Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Pacifica−0.049%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.214%−$21 · spread now −0.049%, 7d avg −0.011%

Together, before fees−0.233%+ Points / potential airdropPacifica: Active · farm board−$23 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: MEXC is 0.038% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2092	0.0100	pay 0.0013% / 1h	53m 16s	$405K	$587K	10x
Short	MEXC ENA_USDT	0.2091	0.0100	get 0.0050% / 4h	1h 53m	$45.0M	$46.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.011%: −$3.78
Slippage, 4 orders: −$14.01
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$25.79
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from Pacifica: live order book, 30 min ago; MEXC: live order book, 1 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, 30 min ago	1.42 bp	8.3 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.24 bp	0.7 bp −$1	5.3 bp −$53	33.5 bp −$3,348	63.7 bp −$31.8K

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	−0.0078%	4h	0.2090	−0.077%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.044%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.064%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.500%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2091	−0.044%	$4K	$432	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2091	−0.060%	$2.6M	$5.6M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0071%	1h	0.2091	−0.044%	$361K	$485K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.049%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.054%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.034%	$656K	$1.8M	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	0.2093	+0.044%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2092	long leg	$405K	$587K	10x
Binance ENAUSDT	+0.0100%	4h	0.2090	−0.073%	$128.6M	$464.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.082%	$86.9M	$193.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.073%	$20.2M	$113.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.300%	$20K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.049%	$82K	$223K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2090	−0.087%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2091	−0.049%	$45.0M	$46.6M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	−0.006%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.135%	$47.3M	$65.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.077%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	+0.050%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.195%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.206%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	+0.238%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.025%	$189K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.491%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.049%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2094	+0.090%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	−0.144%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.408%	$88K	$2K	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.049%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2092	+0.018%	$5K	$356K	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2090	−0.084%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0218% / S −0.0357%	1h	0.2090	−0.087%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	−0.111%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.116%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2094	+0.099%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0533%	1h	0.2094	+0.091%	$110.3M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.109%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1807%	1h	0.2091	−0.035%	$138K	$15K	5x	as long as short