Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0654%/8h= +71.6% APRpaid last 24h +0.036%

Price spread now: GMX against SunX+2.505%7-day average — · you sell dearer than you buy

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

Long on SunX Short on GMX

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

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and GMX is 2.505% dearer against SunX than usual: you sell high and buy low: +$250 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ENA-USDT	0.2051	0.0100	pay 0.0050% / 4h	19m 35s	$1K	$908K	20x
Short	GMX ENA/USD [ETH-USDC]	0.2102	L +0.0306% / S −0.0754%	get 0.0094% / 1h	19m 35s	$58K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now +2.505%Rate

Funding earned: $137.27
Price spread: +2.505% → 0.000%: $250.5
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $367.77
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: SunX: live order book, 33 min ago; GMX: no order-book sample. 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 SunX live order book, 33 min ago	262.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0089%	4h	0.2102	+2.472%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	+2.516%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2102	+2.504%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2107	+2.711%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+3.525%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	+2.677%	$53K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2103	+2.542%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2102	+2.484%	$562K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2106	+2.681%	$114.2M	$74.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	+2.589%	$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	0.2104	+2.581%	$406K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2104	+2.579%	$128.1M	$425.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	+2.516%	$90.3M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	+2.584%	$21.0M	$106.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	+2.043%	$33K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+2.677%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	+2.628%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2104	+2.599%	$12.8M	$27.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	+2.569%	$39.1M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	+2.642%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2103	+2.516%	$47.7M	$59.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2104	+2.579%	—	$31.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2104	+2.574%	$407K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+2.256%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+2.164%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	+2.140%	$351K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	+2.335%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2103	+2.530%	$181K	$2.6M	10x	as long as short
SunX ENA-USDTlong	+0.0100%	4h	0.2051	long leg	$1K	$908K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2102	+2.482%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2104	+2.579%	$265K	$814K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	+2.482%	$1.8M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2106	+2.681%	$5.0M	$13.9M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2104	+2.562%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2103	+2.510%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2103	+2.537%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2094	+2.111%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0306% / S −0.0754%	1h	0.2102	+2.505%	$58K	—	100x
BloFin ENA-USDT	+0.0340%	4h	0.2099	+2.326%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2101	+2.416%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2098	+2.282%	$867K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0982%	1h	0.2104	+2.555%	$139K	$16K	5x	as long as short