Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)−2.397%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 SunX

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. SunX is 2.397% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −2.397% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$240 on $10k: about 3 months 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	0.2123	L +0.0004% / S −0.0004%	pay 0.0000% / 1h	15m 13s	$82K	—	150x
Short	SunX ENA-USDT	0.2072	0.0100	get 0.0050% / 4h	1h 15m	$1K	$903K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.397%Rate

Funding earned: $20.23
Price spread: −2.397% → 0.000%: −$239.69
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$237.45
Costs to cover: 0.180%
Break-even: 89.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 47 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 SunX live order book, 47 min ago	258.54 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0108%	4h	0.2123	−0.004%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.057%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0004% / S −0.0004%	1h	0.2123	long leg	$82K	—	150x
01 Exchange ENAUSD	+0.0008%	1h	0.2123	+0.001%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.029%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.037%	$55K	$487K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	−0.012%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	−0.067%	$562K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2125	+0.119%	$115.2M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2124	+0.045%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2123	+0.001%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2123	+0.033%	$128.6M	$428.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2122	−0.037%	$91.0M	$187.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	+0.053%	$21.3M	$108.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.010%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.010%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.252%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2123	+0.020%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.039%	$37.9M	$43.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	+0.062%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	−0.065%	$48.1M	$60.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2123	+0.015%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.108%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.008%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.190%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	−0.037%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	+0.020%	$185K	$2.6M	10x	as long as short
SunX ENA-USDTshort	+0.0100%	4h	0.2072	−2.397%	$1K	$903K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.057%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2125	+0.114%	$267K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	−0.037%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2122	−0.028%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.039%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2128	+0.246%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0176%	1h	0.2125	+0.128%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USD	+0.0238%	1h	0.2122	−0.046%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2123	0.000%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	+0.053%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0408%	1h	0.2123	+0.029%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−0.037%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2124	+0.079%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.599%	$881K	$1.8M	50x	as long as short