Funding arb · Price arb /

ENA

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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 −0.020%

Price spread now: GRVT against MEXC−0.171%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on MEXC Short on GRVT

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+0.074%+$7 · spread now −0.171%, 7d avg +0.019%

Together, before fees+0.085%+ Points / potential airdropGRVT: Active · farm board+$9 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: GRVT is 0.190% cheaper against MEXC than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2099	0.0100	pay 0.0050% / 4h	1h 10m	$46.6M	$47.0M	200x
Short	GRVT ENA_USDT_Perp	0.2096	0.0100	get 0.0050% / 4h	1h 10m	$350K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against MEXC. 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 MEXCbpFee GRVTbpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → +0.019%: −$18.95
Slippage, 4 orders: −$21.7
Fee MEXC: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$49.65
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; GRVT: live order book, 3 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 MEXC live order book, 3 min ago	0.24 bp	1.3 bp −$1	5.7 bp −$57	40.5 bp −$4,052	73.1 bp −$36.5K
Sell GRVT live order book, 3 min ago	2.38 bp	17.4 bp −$17	70.1 bp −$701	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	−0.0043%	4h	0.2098	−0.062%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0026%	1h	0.2101	+0.095%	$371K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	−0.024%	$91K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2099	−0.033%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.148%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2100	+0.020%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.062%	$61K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.114%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.124%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2100	+0.052%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2098	−0.079%	$406K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.007%	$129.5M	$454.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.062%	$87.2M	$190.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.005%	$20.3M	$111.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.191%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.014%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.220%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2099	+0.010%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2099	long leg	$46.6M	$47.0M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.024%	$23.9M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.081%	$47.4M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2100	+0.043%	—	$32.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.391%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	−0.176%	$249K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2096	−0.171%	$350K	$4.6M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.157%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	−0.024%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.482%	$1K	$816K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.014%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2100	+0.024%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2098	−0.062%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.031%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2098	−0.067%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2099	−0.010%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0244% / S −0.0421%	1h	0.2098	−0.048%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2098	−0.059%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	−0.033%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.068%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2102	+0.114%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.038%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0587%	1h	0.2103	+0.171%	$111.0M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1980%	1h	0.2096	−0.155%	$138K	$15K	5x	as long as short