential airdropGRVT: Active · farm board+$8 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: GRVT is 0.165% cheaper against Gate than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.027%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2100	0.0100	pay 0.0050% / 4h	3h 32m	$11.1M	$22.4M	50x
Short	GRVT ENA_USDT_Perp	0.2097	0.0100	get 0.0050% / 4h	3h 32m	$352K	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.138%Rate

Funding earned: $0
Price spread: −0.138% → +0.027%: −$16.46
Slippage, 4 orders: −$40.14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$80.6
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; GRVT: live order book, 1 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	4.05 bp	17.2 bp −$17	34.4 bp −$344	54.0 bp −$5,401	91.5 bp −$45.8K
Sell GRVT live order book, 1 min ago	2.38 bp	16.8 bp −$17	71.0 bp −$710	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	−0.0140%	1h	0.2102	+0.076%	$358K	$403K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0095%	4h	0.2101	+0.029%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2102	+0.086%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2101	+0.044%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.105%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2100	+0.005%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.057%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2100	−0.014%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2100	−0.026%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.046%	$1.4M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2101	+0.047%	$400K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	−0.016%	$127.4M	$414.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.014%	$85.0M	$174.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2100	+0.010%	$20.9M	$103.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.029%	$22K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	−0.010%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.105%	$92K	$4K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2100	long leg	$11.1M	$22.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2100	−0.010%	$45.5M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2102	+0.076%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.033%	$47.7M	$57.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2100	+0.014%	—	$31.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.267%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	−0.210%	$240K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2097	−0.138%	$352K	$5.0M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2102	+0.086%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2102	+0.095%	$191K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.433%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2101	+0.038%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2102	+0.110%	$272K	$790K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2101	+0.038%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2099	−0.059%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2102	+0.069%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2095	−0.224%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2103	+0.121%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0208%	1h	0.2103	+0.119%	$5.2M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0265%	1h	0.2103	+0.143%	$114.3M	$74.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2101	+0.053%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	+0.081%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2101	+0.023%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2103	+0.143%	$859K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1066%	1h	0.2101	+0.044%	$139K	$15K	5x	as long as short