Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Polymarket Perps against BloFin+0.057%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.673%−$67 on $10k

Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.057%, 7d avg −0.038%

Together, before fees−0.823%−$82 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.095% dearer against BloFin than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.038%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2094	0.0340	pay 0.0170% / 4h	36m 55s	$5.6M	$3.3M	75x
Short	Polymarket Perps ENA-USD	0.2095	0.0100	get 0.0013% / 1h	36m 55s	$185K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$50.4
Price spread: +0.057% → −0.038%: $9.51
Slippage, 4 orders: −$10.19
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$71.08
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Polymarket Perps: live order book, 7 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 BloFin live order book, 2 min ago	0.24 bp	7.7 bp −$8	14.8 bp −$148	69.1 bp −$6,909	doesn't fit
Sell Polymarket Perps live order book, 7 min ago	2.60 bp	8.0 bp −$8	8.9 bp −$89	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	−0.0095%	4h	0.2094	+0.014%	$43K	$17K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2095	+0.024%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.048%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2095	+0.031%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.399%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2097	+0.148%	$4.9M	$13.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.005%	$55K	$478K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	+0.135%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2095	+0.029%	$557K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2098	+0.172%	$113.8M	$74.9M	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	0.2097	+0.144%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	+0.153%	$404K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2097	+0.134%	$127.4M	$425.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	+0.062%	$89.7M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2096	+0.110%	$21.0M	$106.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	+0.640%	$38K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	+0.091%	$77K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	+0.077%	$91K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	+0.143%	$12.7M	$27.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	+0.153%	$39.1M	$42.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	+0.201%	$24.7M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2096	+0.072%	$47.6M	$59.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2097	+0.143%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2098	+0.181%	$406K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2106	+0.580%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2099	+0.227%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.272%	$362K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2109	+0.712%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2095	+0.057%	$185K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.240%	$1K	$905K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	+0.043%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.244%	$264K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	+0.043%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2096	+0.095%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	+0.032%	$73K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0150%	1h	0.2096	+0.076%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2108	+0.683%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2094	+0.016%	$58K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2094	long leg	$5.6M	$3.3M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.006%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2099	+0.258%	$868K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0803%	1h	0.2096	+0.105%	$138K	$16K	5x	as long as short