Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0097%/8hnext payment −$0.12 per $10,000 · paid last 24h −0.029%

Price spread now: gTrade (Gains Network) against SoDEX+0.076%7-day average — · you sell dearer than you buy

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

Long on SoDEX 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 pays, funding is against you. gTrade (Gains Network) is 0.076% dearer against SoDEX than usual: you sell high and buy low (spread +0.076% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ENA-USD	0.2118	0.0100	pay 0.0013% / 1h	21m 58s	$4K	$14K	10x
Short	gTrade (Gains Network) ENA/USD	0.2120	L +0.0003% / S −0.0003%	get 0.0000% / 1h	21m 58s	$98K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SoDEX. 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 SoDEXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.076%Rate

Funding earned: −$20.37
Price spread: +0.076% → 0.000%: $7.55
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$30.81
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 79 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 SoDEX no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) virtual book (oracle venue), 79 min ago	130.02 bp	135.0 bp −$135	748.2 bp −$7,482	doesn't fit	doesn't fit

SoDEX: 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	−0.0300%	1h	0.2119	+0.057%	$366K	$498K	5x	as long as short
Kraken Futures PF_ENAUSD	−0.0224%	1h	0.2120	+0.090%	$2.7M	$6.1M	50x	as long as short
Injective ENA/USDC PERP	−0.0223%	1h	0.2123	+0.255%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	−0.0141%	4h	0.2118	0.000%	$42K	$22K	10x	as long as short
01 Exchange ENAUSD	−0.0056%	1h	0.2120	+0.094%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.061%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0003% / S −0.0003%	1h	0.2120	+0.076%	$98K	—	150x
Phemex ENAUSDT	+0.0066%	4h	0.2118	0.000%	$1.9M	$9.5M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2129	+0.534%	$5K	$392K	10x	as long as short
Bitget ENAUSDT	+0.0086%	4h	0.2116	−0.080%	$48.2M	$66.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2119	+0.047%	$59K	$564K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2121	+0.149%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	−0.038%	$652K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2122	+0.165%	$111.8M	$79.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	+0.090%	$1.6M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2121	+0.160%	$407K	$618K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.029%	$130.8M	$476.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.099%	$89.4M	$197.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.052%	$20.4M	$119.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	+0.411%	$20K	$473K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2122	+0.189%	$84K	$216K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	+0.014%	$10.6M	$23.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	−0.042%	$45.1M	$53.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	−0.005%	$23.4M	$16.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2118	−0.009%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.361%	$3.7M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.306%	$253K	$8.2M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2126	+0.380%	$365K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2127	+0.425%	$31K	$717K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	+0.132%	$187K	$3.2M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.271%	$1K	$784K	20x	as long as short
SoDEX ENA-USDlong	+0.0100%	1h	0.2118	long leg	$4K	$14K	10x
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.246%	$274K	$1.7M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.205%	$89K	$1K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	−0.081%	$1.7M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.064%	$78K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0164% / S −0.0221%	1h	0.2119	+0.061%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	+0.264%	$5.7M	$8.4M	75x	as long as short
Lighter ENA	+0.0400%	1h	0.2122	+0.165%	$5.8M	$13.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.022%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2121	+0.127%	$813K	$2.4M	50x	as long as short
dYdX ENA-USD	+0.5862%	1h	0.2123	+0.248%	$140K	$12K	5x	as long as short