Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Binance against GRVT−0.179%89s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as 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−$490.494% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days+0.308%+$31 · spread now −0.179%, 7d avg −0.016%

Together, before fees+0.304%+ Points / potential airdropGRVT: Active · farm board+$30 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: Binance is 0.163% cheaper against GRVT than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 89 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	GRVT ENA_USDT_Perp	0.2122	0.0100	pay 0.0050% / 4h	2h 54m	$359K	$4.8M	10x
Short	Binance ENAUSDT	0.2118	0.0100	get 0.0050% / 4h	2h 54m	$131.7M	$443.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GRVT. 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 GRVTbpFee BinancebpOrdersPrice spread, now −0.179%Rate

Funding earned: $0
Price spread: −0.179% → −0.016%: −$16.29
Slippage, 4 orders: −$30.39
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.68
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Binance: live order book, 5 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 GRVT live order book, 5 min ago	2.36 bp	16.6 bp −$17	175.2 bp −$1,752	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.23 bp	9.2 bp −$9	17.9 bp −$179	70.4 bp −$7,036	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
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2114	−0.398%	$90K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2113	−0.434%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.066%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0035%	4h	0.2116	−0.283%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0071%	1h	0.2116	−0.261%	$140K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0081%	1h	0.2119	−0.118%	$366K	$383K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.471%	$52K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.408%	$696K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.177%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	−0.232%	$416K	$548K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDTshort	+0.0100%	4h	0.2118	−0.179%	$131.7M	$443.9M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.212%	$86.9M	$186.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	−0.170%	$21.0M	$108.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.518%	$17K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	−0.330%	$115K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.252%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	−0.193%	$10.7M	$20.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2120	−0.108%	$44.7M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	−0.151%	$24.4M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.236%	$48.0M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2119	−0.151%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	−0.447%	$3.8M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.113%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2122	long leg	$359K	$4.8M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.047%	$33K	$689K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2114	−0.377%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.578%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	−0.094%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2118	−0.207%	$273K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	−0.189%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	−0.362%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.250%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2128	+0.264%	$7K	$351K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0175%	1h	0.2118	−0.193%	$79K	$1.6M	50x	as long as short
Lighter ENA	+0.0240%	1h	0.2120	−0.085%	$5.5M	$13.5M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2113	−0.412%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0252%	1h	0.2120	−0.072%	$2.7M	$5.0M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2119	−0.162%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2111	−0.509%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2114	−0.390%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0510%	1h	0.2122	−0.024%	$114.2M	$74.2M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2115	−0.316%	$831K	$1.7M	50x	as long as short