Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.012%

Price spread now: Gate against 01 Exchange−0.174%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Gate is 0.174% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.174% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 32 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2129	0	get 0.0000% / 1h	35m 05s	$4K	$277	10x
Short	Gate ENA_USDT	0.2125	0.0018	get 0.0009% / 4h	2h 35m	$11.2M	$23.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against 01 Exchange. 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 01 ExchangebpFee GatebpOrdersPrice spread, now −0.174%Rate

Funding earned: $3.78
Price spread: −0.174% → 0.000%: −$17.38
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$35.6
Costs to cover: 0.220%
Break-even: 72.9 days

Slippage unknown: 01 Exchange: no order-book sample; Gate: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	3.79 bp	16.5 bp −$16	38.9 bp −$389	61.5 bp −$6,151	98.4 bp −$49.2K

01 Exchange: 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	−0.0143%	4h	0.2127	−0.089%	$44K	$25K	10x	as long as short
01 Exchange ENAUSDlong	0.0000%	1h	0.2129	long leg	$4K	$277	10x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	−0.056%	$74K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2127	−0.061%	$82K	—	150x	as long as short
Gate ENA_USDTshort	+0.0018%	4h	0.2125	−0.174%	$11.2M	$23.6M	50x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.244%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2128	−0.028%	$57K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	−0.101%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2128	−0.033%	$659K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2125	−0.183%	$115.4M	$74.3M	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	0.2124	−0.207%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2127	−0.078%	$399K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2123	−0.287%	$128.7M	$417.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.376%	$85.7M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	−0.366%	$21.3M	$104.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−1.151%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	−0.075%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	−0.780%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.150%	$46.9M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	−0.028%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.296%	$48.2M	$58.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2124	−0.226%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	−0.328%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.575%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	−0.498%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.498%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	−0.009%	$190K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.462%	$1K	$869K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	−0.075%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.066%	$269K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2126	−0.122%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2127	−0.083%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.090%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2121	−0.366%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2128	−0.034%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2128	−0.023%	$5.3M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2127	−0.069%	$71K	—	100x	as long as short
dYdX ENA-USD	+0.0329%	1h	0.2126	−0.144%	$140K	$15K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.033%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	−0.037%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0605%	1h	0.2125	−0.146%	$360K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2131	+0.103%	$872K	$1.7M	50x	as long as short