Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h −0.018%

Price spread now: gTrade (Gains Network) against Bitget+0.187%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 0.187% dearer against Bitget than usual: you sell high and buy low (spread +0.187% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2102	0.0100	pay 0.0050% / 4h	2h 27m	$47.7M	$57.9M	75x
Short	gTrade (Gains Network) ENA/USD	0.2106	L +0.0004% / S −0.0004%	get 0.0000% / 1h	27m 03s	$82K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bitget. 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 BitgetbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.187%Rate

Funding earned: −$20.25
Price spread: +0.187% → 0.000%: $18.7
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$23.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.95 bp	12.6 bp −$13	20.8 bp −$208	54.4 bp −$5,444	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
Orderly PERP_ENA_USDC	−0.0143%	4h	0.2106	+0.190%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2106	+0.205%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0004% / S −0.0004%	1h	0.2106	+0.187%	$82K	—	150x
Gate ENA_USDT	+0.0018%	4h	0.2104	+0.090%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2107	+0.228%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.013%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	+0.138%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	+0.128%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2107	+0.243%	$653K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2106	+0.167%	$114.2M	$74.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2105	+0.133%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2106	+0.195%	$395K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2105	+0.120%	$127.6M	$418.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	+0.100%	$85.1M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2105	+0.128%	$21.1M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.699%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+0.186%	$78K	$276K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	+0.090%	$46.1M	$41.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	+0.176%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2102	long leg	$47.7M	$57.9M	75x
BingX ENA-USDT	+0.0100%	4h	0.2104	+0.086%	—	$31.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	+0.424%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.725%	$243K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.716%	$351K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.756%	$19K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2107	+0.224%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.179%	$1K	$871K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2106	+0.186%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.428%	$266K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	+0.138%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.756%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2106	+0.169%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2106	+0.178%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2115	+0.623%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2107	+0.250%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2107	+0.243%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0290%	1h	0.2108	+0.267%	$139K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2105	+0.149%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	+0.190%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2107	+0.215%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0575%	1h	0.2105	+0.138%	$356K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2123	+0.999%	$869K	$1.7M	50x	as long as short