Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Gate against OKX−0.038%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$620.617% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.038%, 7d avg +0.002%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.040% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2101	0.0100	pay 0.0050% / 4h	3h 26m	$20.9M	$103.2M	50x
Short	Gate ENA_USDT	0.2100	0.0100	get 0.0050% / 4h	3h 26m	$11.2M	$22.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.002%: −$3.96
Slippage, 4 orders: −$36.7
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$65.66
Costs to cover: 0.617%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Gate: live order book, 2 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, 3 min ago	0.24 bp	11.6 bp −$12	18.9 bp −$189	92.4 bp −$9,238	doesn't fit
Sell Gate live order book, 2 min ago	4.98 bp	18.5 bp −$18	35.6 bp −$356	60.8 bp −$6,077	98.7 bp −$49.4K

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	−0.0115%	1h	0.2102	+0.052%	$358K	$402K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0108%	4h	0.2100	−0.071%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	−0.029%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2101	−0.023%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.061%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2099	−0.100%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2100	−0.052%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.105%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2099	−0.107%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2102	+0.034%	$1.4M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2100	−0.059%	$400K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	−0.047%	$127.3M	$413.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.067%	$84.9M	$174.4M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2101	long leg	$20.9M	$103.2M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2109	+0.352%	$22K	$334K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	−0.052%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.148%	$92K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2100	−0.038%	$11.2M	$22.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2100	−0.029%	$45.5M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	−0.019%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2100	−0.043%	$47.7M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2101	−0.010%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	+0.394%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2107	+0.261%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	+0.273%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2109	+0.376%	$20K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.010%	$191K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.484%	$1K	$853K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.052%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.200%	$272K	$790K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2101	−0.005%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2100	−0.067%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	−0.072%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2111	+0.462%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2102	+0.022%	$2.6M	$4.3M	50x	as long as short
Hyperliquid ENA	+0.0206%	1h	0.2102	+0.019%	$114.2M	$74.1M	10x	as long as short
Lighter ENA	+0.0208%	1h	0.2102	+0.062%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2101	−0.023%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	+0.100%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2100	−0.069%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2114	+0.638%	$865K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1067%	1h	0.2101	−0.014%	$139K	$15K	5x	as long as short