Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Arcus+0.019%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now +0.019%, 7d avg −0.025%

Together, before fees+0.108%+$11 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: Binance is 0.045% dearer against Arcus than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2064	0.0100	pay 0.0013% / 1h	31m 36s	$76K	$227K	10x
Short	Binance ENAUSDT	0.2064	0.0100	get 0.0050% / 4h	1h 31m	$123.3M	$406.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.025%: $4.45
Slippage, 4 orders: −$26.52
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$36.57
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Arcus: live order book, 15 min ago; Binance: 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 Arcus live order book, 15 min ago	9.54 bp	12.5 bp −$13	23.9 bp −$239	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.24 bp	7.5 bp −$8	17.2 bp −$172	53.8 bp −$5,379	doesn't fit

ENA on 42 exchanges

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
01 Exchange ENAUSD	−0.0344%	1h	0.2050	−0.678%	$4K	$60	10x	as long as short
Orderly PERP_ENA_USDC	−0.0171%	4h	0.2063	−0.048%	$43K	$13K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0135%	1h	0.2065	+0.044%	$2.5M	$3.1M	50x	as long as short
Bitget ENAUSDT	−0.0028%	4h	0.2063	−0.063%	$46.6M	$56.5M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2064	+0.005%	$72K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2064	+0.017%	$80K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+2.805%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2064	0.000%	$4.8M	$12.7M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2065	+0.048%	$51K	$391K	50x	as long as short
Paradex ENA-USD-PERP	+0.0099%	8h	0.2063	−0.049%	$46K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2065	+0.036%	$530K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2064	0.000%	$111.0M	$77.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2064	0.000%	$1.3M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2063	−0.062%	$376K	$510K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2064	+0.019%	$123.3M	$406.2M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2064	+0.024%	$83.0M	$186.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2065	+0.029%	$20.5M	$97.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2062	−0.116%	$32K	$317K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2064	long leg	$76K	$227K	10x
Bulk ENA-USD	+0.0100%	1h	0.2082	+0.848%	$102K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2064	+0.005%	$13.8M	$27.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2063	−0.053%	$42.1M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2065	+0.053%	$24.5M	$14.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2064	−0.015%	—	$29.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2066	+0.073%	$400K	$475K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2080	+0.781%	$2.9M	$7.7M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2059	−0.226%	$239K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2062	−0.117%	$351K	$4.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2059	−0.242%	$22K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2065	+0.053%	$126K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2014	−2.422%	$1K	$924K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2065	+0.048%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2070	+0.296%	$266K	$783K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2065	+0.048%	$1.8M	$9.0M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2063	−0.042%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2064	−0.024%	$72K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2084	+0.993%	$13K	$278K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0303% / S −0.0754%	1h	0.2075	+0.533%	$57K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2060	−0.189%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2062	−0.116%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2068	+0.199%	$757K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.1525%	1h	0.2064	+0.015%	$137K	$15K	5x	as long as short