Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Polymarket Perps−0.051%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.216%+$22 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.051%, 7d avg −0.019%

Together, before fees+0.193%+$19 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 0.032% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2159	0.0100	pay 0.0013% / 1h	11m 20s	$180K	$2.4M	10x
Short	MEXC ENA_USDT	0.2158	0.0100	get 0.0050% / 4h	3h 11m	$45.7M	$44.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → −0.019%: −$3.24
Slippage, 4 orders: −$10.27
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$21.51
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; MEXC: live order book, 3 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	2.78 bp	7.7 bp −$8	8.8 bp −$88	12512.0 bp −$1.25M	doesn't fit
Sell MEXC live order book, 3 min ago	0.23 bp	1.9 bp −$2	8.0 bp −$80	48.1 bp −$4,815	83.3 bp −$41.6K

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	0.2161	+0.065%	$81K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2159	−0.035%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2157	−0.116%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.667%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2159	−0.019%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2158	−0.056%	$713K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2160	+0.033%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2160	+0.008%	$425K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2159	−0.040%	$134.7M	$442.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2157	−0.093%	$88.8M	$186.4M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2157	−0.088%	$21.2M	$110.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2159	−0.028%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2161	+0.074%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.431%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2159	−0.032%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2158	−0.051%	$45.7M	$44.8M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2160	+0.019%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2156	−0.153%	$48.8M	$61.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2158	−0.069%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2161	+0.060%	$384K	$395K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2158	−0.079%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	−0.031%	$250K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2161	+0.074%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2159	−0.019%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2159	long leg	$180K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2107	−2.427%	$1K	$834K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2160	+0.028%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2160	+0.032%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2159	−0.019%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2157	−0.098%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2158	−0.081%	$75K	$4K	3x	as long as short
dYdX ENA-USD	+0.0128%	1h	0.2160	+0.019%	$143K	$15K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2162	+0.116%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2161	+0.056%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2162	+0.122%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2158	−0.060%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	−0.063%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2160	+0.051%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2158	−0.076%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2165	+0.250%	$857K	$1.8M	50x	as long as short
Lighter ENA	+0.0752%	1h	0.2162	+0.120%	$5.9M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0786%	1h	0.2163	+0.167%	$117.7M	$74.8M	10x	as long as short