Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against Pacifica−0.045%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Pacifica Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.045%, 7d avg +0.024%

Together, before fees−0.033%+ Points / potential airdropPacifica: Active · farm board−$3 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 0.068% cheaper against Pacifica than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2103	0.0100	pay 0.0013% / 1h	40m 28s	$395K	$522K	10x
Short	Arcus ENA-USD	0.2102	0.0100	get 0.0013% / 1h	40m 28s	$78K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Pacifica. 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 PacificabpFee ArcusbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → +0.024%: −$6.83
Slippage, 4 orders: −$28.93
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$48.25
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Pacifica: live order book, 8 min ago; Arcus: live order book, 8 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 Pacifica live order book, 8 min ago	1.66 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 8 min ago	7.12 bp	10.1 bp −$10	22.2 bp −$222	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	−0.0142%	4h	0.2100	−0.140%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0131%	1h	0.2101	−0.102%	$73K	$1.1M	50x	as long as short
Gate ENA_USDT	−0.0020%	4h	0.2099	−0.168%	$11.0M	$23.5M	50x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2099	−0.192%	$4K	$277	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2100	−0.128%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.973%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.235%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	−0.035%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−0.237%	$650K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2101	−0.097%	$113.9M	$74.4M	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	−0.137%	$1.4M	$3.2M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2103	long leg	$395K	$522K	10x
Binance ENAUSDT	+0.0100%	4h	0.2100	−0.149%	$127.1M	$416.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.130%	$85.0M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	−0.054%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	+0.379%	$20K	$322K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2102	−0.045%	$78K	$276K	10x
Bulk ENA-USD	+0.0100%	1h	0.2112	+0.431%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.206%	$45.3M	$40.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	−0.164%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.254%	$47.7M	$58.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2100	−0.130%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2100	−0.130%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.276%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	+0.336%	$349K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	+0.336%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	−0.173%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.166%	$1K	$867K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2101	−0.092%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.155%	$266K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	−0.140%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.109%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	−0.144%	$73K	$4K	3x	as long as short
Lighter ENA	+0.0144%	1h	0.2104	+0.046%	$5.2M	$13.0M	10x	as long as short
Phoenix ENA	+0.0153%	1h	0.2111	+0.369%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2102	−0.037%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2100	−0.161%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2105	+0.079%	$5.5M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0408%	1h	0.2103	−0.014%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.209%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0577%	1h	0.2100	−0.126%	$356K	$398K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.140%	$860K	$1.7M	50x	as long as short