Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Pacifica against Gate−0.147%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$530.535% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.460%+$46 · spread now −0.147%, 7d avg +0.029%

Together, before fees+0.477%+ Points / potential airdropPacifica: Active · farm board+$48 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 0.176% cheaper against Gate than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2108	0.0100	pay 0.0050% / 4h	1h 45m	$11.0M	$21.2M	50x
Short	Pacifica ENA	0.2105	0.0100	get 0.0013% / 1h	45m 47s	$411K	$516K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Gate. 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 GatebpFee PacificabpOrdersPrice spread, now −0.147%Rate

Funding earned: $0
Price spread: −0.147% → +0.029%: −$17.63
Slippage, 4 orders: −$30.48
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$71.11
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Pacifica: live order book, 18 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 Gate live order book, 3 min ago	4.50 bp	13.9 bp −$14	31.7 bp −$317	53.8 bp −$5,383	92.9 bp −$46.4K
Sell Pacifica live order book, 18 min ago	1.41 bp	9.6 bp −$10	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	+0.128%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	+0.077%	$82K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0015%	4h	0.2109	+0.019%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2107	−0.043%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.716%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2108	−0.014%	$54K	$500K	50x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2111	+0.142%	$113.5M	$71.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2110	+0.084%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2105	−0.147%	$411K	$516K	10x
Binance ENAUSDT	+0.0100%	4h	0.2109	+0.014%	$129.7M	$425.9M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2108	−0.005%	$86.4M	$177.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	+0.038%	$20.7M	$103.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	−0.076%	$19K	$381K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	−0.109%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.413%	$93K	$4K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2108	long leg	$11.0M	$21.2M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2109	+0.019%	$45.5M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2110	+0.066%	$24.5M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2107	−0.062%	$48.0M	$58.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2108	−0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	+0.080%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	+0.187%	$245K	$7.4M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	+0.555%	$358K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.128%	$32K	$647K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	+0.064%	$681K	$1.7M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2110	+0.071%	$191K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2060	−2.310%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2109	+0.033%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.394%	$276K	$785K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2110	+0.081%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	−0.133%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	+0.081%	$74K	$4K	3x	as long as short
Backpack ENA_USDC_PERP	+0.0117%	1h	0.2111	+0.138%	$374K	$364K	5x	as long as short
Extended ENA-USD	+0.0144%	1h	0.2109	+0.012%	$1.6M	$4.1M	50x	as long as short
dYdX ENA-USD	+0.0148%	1h	0.2106	−0.132%	$139K	$15K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2113	+0.242%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2111	+0.105%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2111	+0.136%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0312%	1h	0.2112	+0.180%	$5.5M	$13.6M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	−0.009%	—	$3.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	+0.050%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2117	+0.398%	$832K	$1.5M	50x	as long as short