Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Pacifica against BingX+0.025%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on BingX 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)+0.066%+$7 · spread now +0.025%, 7d avg +0.029%

Together, before fees+0.048%+ Points / potential airdropPacifica: Active · farm board+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDT	0.2122	0.0100	pay 0.0050% / 4h	11m 19s	—	$32.6M	—
Short	Pacifica ENA	0.2122	0.0100	get 0.0013% / 1h	11m 19s	$410K	$561K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BingX. 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 BingXbpFee PacificabpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → +0.029%: −$0.5
Slippage, 4 orders: −$7.02
Fee BingX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$25.51
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Pacifica: live order book, 2 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 BingX live order book, 2 min ago	0.94 bp	6.2 bp −$6	7.8 bp −$78	11.0 bp −$1,104	22.4 bp −$11.2K
Sell Pacifica live order book, 2 min ago	0.23 bp	5.2 bp −$5	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	+0.019%	$94K	$1.7M	50x	as long as short
Orderly PERP_ENA_USDC	+0.0003%	4h	0.2121	−0.014%	$41K	$24K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2122	+0.001%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.085%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0056%	1h	0.2123	+0.066%	$376K	$446K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.075%	$62K	$528K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.090%	$678K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.028%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2122	+0.025%	$410K	$561K	10x
Binance ENAUSDT	+0.0100%	4h	0.2121	−0.019%	$131.1M	$450.3M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.009%	$89.2M	$189.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.019%	$20.6M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.085%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.028%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2121	−0.028%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2121	−0.019%	$10.9M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	0.000%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.038%	$24.6M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.127%	$48.1M	$63.4M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2122	long leg	—	$32.6M	—
Variational Omni ENA	+0.0100%	4h	0.2121	−0.031%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.282%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.349%	$364K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2129	+0.349%	$34K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	+0.047%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.394%	$1K	$827K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.028%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.344%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	+0.019%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	−0.075%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	+0.005%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.330%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2122	0.000%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0232%	1h	0.2121	−0.036%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2123	+0.047%	$2.7M	$5.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2122	+0.006%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.311%	$5.6M	$5.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	+0.004%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2127	+0.236%	$840K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2124	+0.123%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0756%	1h	0.2124	+0.104%	$114.4M	$78.4M	10x	as long as short
dYdX ENA-USD	+0.1280%	1h	0.2124	+0.120%	$140K	$15K	5x	as long as short