Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.038%

Price spread now: Gate against 01 Exchange−0.009%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Gate

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2138	0.0064	pay 0.0008% / 1h	32m 25s	$4K	$302	10x
Short	Gate ENA_USDT	0.2138	0.0100	get 0.0050% / 4h	2h 32m	$11.1M	$21.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against 01 Exchange. 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 01 ExchangebpFee GatebpOrdersPrice spread, now −0.009%Rate

Funding earned: $7.56
Price spread: −0.009% → 0.000%: −$0.94
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$15.38
Costs to cover: 0.220%
Break-even: 21.2 days

Slippage unknown: 01 Exchange: no order-book sample; Gate: live order book, 1 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	5.88 bp	17.9 bp −$18	29.9 bp −$299	59.8 bp −$5,980	101.9 bp −$50.9K

01 Exchange: 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 41 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	0.2138	+0.009%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2138	−0.007%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0019%	1h	0.2131	−0.316%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.678%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0041%	4h	0.2138	−0.014%	$44K	$28K	10x	as long as short
01 Exchange ENAUSDlong	+0.0064%	1h	0.2138	long leg	$4K	$302	10x
Popdex ENAUSDT	+0.0096%	1h	0.2137	−0.042%	$57K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2138	+0.009%	$696K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2137	−0.047%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2137	−0.047%	$418K	$548K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2138	+0.005%	$132.5M	$445.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2138	−0.005%	$87.7M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2138	−0.005%	$21.1M	$109.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−0.468%	$19K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2138	+0.005%	$116K	$255K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.526%	$92K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2138	−0.009%	$11.1M	$21.3M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2138	0.000%	$45.6M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2138	+0.014%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2137	−0.023%	$48.6M	$61.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2137	−0.033%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2127	−0.505%	$368K	$378K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−1.140%	$3.7M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−1.059%	$242K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	−0.848%	$357K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−0.650%	$32K	$667K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2138	+0.005%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2087	−2.404%	$1K	$851K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2137	−0.042%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	−0.416%	$275K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2126	−0.557%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2137	−0.042%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2138	−0.011%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2107	−1.445%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2137	−0.039%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2139	+0.061%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2138	−0.012%	$51K	—	100x	as long as short
Lighter ENA	+0.0368%	1h	0.2140	+0.098%	$5.6M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2137	−0.020%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0526%	1h	0.2141	+0.150%	$115.5M	$72.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2111	−1.268%	$827K	$1.7M	50x	as long as short