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% APRpaid last 24h +0.020%

Price spread now: Polymarket Perps against GRVT+0.246%63s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as 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−$370.368% of the position

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.219%−$22 on $10k

Price spread, last 7 days−0.072%−$7 · spread now +0.246%, 7d avg +0.004%

Together, before fees−0.290%+ Points / potential airdropGRVT: Active · farm board−$29 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: Polymarket Perps is 0.242% dearer against GRVT than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 63 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	0.2120	0.0100	pay 0.0050% / 4h	28m 23s	$361K	$4.6M	10x
Short	Polymarket Perps ENA-USD	0.2125	0.0100	get 0.0013% / 1h	28m 23s	$179K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.246%Rate

Funding earned: $0
Price spread: +0.246% → +0.004%: $24.2
Slippage, 4 orders: −$19.83
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$12.63
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from GRVT: live order book, 6 min ago; Polymarket Perps: 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, 6 min ago	2.36 bp	10.7 bp −$11	49.2 bp −$492	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.59 bp	6.8 bp −$7	8.4 bp −$84	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	−0.0012%	4h	0.2129	+0.402%	$41K	$24K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2125	+0.251%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0027%	1h	0.2122	+0.105%	$375K	$445K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0033%	1h	0.2120	+0.001%	$92K	$1.7M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.161%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.237%	$63K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	+0.159%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.228%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.221%	$411K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2125	+0.243%	$131.5M	$452.8M	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	0.2128	+0.383%	$89.4M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2129	+0.435%	$20.6M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2116	−0.202%	$15K	$398K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.237%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.164%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	+0.204%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.237%	$46.7M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.279%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	+0.176%	$48.1M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	+0.232%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.041%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.125%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2120	long leg	$361K	$4.6M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.190%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2125	+0.246%	$179K	$2.5M	10x
SunX ENA-USDT	+0.0100%	4h	0.2066	−2.527%	$1K	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	+0.001%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	−0.041%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	+0.001%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	+0.200%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	−0.040%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.093%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2127	+0.312%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2125	+0.225%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2121	+0.068%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.237%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2118	−0.108%	$5.6M	$6.5M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	+0.180%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0544%	1h	0.2128	+0.359%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.553%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0780%	1h	0.2128	+0.392%	$114.3M	$78.8M	10x	as long as short
dYdX ENA-USD	+0.1727%	1h	0.2125	+0.247%	$140K	$15K	5x	as long as short