Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.016%

Price spread now: Gate against Extended+0.017%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.017%, 7d avg +0.020%

Together, before fees−0.080%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2127	0.0168	pay 0.0021% / 1h	2m 41s	$1.6M	$4.1M	50x
Short	Gate ENA_USDT	0.2128	0.0100	get 0.0050% / 4h	2h 02m	$11.1M	$22.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$14.28
Price spread: +0.017% → +0.020%: −$0.27
Slippage, 4 orders: −$25.51
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.06
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Gate: live order book, 1 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 Extended live order book, 6 min ago	1.19 bp	6.2 bp −$6	12.3 bp −$123	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.88 bp	16.6 bp −$17	32.0 bp −$320	61.7 bp −$6,170	102.6 bp −$51.3K

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	0.2125	−0.091%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	−0.133%	$87K	—	150x	as long as short
dYdX ENA-USD	+0.0011%	1h	0.2127	−0.033%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.185%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2124	−0.147%	$44K	$27K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.156%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.180%	$682K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.032%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	+0.006%	$416K	$530K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2128	+0.018%	$130.9M	$432.6M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2128	+0.022%	$87.1M	$180.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.017%	$20.9M	$105.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2116	−0.537%	$19K	$382K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	+0.032%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.838%	$93K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2128	+0.017%	$11.1M	$22.0M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.008%	$45.2M	$44.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+0.088%	$24.7M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	−0.048%	$48.4M	$59.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2128	+0.013%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2128	+0.017%	$383K	$370K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.618%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−1.006%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	−0.720%	$359K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−1.003%	$32K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	−0.114%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2075	−2.455%	$984	$846K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.109%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2127	−0.015%	$277K	$804K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	−0.109%	$1.9M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.023%	$48K	$110	10x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2125	−0.114%	$4K	$302	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2126	−0.080%	$74K	$4K	3x	as long as short
Extended ENA-USDlong	+0.0168%	1h	0.2127	long leg	$1.6M	$4.1M	50x
Phoenix ENA	+0.0188%	1h	0.2116	−0.514%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0251%	1h	0.2127	−0.007%	$2.7M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2124	−0.153%	$50K	—	100x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.156%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0440%	1h	0.2131	+0.154%	$5.5M	$13.8M	10x	as long as short
Hyperliquid ENA	+0.0469%	1h	0.2129	+0.093%	$114.5M	$71.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2128	+0.046%	$835K	$1.6M	50x	as long as short