Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Bulk−0.094%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bulk Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.094% cheaper against Bulk than usual: you would sell low and buy high, −$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ENA-USD	0.2122	0.0100	pay 0.0013% / 1h	0m 12s	$89K	$500	10x
Short	Pacifica ENA	0.2120	0.0100	get 0.0013% / 1h	0m 12s	$410K	$575K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bulk. 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 BulkbpFee PacificabpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → 0.000%: −$9.44
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$24.44
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bulk: no order-book sample; Pacifica: live order book, 18 min ago. Net counts fees only.

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 Bulk no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 18 min ago	1.43 bp	6.4 bp −$6	doesn't fit	doesn't fit	doesn't fit

Bulk: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0036%	4h	0.2120	−0.066%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	−0.024%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2121	−0.033%	$105K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0012%	1h	0.2122	0.000%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.085%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0065%	1h	0.2122	+0.037%	$2.7M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.076%	$63K	$530K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2122	+0.040%	$666K	$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	0.2120	−0.094%	$410K	$575K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2121	−0.022%	$131.2M	$455.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.038%	$89.1M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	−0.061%	$20.5M	$112.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.198%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.028%	$83K	$220K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2122	long leg	$89K	$500	10x
Gate ENA_USDT	+0.0100%	4h	0.2121	−0.028%	$10.8M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−0.043%	$46.7M	$47.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.019%	$24.2M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.094%	$48.0M	$64.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	−0.047%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.303%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	−0.460%	$251K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	−0.688%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	−0.500%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	+0.019%	$178K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2069	−2.498%	$1K	$819K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.028%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.075%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	−0.123%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	−0.105%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	−0.043%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2109	−0.570%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0152%	1h	0.2121	−0.024%	$4K	$312	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2121	−0.049%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.222%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2120	−0.081%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.057%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0568%	1h	0.2123	+0.071%	$5.7M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2124	+0.137%	$839K	$2.2M	50x	as long as short
Hyperliquid ENA	+0.0586%	1h	0.2124	+0.122%	$112.4M	$78.6M	10x	as long as short
dYdX ENA-USD	+0.1985%	1h	0.2120	−0.074%	$140K	$15K	5x	as long as short