Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.066%

Price spread now: Pacifica against BloFin+0.005%7-day average −0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.443%−$44 on $10k

Price spread, last 3 days (all we have)−0.427%−$43 · spread now +0.005%, 7d avg −0.090%

Together, before fees−0.871%+ Points / potential airdropPacifica: Active · farm board−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.095% dearer against BloFin than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.090%): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2095	0.0340	pay 0.0170% / 4h	1h 12m	$5.5M	$8.0M	75x
Short	Pacifica ENA	0.2095	0.0100	get 0.0013% / 1h	12m 55s	$405K	$576K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BloFin. 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 BloFinbpFee PacificabpOrdersPrice spread, now +0.005%Rate

Funding earned: −$50.4
Price spread: +0.005% → −0.090%: $9.47
Slippage, 4 orders: −$17.74
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$78.66
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Pacifica: 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 BloFin live order book, 6 min ago	1.19 bp	9.6 bp −$10	17.0 bp −$170	doesn't fit	doesn't fit
Sell Pacifica live order book, 6 min ago	1.43 bp	6.4 bp −$6	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
Orderly PERP_ENA_USDC	−0.0045%	4h	0.2096	+0.029%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0031%	1h	0.2099	+0.148%	$370K	$448K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	+0.052%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	+0.028%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.336%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2097	+0.091%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.019%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	+0.033%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2096	+0.032%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2098	+0.108%	$1.5M	$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 ENAshort	+0.0100%	1h	0.2095	+0.005%	$405K	$576K	10x
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.133%	$129.4M	$454.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	+0.110%	$87.2M	$190.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	+0.110%	$20.2M	$111.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.005%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	+0.029%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.034%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	+0.076%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2098	+0.119%	$46.6M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.148%	$23.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	+0.052%	$47.4M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2098	+0.110%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.206%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.131%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.136%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.162%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2095	0.000%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.362%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	+0.029%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.492%	$273K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.019%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	+0.057%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	+0.095%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2096	+0.024%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0243% / S −0.0418%	1h	0.2096	+0.019%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2097	+0.068%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2095	long leg	$5.5M	$8.0M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.040%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2099	+0.181%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.224%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2099	+0.191%	$110.8M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1980%	1h	0.2095	−0.024%	$138K	$15K	5x	as long as short