Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0097%/8hpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against OKX+0.005%7-day average — · you sell dearer than you buy

to open and close $10k−$341fees + slippage, both legs, in and out

costs, in % of the position3.410%what the two incomes have to cover

Long on OKX Short on gTrade (Gains Network)

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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2104	0.0100	pay 0.0050% / 4h	53m 11s	$20.3M	$121.6M	50x
Short	gTrade (Gains Network) ENA/USD	0.2104	L +0.0003% / S −0.0003%	get 0.0000% / 1h	53m 11s	$87K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.005%Rate

Funding earned: −$20.36
Price spread: +0.005% → 0.000%: $0.52
Slippage, 4 orders: −$321.01
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$360.85
Costs to cover: 3.410%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 47 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 OKX live order book, 2 min ago	0.24 bp	8.5 bp −$9	18.7 bp −$187	72.9 bp −$7,287	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 47 min ago	130.02 bp	135.0 bp −$135	748.2 bp −$7,482	doesn't fit	doesn't fit

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
Backpack ENA_USDC_PERP	−0.0561%	1h	0.2103	−0.038%	$363K	$502K	5x	as long as short
Kraken Futures PF_ENAUSD	−0.0225%	1h	0.2103	−0.025%	$2.6M	$6.5M	50x	as long as short
Injective ENA/USDC PERP	−0.0223%	1h	0.2123	+0.932%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	−0.0156%	4h	0.2102	−0.062%	$42K	$22K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2102	−0.090%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	−0.038%	$93K	$2.0M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0003%	1h	0.2104	+0.005%	$87K	—	150x
Bitget ENAUSDT	+0.0062%	4h	0.2101	−0.138%	$47.8M	$67.0M	75x	as long as short
Phoenix ENA	+0.0076%	1h	0.2114	+0.485%	$5K	$389K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	−0.086%	$57K	$572K	50x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	−0.103%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2104	−0.006%	$645K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2105	+0.048%	$109.2M	$82.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2103	−0.048%	$1.6M	$3.1M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2101	−0.133%	$403K	$643K	10x	as long as short
Binance ENAUSDC	+0.0100%	4h	0.2101	−0.119%	—	$39.5M	50x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2102	−0.095%	$88.6M	$201.8M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2104	long leg	$20.3M	$121.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.162%	$20K	$468K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2103	−0.038%	$84K	$219K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+0.427%	$89K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2102	−0.062%	$10.5M	$23.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	−0.100%	$44.8M	$52.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2102	−0.067%	$23.2M	$17.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2103	−0.043%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2094	−0.476%	$3.6M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.232%	$253K	$8.3M	20x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	+0.105%	$21K	$707K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2102	−0.081%	$182K	$3.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.505%	$1K	$781K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	−0.086%	$4K	$15K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2104	+0.033%	$272K	$1.8M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.086%	$1.8M	$9.5M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.123%	$1.7M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2102	−0.069%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0144% / S −0.0173%	1h	0.2103	−0.055%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2101	−0.133%	$5.7M	$8.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2101	−0.128%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0480%	1h	0.2106	+0.090%	$5.9M	$13.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	−0.019%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+1.1543%	1h	0.2103	−0.037%	$139K	$12K	5x	as long as short