Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against Pacifica−0.017%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Pacifica Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.017%, 7d avg +0.028%

Together, before fees−0.061%+ Points / potential airdropPacifica: Active · farm board−$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 0.045% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2125	0.0100	pay 0.0013% / 1h	42m 41s	$411K	$567K	10x
Short	Arcus ENA-USD	0.2125	0.0100	get 0.0013% / 1h	42m 41s	$84K	$221K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Pacifica. 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 PacificabpFee ArcusbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.028%: −$4.48
Slippage, 4 orders: −$27.5
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$44.48
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Pacifica: live order book, 36 min ago; Arcus: live order book, 36 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 Pacifica live order book, 36 min ago	1.43 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 36 min ago	7.16 bp	10.2 bp −$10	24.4 bp −$244	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	−0.0026%	4h	0.2124	−0.078%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	−0.003%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2125	−0.001%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.092%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0094%	1h	0.2126	+0.044%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2123	−0.111%	$63K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.048%	$686K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	+0.041%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2125	long leg	$411K	$567K	10x
Binance ENAUSDT	+0.0100%	4h	0.2126	+0.008%	$131.4M	$455.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2124	−0.069%	$89.1M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	−0.050%	$20.6M	$112.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2126	+0.011%	$15K	$400K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2125	−0.017%	$84K	$221K	10x
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.005%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	−0.012%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.017%	$46.9M	$45.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.030%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.092%	$48.1M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	−0.036%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.011%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	0.000%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	−0.011%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.030%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	−0.008%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.440%	$669	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.017%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.218%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	−0.017%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.066%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	−0.025%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.176%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	−0.069%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	+0.022%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	−0.014%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	−0.036%	$5.6M	$7.0M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2124	−0.086%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	−0.037%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.430%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0640%	1h	0.2127	+0.077%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0857%	1h	0.2129	+0.181%	$114.4M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1749%	1h	0.2127	+0.058%	$140K	$15K	5x	as long as short