Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.101%

Price spread now: gTrade (Gains Network) against BloFin−0.035%7-day average — · you buy dearer than you sell

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

Long on BloFin 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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and gTrade (Gains Network) is 0.035% cheaper against BloFin than usual: you would sell low and buy high (−$3 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	BloFin ENA-USDT	0.2093	0.0340	pay 0.0170% / 4h	38m 53s	$5.5M	$3.0M	75x
Short	gTrade (Gains Network) ENA/USD	0.2092	L +0.0004% / S −0.0004%	get 0.0000% / 1h	38m 53s	$81K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.035%Rate

Funding earned: −$70.65
Price spread: −0.035% → 0.000%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$96.14
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 5 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 BloFin live order book, 5 min ago	1.67 bp	8.1 bp −$8	13.8 bp −$138	65.5 bp −$6,552	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
Backpack ENA_USDC_PERP	−0.0297%	1h	0.2092	−0.053%	$363K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2093	−0.019%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0065%	4h	0.2092	−0.076%	$43K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2092	−0.076%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USDshort	L +0.0004% / S −0.0004%	1h	0.2092	−0.035%	$81K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.443%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2104	+0.516%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2093	0.000%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.105%	$55K	$503K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2092	−0.044%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2092	−0.072%	$659K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2093	+0.005%	$111.3M	$73.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2093	+0.003%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	+0.102%	$408K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2093	−0.019%	$127.6M	$415.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2092	−0.033%	$84.9M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	+0.010%	$20.8M	$102.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	+0.425%	$20K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2088	−0.248%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.219%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2093	−0.024%	$11.0M	$21.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2093	+0.010%	$45.6M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2094	+0.057%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	−0.096%	$47.6M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2093	−0.024%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.170%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	+0.181%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2098	+0.229%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.229%	$20K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.057%	$177K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2042	−2.432%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.105%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.272%	$271K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2092	−0.057%	$1.7M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2092	−0.051%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	−0.081%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0113%	1h	0.2094	+0.056%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2093	−0.030%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2093	−0.006%	$51K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2093	long leg	$5.5M	$3.0M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2091	−0.119%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2106	+0.616%	$858K	$1.5M	50x	as long as short