Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against Polymarket Perps−0.076%7-day average −0.032% · 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−$47as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Polymarket Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.670%−$67 · spread now −0.076%, 7d avg −0.032%

Together, before fees−0.660%−$66 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 0.044% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2097	0.0100	pay 0.0013% / 1h	46m 07s	$182K	$3.0M	10x
Short	Arcus ENA-USD	0.2095	0.0100	get 0.0013% / 1h	46m 07s	$83K	$221K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Polymarket Perps. 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 Polymarket PerpsbpFee ArcusbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → −0.032%: −$4.42
Slippage, 4 orders: −$29.73
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$46.65
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Arcus: live order book, 42 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 Polymarket Perps live order book, 3 min ago	2.86 bp	6.9 bp −$7	8.8 bp −$88	14328.2 bp −$1.43M	doesn't fit
Sell Arcus live order book, 42 min ago	4.69 bp	11.4 bp −$11	24.8 bp −$248	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
Backpack ENA_USDC_PERP	−0.0405%	1h	0.2094	−0.129%	$360K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0092%	4h	0.2094	−0.119%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2095	−0.072%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0036%	4h	0.2092	−0.200%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	−0.062%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	−0.035%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.278%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2096	−0.024%	$5K	$394K	10x	as long as short
ApeX Omni ENAUSDT	+0.0086%	1h	0.2097	+0.019%	$32K	$711K	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2096	−0.043%	$5.6M	$13.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.124%	$59K	$542K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2094	−0.128%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2094	−0.122%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	−0.086%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	−0.069%	$402K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2093	−0.155%	$129.2M	$470.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2092	−0.196%	$87.6M	$194.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	−0.157%	$20.1M	$114.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2096	−0.033%	$19K	$444K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2095	−0.076%	$83K	$221K	10x
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.162%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	−0.196%	$45.0M	$48.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	−0.095%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.229%	$47.4M	$66.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2093	−0.181%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.088%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	+0.022%	$251K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2097	+0.019%	$357K	$4.6M	10x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2097	long leg	$182K	$3.0M	10x
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.480%	$684	$808K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2093	−0.172%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.129%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2092	−0.219%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2093	−0.193%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.092%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2095	−0.075%	$2.7M	$5.8M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2095	−0.059%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0238%	1h	0.2096	−0.019%	$111.3M	$80.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.095%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.098%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.200%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8497%	1h	0.2095	−0.060%	$138K	$12K	5x	as long as short