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: Bulk against Pacifica−0.527%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.527% cheaper against Pacifica than usual: you would sell low and buy high, −$53 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2154	0.0100	pay 0.0013% / 1h	20m 36s	$423K	$549K	10x
Short	Bulk ENA-USD	0.2143	0.0100	get 0.0013% / 1h	20m 36s	$90K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.527%Rate

Funding earned: $0
Price spread: −0.527% → 0.000%: −$52.73
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$67.73
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 53 min ago; Bulk: no order-book sample. 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 Pacifica live order book, 53 min ago	0.23 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: 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	0.2146	−0.369%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2145	−0.428%	$103K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.437%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2145	−0.439%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0037%	1h	0.2155	+0.022%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2144	−0.481%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2144	−0.486%	$710K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2155	+0.042%	$1.6M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2154	long leg	$423K	$549K	10x
Binance ENAUSDT	+0.0100%	4h	0.2154	−0.019%	$133.8M	$444.5M	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	0.2157	+0.136%	$89.0M	$187.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2158	+0.174%	$21.2M	$110.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2145	−0.421%	$16K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2159	+0.215%	$107K	$242K	10x	as long as short
Bulk ENA-USDshort	+0.0100%	1h	0.2143	−0.527%	$90K	−$0	10x
Gate ENA_USDT	+0.0100%	4h	0.2158	+0.178%	$11.0M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2156	+0.095%	$46.1M	$44.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2155	+0.030%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2157	+0.136%	$48.9M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2158	+0.160%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2147	−0.351%	$382K	$412K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.458%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.471%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2155	+0.030%	$363K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.388%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2145	−0.439%	$185K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2094	−2.806%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2146	−0.388%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	−0.342%	$279K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2145	−0.434%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2157	+0.121%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2146	−0.389%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2147	−0.323%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2160	+0.276%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2147	−0.325%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0320%	1h	0.2158	+0.181%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0333% / S −0.0430%	1h	0.2145	−0.436%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2146	−0.393%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2144	−0.461%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2150	−0.207%	$852K	$1.8M	50x	as long as short
Lighter ENA	+0.0704%	1h	0.2157	+0.113%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0767%	1h	0.2157	+0.136%	$116.5M	$74.1M	10x	as long as short