Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Arcus+0.052%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.052%, 7d avg −0.029%

Together, before fees−0.004%$0 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: Binance is 0.082% dearer against Arcus than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2102	0.0100	pay 0.0013% / 1h	19m 59s	$78K	$283K	10x
Short	Binance ENAUSDT	0.2103	0.0100	get 0.0050% / 4h	19m 59s	$128.0M	$425.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → −0.029%: $8.15
Slippage, 4 orders: −$26.09
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$32.44
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Arcus: live order book, 18 min ago; Binance: live order book, 9 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 Arcus live order book, 18 min ago	9.53 bp	12.5 bp −$13	23.9 bp −$239	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.24 bp	8.9 bp −$9	16.2 bp −$162	51.2 bp −$5,118	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	−0.0089%	4h	0.2102	−0.010%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	+0.033%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2102	+0.021%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2103	+0.029%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.018%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	0.000%	$52K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	−0.018%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2102	+0.002%	$562K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2104	+0.105%	$114.1M	$74.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2103	+0.051%	$1.4M	$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 ENA	+0.0100%	1h	0.2101	−0.052%	$405K	$563K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2103	+0.052%	$128.0M	$425.3M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2102	0.000%	$90.2M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2103	+0.067%	$21.0M	$106.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.428%	$33K	$320K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2102	long leg	$78K	$283K	10x
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.337%	$91K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2103	+0.029%	$12.7M	$27.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2103	+0.029%	$39.1M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	+0.029%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2101	−0.029%	$47.7M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2102	+0.010%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2104	+0.090%	$407K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.220%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	−0.310%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.333%	$351K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	−0.143%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2103	+0.048%	$181K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.422%	$1K	$908K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	0.000%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2104	+0.095%	$265K	$814K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	0.000%	$1.8M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2104	+0.095%	$5.0M	$13.9M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2102	+0.019%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2103	+0.028%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2103	+0.054%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2094	−0.362%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2102	+0.023%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	−0.152%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2101	−0.064%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2098	−0.195%	$867K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.1007%	1h	0.2100	−0.073%	$139K	$16K	5x	as long as short