Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Binance+0.034%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.034%, 7d avg +0.004%

Together, before fees+0.018%+ Points / potential airdropPacifica: Active · farm board+$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: Pacifica is 0.030% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2122	0.0100	pay 0.0050% / 4h	3h 17m	$131.8M	$473.6M	75x
Short	Pacifica ENA	0.2123	0.0100	get 0.0013% / 1h	17m 33s	$407K	$603K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Binance. 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 BinancebpFee PacificabpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.004%: $2.98
Slippage, 4 orders: −$15.8
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$30.82
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Pacifica: live order book, 11 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 Binance live order book, 11 min ago	0.23 bp	8.3 bp −$8	14.4 bp −$144	50.9 bp −$5,090	doesn't fit
Sell Pacifica live order book, 11 min ago	2.11 bp	9.2 bp −$9	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0392%	1h	0.2124	+0.090%	$365K	$489K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0108%	4h	0.2123	+0.052%	$42K	$23K	10x	as long as short
Phoenix ENA	0.0000%	1h	0.2125	+0.170%	$6K	$391K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.080%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2123	+0.066%	$97K	—	150x	as long as short
Kraken Futures PF_ENAUSD	+0.0015%	1h	0.2124	+0.127%	$2.7M	$6.1M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.075%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2123	+0.071%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2121	−0.038%	$58K	$549K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	−0.008%	$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	0.2121	−0.028%	$656K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	+0.055%	$1.6M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2123	+0.034%	$407K	$603K	10x
Binance ENAUSDTlong	+0.0100%	4h	0.2122	long leg	$131.8M	$473.6M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.047%	$89.9M	$196.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.024%	$20.3M	$117.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	+0.028%	$19K	$444K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.057%	$85K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2123	+0.057%	$90K	$2K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	−0.009%	$10.5M	$22.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−0.019%	$46.1M	$50.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2123	+0.061%	$24.4M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.061%	$48.3M	$67.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2122	−0.014%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	+0.098%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.041%	$256K	$8.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	+0.011%	$365K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	+0.057%	$33K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	+0.052%	$187K	$3.1M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2073	−2.305%	$784	$801K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	+0.009%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2125	+0.156%	$275K	$1.7M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.038%	$1.9M	$9.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.099%	$78K	$11K	3x	as long as short
Extended ENA-USD	+0.0120%	1h	0.2121	−0.028%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0203% / S −0.0319%	1h	0.2123	+0.068%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	+0.071%	$5.6M	$8.3M	75x	as long as short
Lighter ENA	+0.0344%	1h	0.2124	+0.127%	$5.7M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2121	−0.035%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0456%	1h	0.2125	+0.160%	$813K	$2.2M	50x	as long as short
Hyperliquid ENA	+0.0628%	1h	0.2126	+0.198%	$113.3M	$80.7M	10x	as long as short
dYdX ENA-USD	+0.7573%	1h	0.2124	+0.094%	$140K	$12K	5x	as long as short