Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Gate against ApeX Omni+0.491%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$790.785% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 3 days (all we have)−0.399%−$40 · spread now +0.491%, 7d avg −0.068%

Together, before fees−0.450%−$45 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 0.559% dearer against ApeX Omni than usual: you sell high and buy low, +$56 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2118	0.0100	pay 0.0013% / 1h	27m 00s	$32K	$709K	50x
Short	Gate ENA_USDT	0.2128	0.0100	get 0.0050% / 4h	27m 00s	$10.9M	$21.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against ApeX Omni. 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 ApeX OmnibpFee GatebpOrdersPrice spread, now +0.491%Rate

Funding earned: $0
Price spread: +0.491% → −0.068%: $55.93
Slippage, 4 orders: −$53.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$22.57
Costs to cover: 0.785%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 52 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 ApeX Omni live order book, 52 min ago	9.55 bp	20.1 bp −$20	134.2 bp −$1,342	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	4.94 bp	18.2 bp −$18	39.2 bp −$392	56.0 bp −$5,595	94.0 bp −$47.0K

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	−0.0011%	4h	0.2127	+0.434%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	+0.467%	$93K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2128	+0.454%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.255%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0048%	1h	0.2130	+0.548%	$376K	$447K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.331%	$61K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.387%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+0.496%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.331%	$411K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2128	+0.466%	$131.5M	$452.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2127	+0.449%	$89.4M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.472%	$20.6M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.217%	$15K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.331%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.071%	$89K	$500	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2128	+0.491%	$10.9M	$21.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2128	+0.491%	$46.7M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+0.510%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	+0.397%	$48.2M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2128	+0.472%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.052%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.093%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	+0.093%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2118	long leg	$32K	$709K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.458%	$179K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−1.992%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	+0.425%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.519%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2128	+0.472%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+0.325%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	+0.461%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	0.000%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2126	+0.397%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0216%	1h	0.2126	+0.400%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2128	+0.488%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2127	+0.434%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.439%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.410%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0544%	1h	0.2131	+0.600%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2131	+0.595%	$841K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0779%	1h	0.2132	+0.675%	$114.8M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1734%	1h	0.2126	+0.366%	$140K	$15K	5x	as long as short