Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Polymarket Perps−0.029%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Polymarket Perps Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.029%, 7d avg −0.062%

Together, before fees+0.175%+ Points / potential airdropPacifica: Active · farm board+$17 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: Pacifica is 0.033% dearer against Polymarket Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2098	0.0100	pay 0.0013% / 1h	40m 32s	$188K	$2.8M	10x
Short	Pacifica ENA	0.2098	0.0100	get 0.0013% / 1h	40m 32s	$406K	$582K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → −0.062%: $3.25
Slippage, 4 orders: −$17.42
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$30.17
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Pacifica: live order book, 43 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	2.62 bp	7.6 bp −$8	9.0 bp −$90	11956.2 bp −$1.20M	doesn't fit
Sell Pacifica live order book, 43 min ago	1.42 bp	10.9 bp −$11	doesn't fit	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	−0.0067%	4h	0.2097	−0.067%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0045%	1h	0.2099	+0.010%	$362K	$481K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.029%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	−0.018%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.191%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2099	+0.005%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2099	+0.005%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.067%	$59K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.071%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.081%	$659K	$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	0.2099	+0.040%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2098	−0.029%	$406K	$582K	10x
Binance ENAUSDT	+0.0100%	4h	0.2098	−0.043%	$129.2M	$460.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	−0.081%	$87.2M	$191.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	−0.019%	$20.3M	$112.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	−0.014%	$21K	$415K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	−0.019%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.026%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	−0.062%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2098	−0.038%	$45.0M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	−0.033%	$24.0M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2096	−0.100%	$47.5M	$65.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2097	−0.043%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.450%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.026%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.156%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.114%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2098	long leg	$188K	$2.8M	10x
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.430%	$958	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	−0.019%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2107	+0.405%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.067%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.155%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2099	+0.029%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0225% / S −0.0375%	1h	0.2098	−0.021%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0280%	1h	0.2097	−0.060%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.062%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.038%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0488%	1h	0.2100	+0.081%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0569%	1h	0.2101	+0.143%	$111.0M	$80.0M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2102	+0.157%	$803K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1904%	1h	0.2098	−0.042%	$139K	$15K	5x	as long as short