Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0653%/8h= +71.5% APRpaid last 24h −0.018%

Price spread now: GMX against Aster−0.105%7-day average — · you buy dearer than you sell

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

Long on Aster Short on GMX

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.105% cheaper against Aster than usual: you would sell low and buy high (spread −0.105% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 13 hours of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2160	0.0100	pay 0.0050% / 4h	1h 55m	$1.5M	$3.3M	50x
Short	GMX ENA/USD [ETH-USDC]	0.2158	L +0.0309% / S −0.0753%	get 0.0094% / 1h	55m 07s	$59K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.105%Rate

Funding earned: $137.18
Price spread: −0.105% → 0.000%: −$10.45
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $106.73
Costs to cover: 0.200%
Break-even: 1.6 days

Slippage unknown: Aster: live order book, 3 min ago; GMX: 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 Aster live order book, 3 min ago	2.98 bp	9.4 bp −$9	17.8 bp −$178	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Orderly PERP_ENA_USDC	−0.0141%	4h	0.2159	−0.054%	$45K	$26K	10x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2164	+0.185%	$143K	$16K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2160	−0.012%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2159	−0.084%	$83K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2160	−0.017%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.711%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2160	−0.017%	$57K	$481K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2161	+0.041%	$572K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2161	+0.011%	$116.9M	$76.3M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2160	long leg	$1.5M	$3.3M	50x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2163	+0.140%	$406K	$532K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2158	−0.107%	$130.6M	$428.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2158	−0.096%	$86.3M	$180.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2159	−0.082%	$21.7M	$109.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2183	+1.057%	$21K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2160	−0.017%	$80K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2172	+0.535%	$95K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2161	+0.011%	$12.4M	$25.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2160	+0.001%	$48.6M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2160	+0.006%	$25.0M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2158	−0.100%	$49.0M	$59.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2160	+0.006%	—	$31.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2170	+0.454%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2172	+0.518%	$256K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2175	+0.677%	$363K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2179	+0.862%	$20K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2161	+0.020%	$190K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2106	−2.512%	$1K	$895K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2159	−0.063%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2164	+0.187%	$271K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2160	−0.017%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2161	+0.008%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2159	−0.063%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2160	−0.040%	$76K	$4K	3x	as long as short
Lighter ENA	+0.0120%	1h	0.2161	+0.034%	$5.2M	$13.3M	10x	as long as short
Phoenix ENA	+0.0153%	1h	0.2170	+0.450%	$8K	$276K	10x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0309% / S −0.0753%	1h	0.2158	−0.105%	$59K	—	100x
BloFin ENA-USDT	+0.0340%	4h	0.2160	−0.026%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2159	−0.049%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0437%	1h	0.2160	−0.016%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2164	+0.173%	$887K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0666%	1h	0.2161	+0.043%	$396K	$424K	5x	as long as short