Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Arcus+0.105%114s7-day average −0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$430.432% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.381%+$38 · spread now +0.105%, 7d avg −0.005%

Together, before fees+0.384%+ Points / potential airdropedgeX: Active · farm board+$38 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: edgeX is 0.111% dearer against Arcus than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 114 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2116	0.0100	pay 0.0013% / 1h	27m 47s	$77K	$283K	10x
Short	edgeX ENAUSDC	0.2118	0.0100	get 0.0050% / 4h	3h 27m	$246K	$7.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.105%Rate

Funding earned: $0
Price spread: +0.105% → −0.005%: $11.09
Slippage, 4 orders: −$29.72
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$32.12
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from Arcus: live order book, 6 min ago; edgeX: 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 Arcus live order book, 6 min ago	4.70 bp	12.2 bp −$12	25.0 bp −$250	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	7.09 bp	11.6 bp −$12	13.1 bp −$131	44.2 bp −$4,417	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
01 Exchange ENAUSD	−0.0112%	1h	0.2113	−0.151%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0101%	4h	0.2117	+0.028%	$44K	$16K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2118	+0.095%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	0.000%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.321%	$734	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0036%	4h	0.2118	+0.099%	$13.2M	$27.7M	50x	as long as short
Bitget ENAUSDT	+0.0090%	4h	0.2115	−0.043%	$47.9M	$61.1M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2120	+0.198%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.189%	$54K	$499K	50x	as long as short
Paradex ENA-USD-PERP	+0.0099%	8h	0.2116	−0.012%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2115	−0.040%	$559K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	+0.180%	$115.2M	$76.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2119	+0.159%	$1.4M	$3.4M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	+0.120%	$407K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	+0.057%	$127.7M	$431.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	0.000%	$88.1M	$194.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+0.043%	$20.9M	$108.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	−0.090%	$28K	$326K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2116	long leg	$77K	$283K	10x
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.163%	$92K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.090%	$40.9M	$43.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.165%	$24.9M	$16.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2116	+0.014%	—	$31.1M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2119	+0.156%	$410K	$480K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.090%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2118	+0.105%	$246K	$7.1M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.005%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.047%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	0.000%	$174K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.278%	$1K	$930K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	+0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.198%	$264K	$843K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	+0.189%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2119	+0.140%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.126%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0115%	1h	0.2120	+0.167%	$140K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2118	+0.085%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0197%	1h	0.2119	+0.119%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2116	−0.003%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2118	+0.080%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2115	−0.037%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2117	+0.038%	$784K	$2.0M	50x	as long as short