Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against SunX+2.331%7-day average — · you sell dearer than you buy

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

Long on SunX Short on gTrade (Gains Network)

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—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 2.331% dearer against SunX than usual: you sell high and buy low (spread +2.331% now, against zero (this spread has no 7-day history yet)): +$233 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2039	0.0100	pay 0.0050% / 4h	49m 11s	$1K	$841K	20x
Short	gTrade (Gains Network) ENA/USD	0.2087	L +0.0004% / S −0.0004%	get 0.0000% / 1h	49m 11s	$81K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SunX. 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 SunXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +2.331%Rate

Funding earned: −$20.25
Price spread: +2.331% → 0.000%: $233.07
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $194.82
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 43 min ago; gTrade (Gains Network): no order-book sample. 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 SunX live order book, 43 min ago	258.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0305%	1h	0.2090	+2.486%	$365K	$388K	5x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2087	+2.315%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0059%	4h	0.2087	+2.334%	$43K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2088	+2.368%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0004% / S −0.0004%	1h	0.2087	+2.331%	$81K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+4.124%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+2.682%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2091	+2.555%	$5.2M	$13.3M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	+2.535%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2088	+2.364%	$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	0.2087	+2.338%	$654K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2091	+2.530%	$111.5M	$72.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2088	+2.388%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2089	+2.415%	$407K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2089	+2.457%	$127.7M	$415.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	+2.462%	$84.9M	$175.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2090	+2.486%	$20.6M	$101.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2087	+2.339%	$19K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2088	+2.388%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+3.320%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2090	+2.467%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2089	+2.457%	$45.0M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+2.432%	$24.4M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2088	+2.383%	$47.6M	$57.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2090	+2.471%	—	$32.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+2.819%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	+3.206%	$242K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	+3.193%	$353K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	+2.927%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	+2.373%	$177K	$2.3M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2039	long leg	$1K	$841K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2089	+2.437%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2090	+2.481%	$270K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	+2.437%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2087	+2.336%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2087	+2.354%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0162%	1h	0.2088	+2.395%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2090	+2.491%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0252% / S −0.0213%	1h	0.2087	+2.346%	$50K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2088	+2.368%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2087	+2.337%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	+2.491%	$851K	$1.5M	50x	as long as short