Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Polymarket Perps against Gate+0.041%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 7 days−0.102%−$10 · spread now +0.041%, 7d avg +0.025%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2179	0.0100	pay 0.0050% / 4h	2h 13m	$11.5M	$24.4M	50x
Short	Polymarket Perps ENA-USD	0.2180	0.0100	get 0.0013% / 1h	13m 59s	$193K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → +0.025%: $1.66
Slippage, 4 orders: −$26.69
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$48.03
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Polymarket Perps: live order book, 5 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, 5 min ago	4.62 bp	12.9 bp −$13	33.3 bp −$333	58.5 bp −$5,851	97.6 bp −$48.8K
Sell Polymarket Perps live order book, 5 min ago	2.77 bp	6.8 bp −$7	13.6 bp −$136	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	−0.0138%	4h	0.2179	0.000%	$45K	$26K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2180	+0.039%	$85K	—	150x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0025%	1h	0.2180	+0.078%	$70K	$1.1M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.538%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2180	+0.046%	$4K	$277	10x	as long as short
Phemex ENAUSDT	+0.0057%	4h	0.2180	+0.060%	$1.8M	$8.9M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2180	+0.060%	$53K	$476K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2180	+0.079%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2182	+0.142%	$118.2M	$75.5M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2182	+0.152%	$1.5M	$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	0.2181	+0.109%	$409K	$528K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2182	+0.152%	$132.5M	$424.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2183	+0.202%	$88.2M	$177.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2184	+0.243%	$21.8M	$109.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2176	−0.129%	$21K	$335K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2181	+0.106%	$81K	$280K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2179	long leg	$11.5M	$24.4M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2183	+0.211%	$48.1M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2184	+0.239%	$25.5M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2181	+0.115%	$49.5M	$58.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2180	+0.046%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2174	−0.225%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2172	−0.305%	$255K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2163	−0.702%	$362K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2173	−0.262%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2180	+0.041%	$193K	$2.5M	10x
SunX ENA-USDT	+0.0100%	4h	0.2127	−2.368%	$976	$885K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2180	+0.060%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2182	+0.170%	$273K	$806K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−2.166%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2182	+0.144%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2182	+0.136%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2180	+0.037%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	−0.207%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2181	+0.088%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0238%	1h	0.2181	+0.086%	$144K	$16K	5x	as long as short
Lighter ENA	+0.0248%	1h	0.2181	+0.119%	$5.3M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2180	+0.039%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2180	+0.055%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2179	0.000%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0671%	1h	0.2180	+0.064%	$368K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2182	+0.156%	$894K	$1.8M	50x	as long as short