Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.021%

Price spread now: Injective against Gate−1.279%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.279% cheaper against Gate than usual: you would sell low and buy high (−$128 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.193%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2151	0.0100	pay 0.0050% / 4h	3h 19m	$11.0M	$21.3M	50x
Short	Injective ENA/USDC PERP	0.2123	0.0033	get 0.0004% / 1h	19m 05s	$522	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.279%Rate

Funding earned: −$14
Price spread: −1.279% → 0.000%: −$127.85
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$156.87
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.

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	4.20 bp	20.6 bp −$21	35.5 bp −$355	53.9 bp −$5,389	89.4 bp −$44.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2156	+0.237%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2157	+0.284%	$106K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0033%	1h	0.2123	−1.279%	$522	$57K	5.5x
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2155	+0.209%	$42K	$23K	10x	as long as short
dYdX ENA-USD	+0.0036%	1h	0.2151	−0.012%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2156	+0.237%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2155	+0.207%	$714K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2156	+0.225%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2150	−0.020%	$423K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2151	0.000%	$133.6M	$443.3M	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	0.2150	−0.023%	$88.7M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2151	0.000%	$21.1M	$110.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2145	−0.260%	$16K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2154	+0.144%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	−0.367%	$90K	−$0	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2151	long leg	$11.0M	$21.3M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2151	+0.023%	$45.9M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2152	+0.042%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2149	−0.079%	$48.8M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2150	−0.028%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2153	+0.107%	$383K	$410K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.298%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.303%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.290%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.228%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2158	+0.335%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2101	−2.301%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2153	+0.098%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.330%	$281K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2151	+0.005%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2152	+0.041%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2156	+0.222%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2147	−0.163%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2156	+0.219%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2155	+0.176%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0320%	1h	0.2154	+0.154%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	+0.337%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2151	+0.023%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2157	+0.287%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2162	+0.497%	$856K	$1.8M	50x	as long as short
Lighter ENA	+0.0696%	1h	0.2154	+0.130%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0765%	1h	0.2155	+0.167%	$116.9M	$74.4M	10x	as long as short