Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Pacifica against Bitget+0.032%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.095%+$9 · spread now +0.032%, 7d avg +0.073%

Together, before fees+0.093%+ Points / potential airdropPacifica: Active · farm board+$9 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 0.041% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2172	0.0100	pay 0.0050% / 4h	2h 16m	$49.4M	$58.3M	75x
Short	Pacifica ENA	0.2172	0.0100	get 0.0013% / 1h	16m 21s	$408K	$528K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bitget. 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 BitgetbpFee PacificabpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.073%: −$4.11
Slippage, 4 orders: −$23.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$48.04
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Pacifica: live order book, 32 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 Bitget live order book, 3 min ago	1.38 bp	12.3 bp −$12	17.9 bp −$179	53.2 bp −$5,316	doesn't fit
Sell Pacifica live order book, 32 min ago	1.66 bp	8.0 bp −$8	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	−0.0139%	4h	0.2172	+0.023%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2173	+0.064%	$70K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0003%	4h	0.2174	+0.115%	$1.8M	$8.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2174	+0.137%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.215%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2173	+0.055%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2174	+0.115%	$53K	$475K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2176	+0.228%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2179	+0.359%	$118.1M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2176	+0.215%	$1.5M	$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 ENAshort	+0.0100%	1h	0.2172	+0.032%	$408K	$528K	10x
Binance ENAUSDT	+0.0100%	4h	0.2175	+0.153%	$132.1M	$422.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2173	+0.083%	$87.6M	$177.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2173	+0.055%	$21.7M	$108.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2149	−1.032%	$21K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2173	+0.069%	$81K	$280K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2175	+0.161%	$11.5M	$24.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2178	+0.295%	$47.8M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2176	+0.193%	$25.4M	$15.7M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2172	long leg	$49.4M	$58.3M	75x
BingX ENA-USDC	+0.0100%	4h	0.2175	+0.138%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−1.475%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2142	−1.357%	$246K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2163	−0.372%	$362K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2164	−0.345%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2178	+0.281%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2119	−2.399%	$1K	$882K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2174	+0.115%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2185	+0.622%	$274K	$805K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−1.842%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2172	+0.003%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2171	−0.015%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2174	+0.099%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	+0.124%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2175	+0.172%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0249%	1h	0.2171	−0.017%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0264%	1h	0.2175	+0.143%	$5.3M	$13.2M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2174	+0.115%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	+0.009%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2177	+0.258%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0659%	1h	0.2174	+0.129%	$366K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2173	+0.060%	$891K	$1.8M	50x	as long as short