Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against SoDEX−0.477%74s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.477% cheaper against SoDEX than usual: you would sell low and buy high, −$48 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 74 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	SoDEX ENA-USD	0.2098	0.0100	pay 0.0013% / 1h	45m 54s	$4K	$7K	10x
Short	GRVT ENA_USDT_Perp	0.2088	0.0100	get 0.0050% / 4h	45m 54s	$346K	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against SoDEX. 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 SoDEXbpFee GRVTbpOrdersPrice spread, now −0.477%Rate

Funding earned: $0
Price spread: −0.477% → 0.000%: −$47.66
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$64.66
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; GRVT: live order book, 3 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 SoDEX no order-book sample	—	—	—	—	—
Sell GRVT live order book, 3 min ago	2.39 bp	12.5 bp −$13	58.7 bp −$587	doesn't fit	doesn't fit

SoDEX: 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
Backpack ENA_USDC_PERP	−0.0300%	1h	0.2097	−0.067%	$366K	$388K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2097	−0.033%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0060%	4h	0.2098	+0.019%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	+0.024%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2097	−0.030%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.211%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	−0.191%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2099	+0.043%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.048%	$55K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.049%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.026%	$658K	$1.6M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2097	−0.062%	$111.6M	$73.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	+0.040%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	−0.024%	$409K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.123%	$127.9M	$416.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	−0.133%	$85.0M	$176.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2096	−0.076%	$20.7M	$102.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.429%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.238%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.429%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	−0.133%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2096	−0.095%	$45.4M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	−0.057%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	−0.195%	$47.8M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2096	−0.110%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.028%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2088	−0.469%	$240K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2088	−0.477%	$346K	$4.9M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2088	−0.477%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.024%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.412%	$1K	$844K	20x	as long as short
SoDEX ENA-USDlong	+0.0100%	1h	0.2098	long leg	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.038%	$271K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.095%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2095	−0.134%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	−0.011%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0167%	1h	0.2096	−0.097%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2099	+0.057%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2097	−0.027%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.229%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.065%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	−0.377%	$851K	$1.5M	50x	as long as short