Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against edgeX−0.035%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on edgeX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.239%−$24 on $10k

Price spread, last 7 days+0.124%+$12 · spread now −0.035%, 7d avg +0.031%

Together, before fees−0.114%+ Points / potential airdropedgeX: Active · farm board−$11 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: Polymarket Perps is 0.067% cheaper against edgeX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2119	0.0100	pay 0.0050% / 4h	1h 53m	$247K	$7.4M	20x
Short	Polymarket Perps ENA-USD	0.2118	0.0100	get 0.0013% / 1h	53m 14s	$182K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against edgeX. 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 edgeXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → +0.031%: −$6.69
Slippage, 4 orders: −$19.35
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$43.04
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Polymarket Perps: live order book, 6 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 edgeX live order book, 1 min ago	7.09 bp	11.6 bp −$12	13.1 bp −$131	44.0 bp −$4,396	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	2.12 bp	6.6 bp −$7	7.9 bp −$79	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2123	+0.219%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2121	+0.134%	$87K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0024%	4h	0.2122	+0.172%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2119	−0.002%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.224%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0049%	1h	0.2118	−0.041%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	−0.078%	$54K	$500K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	−0.092%	$683K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2119	+0.015%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	−0.078%	$414K	$519K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2122	+0.179%	$130.6M	$426.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2122	+0.158%	$86.8M	$177.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.182%	$20.8M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2121	+0.092%	$19K	$383K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	−0.031%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.078%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	+0.087%	$11.1M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2123	+0.196%	$45.6M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	+0.257%	$24.7M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	+0.196%	$48.4M	$58.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	+0.248%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	+0.441%	$3.8M	$9.9M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2119	long leg	$247K	$7.4M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.211%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.172%	$32K	$646K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2118	−0.035%	$182K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2066	−2.476%	$926	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	+0.158%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2127	+0.375%	$277K	$786K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2122	+0.158%	$1.9M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.055%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	+0.159%	$74K	$4K	3x	as long as short
Hyperliquid ENA	+0.0109%	1h	0.2120	+0.073%	$114.0M	$71.1M	10x	as long as short
Extended ENA-USD	+0.0136%	1h	0.2122	+0.136%	$1.6M	$4.1M	50x	as long as short
Lighter ENA	+0.0144%	1h	0.2125	+0.300%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	−0.002%	$8K	$298K	10x	as long as short
Backpack ENA_USDC_PERP	+0.0229%	1h	0.2123	+0.224%	$376K	$362K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2122	+0.138%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2123	+0.225%	$2.7M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.053%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.597%	$838K	$1.6M	50x	as long as short