Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against MEXC+0.123%7-day average +0.036% · 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−$20as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on MEXC Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.123%, 7d avg +0.036%

Together, before fees−0.115%−$11 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: Arcus is 0.087% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2114	0.0100	pay 0.0050% / 4h	3h 59m	$46.1M	$40.8M	200x
Short	Arcus ENA-USD	0.2117	0.0100	get 0.0013% / 1h	59m 24s	$79K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against MEXC. 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 MEXCbpFee ArcusbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.036%: $8.67
Slippage, 4 orders: −$24.12
Fee MEXC: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$19.94
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Arcus: live order book, 59 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 MEXC live order book, 5 min ago	0.24 bp	2.5 bp −$3	7.8 bp −$78	42.9 bp −$4,287	77.9 bp −$39.0K
Sell Arcus live order book, 59 min ago	9.48 bp	12.5 bp −$12	26.6 bp −$266	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	−0.0126%	1h	0.2115	+0.038%	$362K	$401K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2115	+0.028%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.061%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2114	+0.001%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2116	+0.095%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.426%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2117	+0.099%	$8K	$265K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+0.028%	$56K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	+0.095%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	+0.005%	$658K	$1.7M	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	0.2117	+0.109%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	+0.102%	$404K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2115	+0.033%	$128.7M	$415.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2114	+0.005%	$85.4M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	+0.043%	$21.1M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	+0.014%	$20K	$319K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2117	+0.123%	$79K	$276K	10x
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.374%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	+0.071%	$11.1M	$22.0M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2114	long leg	$46.1M	$40.8M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	+0.061%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	−0.038%	$48.0M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	+0.109%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.025%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	−0.078%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+0.038%	$359K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.076%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+0.080%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.379%	$1K	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	+0.076%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.194%	$274K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	+0.028%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	+0.053%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	+0.060%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0149%	1h	0.2116	+0.053%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0192%	1h	0.2117	+0.142%	$5.2M	$13.2M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+0.107%	$2.6M	$4.3M	50x	as long as short
Hyperliquid ENA	+0.0253%	1h	0.2118	+0.166%	$115.4M	$74.8M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2116	+0.070%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.024%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2114	−0.026%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2120	+0.274%	$866K	$1.7M	50x	as long as short