Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Gate against Bitget−0.207%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 7 days+0.254%+$25 · spread now −0.207%, 7d avg +0.048%

Together, before fees+0.244%+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.255% cheaper against Bitget than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2177	0.0100	pay 0.0050% / 4h	2h 16m	$49.5M	$58.3M	75x
Short	Gate ENA_USDT	0.2172	0.0100	get 0.0050% / 4h	2h 16m	$11.5M	$24.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.207%Rate

Funding earned: $0
Price spread: −0.207% → +0.048%: −$25.49
Slippage, 4 orders: −$34.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$87.06
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Gate: live order book, 2 min ago.

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, 3 min ago	1.38 bp	12.3 bp −$12	17.9 bp −$179	53.2 bp −$5,316	doesn't fit
Sell Gate live order book, 2 min ago	4.62 bp	21.4 bp −$21	31.0 bp −$310	53.8 bp −$5,382	91.8 bp −$45.9K

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	−0.0138%	4h	0.2173	−0.147%	$45K	$26K	10x	as long as short
Phemex ENAUSDT	−0.0016%	4h	0.2173	−0.161%	$1.8M	$8.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2174	−0.093%	$84K	—	150x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0026%	1h	0.2175	−0.078%	$70K	$1.1M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.440%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2173	−0.175%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2174	−0.115%	$53K	$475K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2176	−0.002%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2179	+0.129%	$118.1M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2175	−0.070%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2172	−0.198%	$408K	$528K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2174	−0.097%	$132.0M	$422.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2177	+0.037%	$87.8M	$177.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2178	+0.069%	$21.7M	$108.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2149	−1.259%	$21K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2173	−0.161%	$81K	$280K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2172	−0.207%	$11.5M	$24.3M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2178	+0.064%	$47.8M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2176	−0.037%	$25.4M	$15.7M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2177	long leg	$49.5M	$58.3M	75x
BingX ENA-USDC	+0.0100%	4h	0.2171	−0.239%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−1.701%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2142	−1.584%	$246K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2163	−0.601%	$362K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2164	−0.574%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2178	+0.051%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2121	−2.564%	$997	$881K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2173	−0.161%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2185	+0.391%	$274K	$800K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−2.068%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2172	−0.226%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2171	−0.270%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2173	−0.138%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	−0.106%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2174	−0.129%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0249%	1h	0.2171	−0.247%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0264%	1h	0.2175	−0.087%	$5.4M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2172	−0.198%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	−0.221%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2177	+0.028%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0659%	1h	0.2174	−0.101%	$366K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2170	−0.276%	$891K	$1.8M	50x	as long as short