Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h −0.047%

Price spread now: gTrade (Gains Network) against Aster−0.024%7-day average — · you buy dearer than you sell

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

Long on Aster Short on gTrade (Gains Network)

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.024% cheaper against Aster than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2130	0.0100	pay 0.0050% / 4h	3h 34m	$1.4M	$3.3M	50x
Short	gTrade (Gains Network) ENA/USD	0.2129	L +0.0004% / S −0.0004%	get 0.0000% / 1h	34m 42s	$82K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Aster. 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 AsterbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.024%Rate

Funding earned: −$20.24
Price spread: −0.024% → 0.000%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$40.61
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 Aster live order book, 4 min ago	2.57 bp	11.8 bp −$12	20.0 bp −$200	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0096%	4h	0.2127	−0.125%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2131	+0.058%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	−0.092%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0004% / S −0.0004%	1h	0.2129	−0.024%	$82K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.308%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2131	+0.035%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2131	+0.049%	$52K	$493K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	−0.093%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2129	−0.029%	$564K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2131	+0.067%	$116.3M	$76.4M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDTlong	+0.0100%	4h	0.2130	long leg	$1.4M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2129	−0.025%	$408K	$569K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2130	+0.006%	$129.5M	$431.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2129	−0.031%	$88.6M	$194.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2130	+0.006%	$21.0M	$108.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2137	+0.335%	$28K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2130	+0.002%	$79K	$282K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2140	+0.471%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	+0.002%	$13.3M	$27.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2130	+0.025%	$40.6M	$43.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2130	+0.006%	$25.1M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2128	−0.083%	$48.2M	$61.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2130	+0.006%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2131	+0.053%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2139	+0.440%	$254K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2139	+0.434%	$369K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2138	+0.377%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2132	+0.096%	$175K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2079	−2.402%	$1K	$928K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	−0.139%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2131	+0.058%	$264K	$838K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2128	−0.092%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2129	−0.067%	$1.6M	$4.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.116%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0105%	1h	0.2132	+0.102%	$141K	$16K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0141%	1h	0.2128	−0.078%	$414K	$478K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2140	+0.490%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2128	−0.095%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2128	−0.088%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.106%	$5.7M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2127	−0.157%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2136	+0.279%	$793K	$2.0M	50x	as long as short