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 +0.024%

Price spread now: GRVT against 01 Exchange−0.674%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 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 pays, the price is against you. GRVT is 0.674% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.674% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$67 on $10k: about 2 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2142	0.0064	pay 0.0008% / 1h	30m 40s	$4K	$302	10x
Short	GRVT ENA_USDT_Perp	0.2127	0.0100	get 0.0050% / 4h	2h 30m	$353K	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.674%Rate

Funding earned: $7.56
Price spread: −0.674% → 0.000%: −$67.36
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$75.8
Costs to cover: 0.160%
Break-even: 77.2 days

Slippage unknown: 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell GRVT live order book, 3 min ago	4.70 bp	15.5 bp −$16	33.6 bp −$336	doesn't fit	doesn't fit

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	0.2141	−0.037%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	−0.115%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0017%	1h	0.2145	+0.151%	$142K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.864%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0041%	4h	0.2140	−0.070%	$44K	$28K	10x	as long as short
01 Exchange ENAUSDlong	+0.0064%	1h	0.2142	long leg	$4K	$302	10x
Popdex ENAUSDT	+0.0096%	1h	0.2142	+0.005%	$56K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	+0.016%	$697K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2145	+0.130%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2147	+0.236%	$420K	$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	0.2145	+0.151%	$133.0M	$444.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2148	+0.285%	$88.1M	$186.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2148	+0.294%	$21.1M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−0.654%	$19K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2150	+0.378%	$117K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.710%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2141	−0.023%	$11.1M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2148	+0.280%	$45.8M	$44.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2150	+0.392%	$24.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2147	+0.238%	$48.8M	$61.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2148	+0.266%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2143	+0.047%	$371K	$376K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	−0.102%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−1.244%	$242K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perpshort	+0.0100%	4h	0.2127	−0.674%	$353K	$4.8M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−0.836%	$32K	$667K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2142	+0.023%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2090	−2.418%	$866	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2141	−0.042%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2143	+0.047%	$277K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2141	−0.042%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2145	+0.124%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2142	−0.010%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2138	−0.173%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2141	−0.035%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2142	−0.005%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2140	−0.092%	$51K	—	100x	as long as short
Lighter ENA	+0.0392%	1h	0.2146	+0.173%	$5.6M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	−0.076%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0525%	1h	0.2146	+0.191%	$115.9M	$73.0M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2111	−1.452%	$827K	$1.7M	50x	as long as short