Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.066%

Price spread now: BloFin against Arcus+0.014%7-day average +0.051% · 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−$55as in the Price arb table

costs, in and out, $10k−$510.511% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.211%+$21 on $10k

Price spread, last 3 days (all we have)+0.620%+$62 · spread now +0.014%, 7d avg +0.051%

Together, before fees+0.831%+$83 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.037% cheaper against Arcus than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.051%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2098	0.0100	pay 0.0013% / 1h	32m 47s	$82K	$223K	10x
Short	BloFin ENA-USDT	0.2098	0.0340	get 0.0170% / 4h	2h 32m	$5.5M	$8.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $50.4
Price spread: +0.014% → +0.051%: −$3.65
Slippage, 4 orders: −$34.58
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.33
Costs to cover: 0.511%
Break-even: 7.6 days

Slippage from Arcus: live order book, 55 min ago; BloFin: live order book, 6 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, 55 min ago	4.69 bp	16.6 bp −$17	26.7 bp −$267	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.24 bp	14.2 bp −$14	19.8 bp −$198	75.6 bp −$7,562	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
Backpack ENA_USDC_PERP	−0.0316%	1h	0.2099	+0.062%	$361K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2097	−0.033%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2098	−0.014%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	+0.043%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	+0.012%	$96K	—	150x	as long as short
Gate ENA_USDT	+0.0010%	4h	0.2098	−0.019%	$10.4M	$21.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.211%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.119%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.048%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.055%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.054%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	+0.041%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	−0.024%	$403K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.019%	$129.4M	$467.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.005%	$87.8M	$193.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.033%	$20.2M	$114.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.357%	$19K	$433K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2098	long leg	$82K	$223K	10x
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.191%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	+0.029%	$44.7M	$48.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.067%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.033%	$47.5M	$66.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2098	+0.019%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.287%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.227%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.211%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.238%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.043%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.407%	$1K	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	0.000%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2100	+0.095%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2098	0.000%	$1.9M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2099	+0.067%	$2.7M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.011%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	−0.004%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2098	+0.009%	$50K	—	100x	as long as short
Lighter ENA	+0.0288%	1h	0.2101	+0.153%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0302%	1h	0.2101	+0.156%	$110.9M	$80.8M	10x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2098	+0.014%	$5.5M	$8.1M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.038%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.133%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8864%	1h	0.2098	−0.004%	$139K	$15K	5x	as long as short