Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Pacifica against OKX−0.103%49s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$400.403% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.103%, 7d avg +0.018%

Together, before fees+0.236%+ Points / potential airdropPacifica: Active · farm board+$24 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 0.121% cheaper against OKX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 49 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	OKX ENA-USDT-SWAP	0.2142	0.0100	pay 0.0050% / 4h	2h 30m	$21.1M	$109.2M	50x
Short	Pacifica ENA	0.2140	0.0100	get 0.0013% / 1h	30m 56s	$419K	$548K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against OKX. 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 OKXbpFee PacificabpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → +0.018%: −$12.05
Slippage, 4 orders: −$22.34
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$52.4
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Pacifica: live order book, 38 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 OKX live order book, 3 min ago	0.23 bp	10.6 bp −$11	20.3 bp −$203	doesn't fit	doesn't fit
Sell Pacifica live order book, 38 min ago	1.38 bp	6.9 bp −$7	doesn't fit	doesn't fit	doesn't fit

ENA on 41 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	0.2141	−0.061%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	−0.138%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0018%	1h	0.2141	−0.078%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.887%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0041%	4h	0.2140	−0.093%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2142	−0.023%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	−0.019%	$56K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	−0.007%	$697K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2142	−0.026%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2140	−0.103%	$419K	$548K	10x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2142	−0.024%	$132.8M	$444.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2142	−0.023%	$87.8M	$186.8M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2142	long leg	$21.1M	$109.2M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−0.677%	$19K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2141	−0.065%	$116K	$255K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.733%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2141	−0.047%	$11.1M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2142	−0.023%	$45.7M	$44.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2143	+0.009%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2140	−0.093%	$48.7M	$61.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2142	−0.009%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2143	+0.023%	$371K	$376K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	−0.125%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−1.267%	$242K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−0.697%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−0.859%	$32K	$667K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2142	0.000%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2090	−2.441%	$866	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2141	−0.065%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2143	+0.023%	$277K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2141	−0.065%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2140	−0.117%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2142	−0.034%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2138	−0.196%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2141	−0.058%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2142	−0.028%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2140	−0.115%	$51K	—	100x	as long as short
Lighter ENA	+0.0384%	1h	0.2144	+0.070%	$5.6M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	−0.099%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0524%	1h	0.2144	+0.089%	$115.8M	$72.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2111	−1.475%	$827K	$1.7M	50x	as long as short