Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0336%/8h= +36.8% APRpaid last 24h +0.101%

Price spread now: BloFin against gTrade (Gains Network)+0.099%50s7-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 BloFin

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

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and BloFin is 0.099% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	0.2143	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	44m 03s	$82K	—	150x
Short	BloFin ENA-USDT	0.2145	0.0340	get 0.0170% / 4h	1h 44m	$5.7M	$3.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.099%Rate

Funding earned: $70.63
Price spread: +0.099% → 0.000%: $9.94
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $58.57
Costs to cover: 0.220%
Break-even: 1.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 5 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 BloFin live order book, 5 min ago	0.47 bp	9.6 bp −$10	15.3 bp −$153	62.6 bp −$6,262	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
Orderly PERP_ENA_USDC	−0.0133%	4h	0.2142	−0.022%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2144	+0.057%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2143	+0.001%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2143	long leg	$82K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.895%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2143	+0.014%	$142K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2145	+0.118%	$5.1M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2143	+0.020%	$57K	$481K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	−0.031%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2144	+0.071%	$115.6M	$76.6M	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	0.2143	+0.025%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2144	+0.063%	$405K	$540K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2142	−0.031%	$129.2M	$428.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2142	−0.013%	$85.7M	$181.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2142	−0.013%	$21.4M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2143	+0.015%	$20K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2143	+0.020%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2148	+0.266%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2142	−0.022%	$12.4M	$26.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2142	−0.031%	$48.4M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2142	−0.003%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2140	−0.129%	$48.6M	$60.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2142	−0.027%	—	$31.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−0.168%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2141	−0.059%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2141	−0.063%	$358K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2142	−0.027%	$19K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2143	+0.011%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2091	−2.426%	$1K	$899K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2143	+0.020%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.193%	$269K	$824K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2142	−0.027%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2143	+0.018%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2141	−0.086%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2142	−0.007%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2142	−0.017%	$8K	$276K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2142	−0.013%	$59K	—	100x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2145	+0.099%	$5.7M	$3.2M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2142	−0.050%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0440%	1h	0.2144	+0.083%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2149	+0.314%	$887K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0643%	1h	0.2143	+0.034%	$396K	$434K	5x	as long as short