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 +0.004%

Price spread now: OKX against Gate−0.033%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.033%, 7d avg −0.002%

Together, before fees−0.032%−$3 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: OKX is 0.032% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2101	0.0100	pay 0.0050% / 4h	3h 12m	$11.2M	$22.4M	50x
Short	OKX ENA-USDT-SWAP	0.2100	0.0100	get 0.0050% / 4h	3h 12m	$20.9M	$102.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.002%: −$3.18
Slippage, 4 orders: −$29.82
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; OKX: 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	3.57 bp	18.6 bp −$19	34.4 bp −$344	57.4 bp −$5,744	96.6 bp −$48.3K
Sell OKX live order book, 1 min ago	0.24 bp	12.5 bp −$13	23.6 bp −$236	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
Orderly PERP_ENA_USDC	−0.0124%	4h	0.2102	+0.052%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0072%	1h	0.2103	+0.090%	$358K	$400K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	+0.076%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2103	+0.092%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2100	−0.071%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.061%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.100%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2100	−0.069%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2103	+0.079%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	−0.016%	$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	0.2102	+0.039%	$400K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.102%	$127.2M	$413.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2099	−0.124%	$84.8M	$174.2M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2100	−0.033%	$20.9M	$102.9M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	+0.138%	$22K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	−0.052%	$78K	$276K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2101	long leg	$11.2M	$22.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2102	+0.029%	$45.5M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	+0.071%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.119%	$47.6M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2100	−0.057%	—	$31.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2106	+0.223%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	+0.223%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	+0.233%	$348K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	+0.424%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2103	+0.095%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2052	−2.346%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	+0.043%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.228%	$272K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	+0.043%	$1.7M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2102	+0.047%	$92K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2099	−0.109%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2103	+0.071%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2104	+0.148%	$8K	$274K	10x	as long as short
Hyperliquid ENA	+0.0118%	1h	0.2104	+0.124%	$114.3M	$74.1M	10x	as long as short
Lighter ENA	+0.0168%	1h	0.2103	+0.081%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2104	+0.122%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2103	+0.080%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	+0.057%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2102	+0.048%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.371%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1095%	1h	0.2102	+0.040%	$139K	$15K	5x	as long as short