Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.017%

Price spread now: Extended against Gate−0.075%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days+0.055%+$6 · spread now −0.075%, 7d avg −0.021%

Together, before fees+0.133%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.055% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2111	0.0100	pay 0.0050% / 4h	1h 32m	$11.0M	$21.3M	50x
Short	Extended ENA-USD	0.2110	0.0104	get 0.0013% / 1h	32m 05s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0.84
Price spread: −0.075% → −0.021%: −$5.46
Slippage, 4 orders: −$26.59
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$51.21
Costs to cover: 0.466%
Break-even: 433.8 days

Slippage from Gate: live order book, 2 min ago; Extended: live order book, 2 min ago.

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 Gate live order book, 2 min ago	4.01 bp	19.3 bp −$19	28.5 bp −$285	52.7 bp −$5,274	90.5 bp −$45.3K
Sell Extended live order book, 2 min ago	0.24 bp	5.3 bp −$5	10.8 bp −$108	doesn't fit	doesn't fit

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	−0.0005%	4h	0.2110	−0.043%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.005%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	+0.005%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2115	+0.161%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.573%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0093%	1h	0.2115	+0.164%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	+0.128%	$55K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2112	+0.012%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2114	+0.123%	$113.6M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2113	+0.062%	$1.5M	$3.0M	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	0.2115	+0.168%	$413K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	+0.047%	$129.7M	$420.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	+0.038%	$86.6M	$175.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2111	−0.009%	$20.8M	$102.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.303%	$19K	$366K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	+0.128%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.175%	$93K	$4K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2111	long leg	$11.0M	$21.3M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2111	−0.005%	$45.4M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	+0.043%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	−0.114%	$48.1M	$57.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2111	+0.005%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2112	+0.019%	$374K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	+0.073%	$3.4M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	+0.165%	$244K	$7.3M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.267%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.223%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	+0.156%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.226%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	−0.014%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.270%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2112	+0.033%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	+0.157%	$47K	$110	10x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2110	−0.075%	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.014%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2107	−0.199%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2112	+0.022%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2112	+0.040%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.270%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0384%	1h	0.2113	+0.099%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	+0.006%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2118	+0.298%	$833K	$1.5M	50x	as long as short