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 −0.001%

Price spread now: OKX against Pacifica−0.075%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.075%, 7d avg −0.017%

Together, before fees−0.047%+ Points / potential airdropPacifica: Active · farm board−$5 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: OKX is 0.058% cheaper against Pacifica than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2099	0.0100	pay 0.0013% / 1h	12m 27s	$406K	$576K	10x
Short	OKX ENA-USDT-SWAP	0.2097	0.0100	get 0.0050% / 4h	1h 12m	$20.3M	$111.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.017%: −$5.83
Slippage, 4 orders: −$20.1
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$43.93
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Pacifica: live order book, 6 min ago; OKX: 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, 6 min ago	1.43 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.24 bp	10.2 bp −$10	18.5 bp −$185	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	−0.0044%	4h	0.2097	−0.109%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0031%	1h	0.2099	−0.013%	$370K	$448K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	−0.109%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	−0.037%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.173%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2097	−0.070%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.037%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2098	−0.028%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−0.025%	$660K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	−0.001%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENAlong	+0.0100%	1h	0.2099	long leg	$406K	$576K	10x
Binance ENAUSDT	+0.0100%	4h	0.2098	−0.023%	$129.5M	$454.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2096	−0.118%	$87.1M	$190.5M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2097	−0.075%	$20.3M	$111.2M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.166%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	+0.010%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.195%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2098	−0.032%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.009%	$46.6M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	+0.030%	$23.9M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.056%	$47.4M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2098	−0.032%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.366%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.292%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.297%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.323%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.015%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.520%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.132%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.330%	$273K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.180%	$1.9M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.104%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	−0.066%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2099	+0.034%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0243% / S −0.0420%	1h	0.2097	−0.070%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2098	−0.045%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.161%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.017%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2101	+0.120%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.063%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0587%	1h	0.2102	+0.144%	$111.0M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1978%	1h	0.2097	−0.098%	$139K	$15K	5x	as long as short