Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against MEXC+0.057%7-day average +0.034% · 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−$26as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on MEXC Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.057%, 7d avg +0.034%

Together, before fees−0.061%−$6 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: Arcus is 0.022% dearer against MEXC than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2121	0.0100	pay 0.0050% / 4h	1h 13m	$37.8M	$43.1M	200x
Short	Arcus ENA-USD	0.2122	0.0100	get 0.0013% / 1h	13m 29s	$78K	$281K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against MEXC. 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 MEXCbpFee ArcusbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.034%: $2.21
Slippage, 4 orders: −$23.41
Fee MEXC: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$25.7
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Arcus: live order book, 30 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 MEXC live order book, 5 min ago	0.23 bp	2.5 bp −$3	6.8 bp −$68	40.9 bp −$4,089	70.2 bp −$35.1K
Sell Arcus live order book, 30 min ago	2.33 bp	5.5 bp −$6	19.3 bp −$193	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	−0.0105%	4h	0.2120	−0.028%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.179%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	+0.156%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2123	+0.118%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.123%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	+0.057%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	+0.081%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2122	+0.045%	$563K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2124	+0.141%	$115.0M	$76.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	+0.079%	$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	0.2123	+0.109%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2121	+0.015%	$128.4M	$427.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.066%	$90.9M	$187.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	+0.009%	$21.2M	$108.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.104%	$33K	$330K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2122	+0.057%	$78K	$281K	10x
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.346%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	+0.033%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2121	long leg	$37.8M	$43.1M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.071%	$24.8M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.113%	$48.0M	$59.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2121	−0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.015%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2122	+0.074%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.151%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.151%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	+0.085%	$185K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.221%	$1K	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.151%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.250%	$267K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	+0.151%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2121	+0.028%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.174%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2125	+0.217%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0184%	1h	0.2124	+0.174%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USD	+0.0227%	1h	0.2124	+0.130%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2121	−0.008%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	+0.146%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0381%	1h	0.2125	+0.198%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.097%	$1K	$3K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2125	+0.204%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.693%	$881K	$1.8M	50x	as long as short