Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: Gate against Popdex+0.066%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$540.541% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.066%, 7d avg −0.013%

Together, before fees−0.019%−$2 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 0.079% dearer against Popdex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ENAUSDT	0.2121	0.0096	pay 0.0012% / 1h	15m 34s	$55K	$498K	50x
Short	Gate ENA_USDT	0.2122	0.0100	get 0.0050% / 4h	1h 15m	$11.1M	$21.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Popdex. 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 PopdexbpFee GatebpOrdersPrice spread, now +0.066%Rate

Funding earned: $0.84
Price spread: +0.066% → −0.013%: $7.92
Slippage, 4 orders: −$32.7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$45.33
Costs to cover: 0.541%
Break-even: 384.8 days

Slippage from Popdex: live order book, 48 min ago; Gate: 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 Popdex live order book, 48 min ago	2.35 bp	12.1 bp −$12	64.8 bp −$648	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	4.93 bp	16.3 bp −$16	36.0 bp −$360	61.1 bp −$6,113	98.7 bp −$49.4K

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	−0.0026%	4h	0.2124	+0.123%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.179%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2125	+0.205%	$83K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2122	+0.052%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.113%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTlong	+0.0096%	1h	0.2121	long leg	$55K	$498K	50x
Nado ENA-PERP	+0.0100%	1h	0.2121	+0.017%	$666K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2123	+0.085%	$114.3M	$71.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	+0.107%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2122	+0.029%	$414K	$506K	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	0.2122	+0.057%	$130.0M	$418.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	+0.019%	$86.8M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.071%	$20.9M	$102.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	+0.170%	$19K	$359K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2122	+0.047%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.678%	$92K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2122	+0.066%	$11.1M	$21.5M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2122	+0.024%	$45.9M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.057%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.090%	$48.3M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2122	+0.052%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2125	+0.193%	$376K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	+0.124%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.207%	$245K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	+0.208%	$358K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.236%	$22K	$652K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	+0.066%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2075	−2.183%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	+0.189%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.372%	$278K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+0.189%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	+0.061%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2121	+0.014%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	+0.182%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2129	+0.377%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2126	+0.231%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0257%	1h	0.2123	+0.074%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2126	+0.229%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.207%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0352%	1h	0.2122	+0.071%	$5.3M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.041%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2122	+0.033%	$836K	$1.5M	50x	as long as short