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 +0.014%

Price spread now: Gate against GRVT+0.650%96s7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as 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−$620.619% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 7 days−0.543%−$54 · spread now +0.650%, 7d avg −0.024%

Together, before fees−0.568%+ Points / potential airdropGRVT: Active · farm board−$57 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: Gate is 0.674% dearer against GRVT than usual: you sell high and buy low, +$67 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 96 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	0.2107	0.0100	pay 0.0050% / 4h	59m 45s	$349K	$4.6M	10x
Short	Gate ENA_USDT	0.2121	0.0100	get 0.0050% / 4h	59m 45s	$10.8M	$21.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.650%Rate

Funding earned: $0
Price spread: +0.650% → −0.024%: $67.44
Slippage, 4 orders: −$37.89
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $5.55
Costs to cover: 0.619%
Break-even: from the start

Slippage from GRVT: live order book, 4 min ago; Gate: 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	2.37 bp	12.9 bp −$13	36.8 bp −$368	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	4.97 bp	16.2 bp −$16	32.7 bp −$327	58.3 bp −$5,831	95.6 bp −$47.8K

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	−0.0036%	4h	0.2120	+0.626%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	+0.669%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2121	+0.660%	$105K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0012%	1h	0.2122	+0.693%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.778%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0065%	1h	0.2122	+0.730%	$2.7M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	+0.617%	$63K	$530K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2122	+0.733%	$666K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	+0.642%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2120	+0.598%	$410K	$575K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2120	+0.618%	$131.1M	$455.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	+0.513%	$89.0M	$191.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.612%	$20.5M	$112.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.494%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	+0.664%	$83K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.693%	$89K	$500	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2121	+0.650%	$10.8M	$21.6M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2120	+0.636%	$46.7M	$47.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.712%	$24.2M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	+0.579%	$48.0M	$64.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2120	+0.636%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	+0.387%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	+0.230%	$251K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2107	long leg	$349K	$4.6M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.190%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	+0.712%	$178K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2069	−1.822%	$1K	$819K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	+0.664%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.769%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.570%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	+0.587%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	+0.650%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2109	+0.119%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0152%	1h	0.2121	+0.669%	$4K	$312	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2121	+0.644%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.470%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2120	+0.633%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	+0.636%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0452%	1h	0.2124	+0.791%	$112.3M	$78.6M	10x	as long as short
Lighter ENA	+0.0560%	1h	0.2121	+0.674%	$5.7M	$12.8M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2124	+0.831%	$839K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.1985%	1h	0.2120	+0.619%	$140K	$15K	5x	as long as short