Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Polymarket Perps against BloFin+0.014%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.677%−$68 on $10k

Price spread, last 3 days (all we have)−0.217%−$22 · spread now +0.014%, 7d avg −0.053%

Together, before fees−0.894%−$89 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.067% dearer against BloFin than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.053%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2132	0.0340	pay 0.0170% / 4h	2h 48m	$5.7M	$2.0M	75x
Short	Polymarket Perps ENA-USD	0.2133	0.0100	get 0.0013% / 1h	48m 46s	$180K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$50.4
Price spread: +0.014% → −0.053%: $6.7
Slippage, 4 orders: −$22.45
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$86.15
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Polymarket Perps: 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 BloFin live order book, 5 min ago	6.59 bp	14.1 bp −$14	22.0 bp −$220	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	3.06 bp	7.1 bp −$7	7.3 bp −$73	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	0.2129	−0.141%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2131	−0.060%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2133	+0.028%	$4K	$302	10x	as long as short
dYdX ENA-USD	+0.0032%	1h	0.2123	−0.438%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.422%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0038%	4h	0.2129	−0.183%	$41K	$23K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2126	−0.291%	$5.5M	$13.6M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2132	−0.019%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2133	+0.019%	$703K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	−0.177%	$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 ENA	+0.0100%	1h	0.2122	−0.484%	$416K	$548K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	−0.496%	$132.0M	$444.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	−0.675%	$86.7M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.647%	$21.1M	$108.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	−0.370%	$17K	$408K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	−0.582%	$115K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−0.237%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	−0.572%	$10.7M	$20.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2120	−0.600%	$44.7M	$43.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	−0.380%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.736%	$48.0M	$61.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2118	−0.689%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2129	−0.174%	$368K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2125	−0.337%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.533%	$244K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.388%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	−0.300%	$32K	$690K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2133	+0.014%	$180K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2077	−2.589%	$1K	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2129	−0.159%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.094%	$275K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2129	−0.159%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.683%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2129	−0.138%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2127	−0.253%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2130	−0.136%	$2.7M	$4.9M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2131	−0.085%	$51K	—	100x	as long as short
Extended ENA-USD	+0.0304%	1h	0.2117	−0.730%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2132	long leg	$5.7M	$2.0M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2131	−0.060%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0486%	1h	0.2127	−0.253%	$114.6M	$74.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2131	−0.047%	$837K	$1.8M	50x	as long as short