Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0145%/8hpaid last 24h −0.091%

Price spread now: GMX against Aster+0.043%7-day average — · you sell dearer than you buy

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

Long on Aster Short on GMX

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.043% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2132	0.0100	pay 0.0050% / 4h	6m 02s	$1.6M	$3.3M	50x
Short	GMX ENA/USD [ETH-USDC]	0.2133	L +0.0174% / S −0.0245%	get 0.0031% / 1h	6m 02s	$38K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.043%Rate

Funding earned: $30.51
Price spread: +0.043% → 0.000%: $4.3
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $14.81
Costs to cover: 0.200%
Break-even: 3.6 days

Slippage unknown: Aster: live order book, 2 min ago; GMX: 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, 2 min ago	1.41 bp	15.5 bp −$15	25.9 bp −$259	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0263%	1h	0.2132	−0.010%	$368K	$493K	5x	as long as short
Injective ENA/USDC PERP	−0.0223%	1h	0.2123	−0.409%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	−0.0222%	1h	0.2133	+0.063%	$2.7M	$6.1M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0139%	4h	0.2132	−0.029%	$42K	$22K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2132	+0.018%	$4K	$432	10x	as long as short
Phemex ENAUSDT	−0.0027%	4h	0.2131	−0.052%	$1.9M	$9.4M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2133	+0.023%	$95K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2133	+0.032%	$99K	—	150x	as long as short
Phoenix ENA	+0.0076%	1h	0.2132	+0.004%	$6K	$392K	10x	as long as short
Bitget ENAUSDT	+0.0080%	4h	0.2129	−0.127%	$48.6M	$67.0M	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	0.2131	−0.052%	$59K	$564K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	−0.052%	$48K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.087%	$654K	$1.9M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2132	long leg	$1.6M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2132	+0.003%	$409K	$618K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2130	−0.077%	$131.7M	$476.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2130	−0.094%	$90.4M	$198.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2130	−0.076%	$20.4M	$120.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	−0.226%	$19K	$470K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2132	−0.005%	$85K	$216K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	−0.090%	$10.6M	$23.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	−0.071%	$45.6M	$53.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2132	−0.015%	$23.7M	$16.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2130	−0.076%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	−0.172%	$3.7M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	−0.093%	$255K	$8.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	−0.139%	$359K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2132	−0.005%	$32K	$719K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2133	+0.037%	$194K	$3.2M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2081	−2.402%	$1K	$787K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	−0.052%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	+0.126%	$276K	$1.7M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−0.240%	$89K	$1K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2130	−0.087%	$1.7M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2132	+0.018%	$78K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0174% / S −0.0245%	1h	0.2133	+0.043%	$38K	—	100x
Hyperliquid ENA	+0.0204%	1h	0.2134	+0.088%	$113.7M	$79.4M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	−0.005%	$5.7M	$8.4M	75x	as long as short
Lighter ENA	+0.0400%	1h	0.2135	+0.117%	$5.9M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2131	−0.070%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2134	+0.098%	$816K	$2.4M	50x	as long as short
dYdX ENA-USD	+0.5942%	1h	0.2135	+0.135%	$141K	$12K	5x	as long as short