Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.018%

Price spread now: Bitget against gTrade (Gains Network)−0.034%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bitget

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

Funding pays, the price is against you. Bitget is 0.034% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 28 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2112	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	31m 17s	$82K	—	150x
Short	Bitget ENAUSDT	0.2111	0.0100	get 0.0050% / 4h	2h 31m	$47.9M	$57.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BitgetbpOrdersPrice spread, now −0.034%Rate

Funding earned: $20.23
Price spread: −0.034% → 0.000%: −$3.36
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$5.13
Costs to cover: 0.220%
Break-even: 8.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bitget: live order book, 3 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	0.24 bp	14.7 bp −$15	21.8 bp −$218	48.4 bp −$4,845	doesn't fit

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	−0.0144%	4h	0.2112	−0.015%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2112	+0.023%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2112	long leg	$82K	—	150x
Gate ENA_USDT	+0.0012%	4h	0.2112	−0.010%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2114	+0.123%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.549%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.038%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	+0.069%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	+0.056%	$655K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2114	+0.113%	$114.8M	$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	0.2113	+0.036%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2114	+0.094%	$397K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	−0.006%	$128.0M	$417.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	−0.010%	$85.4M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2113	+0.047%	$21.2M	$104.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.279%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	+0.104%	$79K	$276K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2112	−0.005%	$46.7M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2113	+0.042%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2111	−0.034%	$47.9M	$57.9M	75x
BingX ENA-USDC	+0.0100%	4h	0.2112	+0.009%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	+0.465%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+0.063%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	+0.082%	$351K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2114	+0.104%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	+0.028%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.378%	$1K	$871K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	+0.009%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.511%	$268K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+0.104%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.293%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.025%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2112	−0.006%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2115	+0.161%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2113	+0.059%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0208%	1h	0.2116	+0.203%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0294%	1h	0.2115	+0.128%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2111	−0.030%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	+0.085%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.002%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0597%	1h	0.2113	+0.052%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2131	+0.899%	$872K	$1.7M	50x	as long as short