Funding arb · Price arb /

ENA

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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: MEXC against gTrade (Gains Network)+0.083%7-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 MEXC

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 +$3 a day on $10k at the current rate, and MEXC is 0.083% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2104	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	44m 39s	$82K	—	150x
Short	MEXC ENA_USDT	0.2106	0.0100	get 0.0050% / 4h	3h 44m	$45.8M	$40.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.083%Rate

Funding earned: $20.23
Price spread: +0.083% → 0.000%: $8.32
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $18.55
Costs to cover: 0.100%
Break-even: 0.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.24 bp	1.7 bp −$2	10.8 bp −$108	38.1 bp −$3,805	62.7 bp −$31.4K

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	−0.0223%	1h	0.2105	+0.069%	$361K	$402K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0086%	4h	0.2104	+0.012%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2106	+0.083%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2104	long leg	$82K	—	150x
Gate ENA_USDT	+0.0030%	4h	0.2105	+0.078%	$11.1M	$22.3M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.929%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2107	+0.159%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	+0.102%	$56K	$462K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	+0.122%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2102	−0.081%	$656K	$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	0.2106	+0.084%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2106	+0.101%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2106	+0.111%	$128.1M	$414.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2106	+0.088%	$85.2M	$174.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	+0.131%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	−0.069%	$20K	$334K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	+0.150%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.546%	$93K	$4K	10x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2106	+0.083%	$45.8M	$40.9M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	+0.112%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2105	+0.059%	$47.9M	$57.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2106	+0.088%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2101	−0.141%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	−0.031%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	+0.156%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	+0.007%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2104	+0.012%	$201K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2052	−2.450%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2105	+0.055%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.368%	$273K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	+0.055%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2106	+0.096%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2107	+0.131%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2104	+0.002%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2106	+0.119%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0192%	1h	0.2108	+0.178%	$5.2M	$13.2M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2104	−0.009%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2104	+0.012%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0409%	1h	0.2106	+0.093%	$114.8M	$74.1M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2102	−0.095%	$1K	$5K	15x	as long as short
dYdX ENA-USD	+0.0639%	1h	0.2106	+0.107%	$139K	$15K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2112	+0.364%	$863K	$1.7M	50x	as long as short