Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.021%

Price spread now: Gate against Injective+1.625%114s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 1.625% dearer against Injective than usual: you sell high and buy low: +$162 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.193%, so the current rate has only just turned in your favour. The two prices were read 114 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	Injective ENA/USDC PERP	0.2123	0.0033	pay 0.0004% / 1h	19m 24s	$522	$57K	5.5x
Short	Gate ENA_USDT	0.2158	0.0100	get 0.0050% / 4h	3h 19m	$11.0M	$21.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +1.625%Rate

Funding earned: $14
Price spread: +1.625% → 0.000%: $162.48
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $161.46
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 4 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	4.20 bp	15.6 bp −$16	38.8 bp −$388	56.5 bp −$5,654	91.6 bp −$45.8K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2159	+1.686%	$81K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2157	+1.582%	$106K	—	150x	as long as short
Injective ENA/USDC PERPlong	+0.0033%	1h	0.2123	long leg	$522	$57K	5.5x
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2155	+1.507%	$42K	$23K	10x	as long as short
dYdX ENA-USD	+0.0036%	1h	0.2151	+1.283%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2156	+1.535%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2155	+1.505%	$714K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2155	+1.479%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2150	+1.275%	$423K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2158	+1.611%	$134.0M	$443.1M	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	0.2156	+1.526%	$89.0M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2155	+1.502%	$21.2M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2145	+1.031%	$16K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2154	+1.441%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	+0.923%	$90K	−$0	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2158	+1.625%	$11.0M	$21.3M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2158	+1.639%	$46.1M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2157	+1.587%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2156	+1.531%	$48.9M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2157	+1.564%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2158	+1.639%	$384K	$410K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	+0.994%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	+0.989%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	+1.002%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	+1.064%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2158	+1.634%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2108	−0.735%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2158	+1.629%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2160	+1.728%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2158	+1.629%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2152	+1.337%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2159	+1.661%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2147	+1.130%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2156	+1.516%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2160	+1.727%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0320%	1h	0.2153	+1.414%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	+1.649%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2146	+1.060%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2157	+1.586%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2150	+1.248%	$852K	$1.8M	50x	as long as short
Lighter ENA	+0.0696%	1h	0.2155	+1.479%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0770%	1h	0.2161	+1.780%	$117.2M	$74.4M	10x	as long as short