Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Bitget against GRVT−0.071%53s7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as 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−$550.554% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.071%, 7d avg −0.077%

Together, before fees+0.104%+ Points / potential airdropGRVT: Active · farm board+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ENA_USDT_Perp	0.2125	0.0100	pay 0.0050% / 4h	34m 43s	$361K	$4.6M	10x
Short	Bitget ENAUSDT	0.2124	0.0100	get 0.0050% / 4h	34m 43s	$48.1M	$64.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.077%: $0.61
Slippage, 4 orders: −$34.41
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$54.8
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Bitget: live order book, 4 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, 4 min ago	4.70 bp	15.8 bp −$16	56.3 bp −$563	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.71 bp	11.1 bp −$11	20.1 bp −$201	40.4 bp −$4,042	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	−0.0018%	4h	0.2122	−0.165%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2123	−0.104%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.062%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.075%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0059%	1h	0.2124	−0.061%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.141%	$63K	$522K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.068%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	−0.005%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	−0.001%	$411K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.025%	$131.4M	$453.6M	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	0.2124	−0.052%	$89.3M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	−0.009%	$20.6M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	−0.014%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.047%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2129	+0.188%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.028%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.005%	$46.9M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.047%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2124	−0.071%	$48.1M	$64.1M	75x
BingX ENA-USDC	+0.0100%	4h	0.2125	0.000%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.033%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.019%	$253K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2125	long leg	$361K	$4.6M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	0.000%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	−0.056%	$179K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.527%	$1K	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	−0.141%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.235%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	−0.141%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.048%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.144%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2128	+0.160%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	−0.042%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2124	−0.063%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	−0.073%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2124	−0.029%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−0.141%	$5.6M	$7.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.097%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0552%	1h	0.2127	+0.089%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.315%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0824%	1h	0.2128	+0.136%	$114.4M	$78.7M	10x	as long as short
dYdX ENA-USD	+0.1719%	1h	0.2124	−0.041%	$140K	$15K	5x	as long as short