Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Arcus against Bybit+0.096%46s7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.464% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.180%−$18 · spread now +0.096%, 7d avg +0.082%

Together, before fees−0.173%−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2094	0.0100	pay 0.0050% / 4h	2h 47m	$87.7M	$194.3M	50x
Short	Arcus ENA-USD	0.2096	0.0100	get 0.0013% / 1h	47m 01s	$83K	$221K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → +0.082%: $1.39
Slippage, 4 orders: −$30.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$45.03
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Arcus: live order book, 41 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 Bybit live order book, 2 min ago	0.24 bp	8.0 bp −$8	18.9 bp −$189	61.5 bp −$6,149	doesn't fit
Sell Arcus live order book, 41 min ago	4.69 bp	11.4 bp −$11	24.8 bp −$248	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	−0.0411%	1h	0.2095	+0.062%	$361K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0094%	4h	0.2094	+0.014%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2095	+0.072%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0036%	4h	0.2093	−0.048%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.072%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	+0.074%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.404%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2096	+0.100%	$5K	$394K	10x	as long as short
ApeX Omni ENAUSDT	+0.0086%	1h	0.2097	+0.143%	$32K	$711K	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2097	+0.119%	$5.7M	$13.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2094	0.000%	$59K	$542K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	+0.025%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2094	+0.024%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	+0.056%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	+0.062%	$402K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	+0.062%	$129.3M	$470.7M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2094	long leg	$87.7M	$194.3M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	+0.057%	$20.1M	$114.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2096	+0.091%	$19K	$444K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2096	+0.096%	$83K	$221K	10x
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.287%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	+0.029%	$45.0M	$48.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	+0.076%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.038%	$47.4M	$66.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2095	+0.033%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	+0.036%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	+0.146%	$251K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2097	+0.143%	$357K	$4.6M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.110%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.326%	$961	$808K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2094	0.000%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.320%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	0.000%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2095	+0.030%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	+0.051%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	+0.136%	$2.7M	$5.8M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2095	+0.061%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0227%	1h	0.2097	+0.167%	$111.5M	$80.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	+0.029%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.019%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.325%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8247%	1h	0.2095	+0.064%	$138K	$12K	5x	as long as short