Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Gate against OKX+0.038%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.038%, 7d avg +0.002%

Together, before fees+0.023%+$2 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: Gate is 0.036% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2118	0.0100	pay 0.0050% / 4h	22m 18s	$20.9M	$103.6M	50x
Short	Gate ENA_USDT	0.2118	0.0100	get 0.0050% / 4h	22m 18s	$11.1M	$22.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → +0.002%: $3.58
Slippage, 4 orders: −$34.34
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$55.76
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 1 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 OKX live order book, 2 min ago	0.24 bp	11.2 bp −$11	22.7 bp −$227	81.7 bp −$8,167	doesn't fit
Sell Gate live order book, 1 min ago	0.94 bp	16.0 bp −$16	40.5 bp −$405	55.4 bp −$5,535	93.0 bp −$46.5K

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	−0.0186%	1h	0.2121	+0.156%	$364K	$397K	5x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2120	+0.118%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0069%	4h	0.2119	+0.047%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.047%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	+0.051%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.274%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+0.043%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	+0.066%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	+0.030%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	+0.043%	$656K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2122	+0.195%	$115.6M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	+0.113%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2120	+0.103%	$405K	$516K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	+0.053%	$129.0M	$416.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.028%	$85.5M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2118	long leg	$20.9M	$103.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.099%	$18K	$316K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.113%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.052%	$93K	$4K	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2118	+0.038%	$11.1M	$22.1M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2119	+0.061%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	+0.132%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	+0.005%	$48.1M	$57.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2118	+0.038%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2116	−0.059%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	−0.051%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.151%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.019%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	+0.094%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.267%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	+0.066%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.208%	$274K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2117	−0.028%	$1.8M	$8.8M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2121	+0.179%	$5.2M	$13.5M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2118	+0.041%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.073%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0138%	1h	0.2119	+0.046%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2120	+0.127%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0291% / S −0.0316%	1h	0.2119	+0.048%	$65K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	+0.047%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	+0.002%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.439%	$869K	$1.7M	50x	as long as short