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 −0.011%

Price spread now: Bitget against Pacifica−0.096%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Pacifica Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.271%−$27 · spread now −0.096%, 7d avg −0.073%

Together, before fees−0.269%+ Points / potential airdropPacifica: Active · farm board−$27 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: Bitget is 0.023% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2121	0.0100	pay 0.0013% / 1h	22m 12s	$414K	$506K	10x
Short	Bitget ENAUSDT	0.2119	0.0100	get 0.0050% / 4h	1h 22m	$48.3M	$57.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.073%: −$2.35
Slippage, 4 orders: −$22.27
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.62
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Pacifica: live order book, 41 min ago; Bitget: live order book, 2 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, 41 min ago	1.41 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.71 bp	12.4 bp −$12	20.3 bp −$203	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	−0.0017%	4h	0.2121	+0.012%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	−0.007%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2120	−0.032%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2121	−0.011%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.107%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.054%	$55K	$494K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.030%	$681K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2123	+0.105%	$114.1M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.020%	$1.5M	$3.0M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2121	long leg	$414K	$506K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.089%	$129.9M	$419.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.106%	$86.8M	$175.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.082%	$20.9M	$102.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2109	−0.596%	$19K	$365K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.007%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.685%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2121	−0.007%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2120	−0.049%	$45.9M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.026%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2119	−0.096%	$48.3M	$57.7M	75x
BingX ENA-USDT	+0.0100%	4h	0.2121	−0.021%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2121	−0.011%	$375K	$363K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2101	−0.944%	$3.4M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.729%	$242K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2102	−0.917%	$351K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2108	−0.619%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	−0.011%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.397%	$872	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	−0.054%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.083%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	−0.054%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2121	−0.025%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−0.045%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	+0.008%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2107	−0.676%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2121	−0.023%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0281%	1h	0.2120	−0.074%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2121	−0.001%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	−0.002%	$5.7M	$3.1M	75x	as long as short
Lighter ENA	+0.0408%	1h	0.2123	+0.088%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.052%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2114	−0.341%	$831K	$1.5M	50x	as long as short