Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Ondo Perps+0.205%7-day average −0.036% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.205%, 7d avg −0.036%

Together, before fees−0.112%+ Points / potential airdropOndo Perps: Active · Pacifica: Active · farm board−$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: Pacifica is 0.241% dearer against Ondo Perps than usual: you sell high and buy low, +$24 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	Ondo Perps ENA-USD.P	0.2145	0.0100	pay 0.0013% / 1h	18m 28s	$16K	$411K	5x
Short	Pacifica ENA	0.2150	0.0100	get 0.0013% / 1h	18m 28s	$423K	$553K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Ondo Perps. 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 Ondo PerpsbpFee PacificabpOrdersPrice spread, now +0.205%Rate

Funding earned: $0
Price spread: +0.205% → −0.036%: $24.09
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $11.09
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Pacifica: live order book, 55 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 55 min ago	0.23 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2156	+0.499%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2157	+0.545%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.021%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2155	+0.471%	$42K	$23K	10x	as long as short
dYdX ENA-USD	+0.0035%	1h	0.2151	+0.262%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2150	+0.219%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2151	+0.263%	$712K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2152	+0.293%	$1.6M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2150	+0.205%	$423K	$553K	10x
Binance ENAUSDT	+0.0100%	4h	0.2151	+0.270%	$134.1M	$443.0M	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	0.2151	+0.261%	$88.7M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2151	+0.284%	$21.1M	$110.3M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2145	long leg	$16K	$411K	5x
Arcus ENA-USD	+0.0100%	1h	0.2152	+0.312%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	+0.223%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2150	+0.196%	$11.0M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2149	+0.191%	$45.9M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2151	+0.252%	$24.7M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2151	+0.247%	$48.8M	$61.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2149	+0.182%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2153	+0.368%	$383K	$410K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.037%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.042%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.029%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	+0.033%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2153	+0.350%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2101	−2.046%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2153	+0.359%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.592%	$281K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2151	+0.266%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2149	+0.163%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2156	+0.483%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2147	+0.098%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0184%	1h	0.2152	+0.322%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2155	+0.437%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0320%	1h	0.2149	+0.181%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	+0.599%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2151	+0.284%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2152	+0.313%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2162	+0.760%	$856K	$1.8M	50x	as long as short
Lighter ENA	+0.0696%	1h	0.2153	+0.340%	$5.7M	$12.7M	10x	as long as short
Hyperliquid ENA	+0.0769%	1h	0.2155	+0.471%	$117.1M	$74.5M	10x	as long as short