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% APRpaid last 24h 0.000%

Price spread now: Pacifica against edgeX−0.003%52s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

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

costs, in and out, $10k−$430.426% of the position

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.003%, 7d avg −0.034%

Together, before fees+0.051%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.030% dearer against edgeX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.034%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2098	0.0100	pay 0.0050% / 4h	1h 40m	$249K	$7.8M	20x
Short	Pacifica ENA	0.2098	0.0100	get 0.0013% / 1h	40m 03s	$406K	$582K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. 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 edgeXbpFee PacificabpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → −0.034%: $3.01
Slippage, 4 orders: −$25.55
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$39.55
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Pacifica: live order book, 44 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 edgeX live order book, 4 min ago	7.15 bp	11.7 bp −$12	13.2 bp −$132	44.3 bp −$4,429	doesn't fit
Sell Pacifica live order book, 44 min ago	1.42 bp	10.9 bp −$11	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	−0.0067%	4h	0.2099	+0.073%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0050%	1h	0.2101	+0.154%	$362K	$481K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.111%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	+0.093%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.217%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2100	+0.090%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2099	+0.030%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.041%	$59K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.046%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.055%	$659K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2100	+0.121%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2098	−0.003%	$406K	$582K	10x
Binance ENAUSDT	+0.0100%	4h	0.2099	+0.048%	$129.3M	$460.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	−0.022%	$87.2M	$191.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	+0.045%	$20.3M	$112.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.011%	$21K	$415K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	+0.007%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.001%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2099	+0.069%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	+0.040%	$45.0M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	+0.150%	$24.0M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.036%	$47.5M	$65.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2100	+0.092%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	−0.079%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2098	long leg	$249K	$7.8M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.131%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.089%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	+0.026%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.439%	$958	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	+0.102%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2103	+0.235%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	+0.102%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.135%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2099	+0.054%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0226% / S −0.0377%	1h	0.2100	+0.105%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2098	0.000%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.036%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.012%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2103	+0.245%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0569%	1h	0.2104	+0.269%	$111.1M	$80.0M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2102	+0.183%	$803K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1904%	1h	0.2098	−0.016%	$139K	$15K	5x	as long as short