Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: Binance against gTrade (Gains Network)+0.011%52s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Binance

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2103	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	46m 31s	$82K	—	150x
Short	Binance ENAUSDT	0.2104	0.0100	get 0.0050% / 4h	3h 46m	$127.9M	$414.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BinancebpOrdersPrice spread, now +0.011%Rate

Funding earned: $20.23
Price spread: +0.011% → 0.000%: $1.09
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $1.33
Costs to cover: 0.200%
Break-even: 6.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Binance: live order book, 12 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.24 bp	7.7 bp −$8	13.4 bp −$134	53.0 bp −$5,299	doesn't fit

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
Backpack ENA_USDC_PERP	−0.0247%	1h	0.2104	+0.006%	$361K	$402K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2103	−0.037%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2104	+0.001%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2103	long leg	$82K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.947%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0062%	4h	0.2102	−0.060%	$11.1M	$22.2M	50x	as long as short
01 Exchange ENAUSD	+0.0088%	1h	0.2104	+0.006%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	−0.070%	$56K	$462K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	−0.073%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2102	−0.048%	$655K	$1.7M	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	0.2104	+0.021%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2103	−0.012%	$400K	$513K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2104	+0.011%	$127.9M	$414.5M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.018%	$84.9M	$174.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	+0.039%	$20.9M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	+0.154%	$20K	$329K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2104	+0.025%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.565%	$93K	$4K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	−0.046%	$45.7M	$40.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	+0.030%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2101	−0.117%	$47.8M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2102	−0.046%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	+0.329%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2107	+0.171%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	+0.174%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2107	+0.168%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2105	+0.063%	$177K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2053	−2.380%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.022%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.125%	$272K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2103	−0.022%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.096%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	+0.002%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2113	+0.458%	$8K	$274K	10x	as long as short
Lighter ENA	+0.0144%	1h	0.2105	+0.054%	$5.2M	$13.2M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2104	+0.035%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2103	−0.020%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	−0.075%	$5.5M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0396%	1h	0.2106	+0.139%	$114.8M	$74.0M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2103	−0.017%	$1K	$5K	15x	as long as short
dYdX ENA-USD	+0.0481%	1h	0.2103	−0.012%	$139K	$15K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2112	+0.382%	$863K	$1.7M	50x	as long as short