Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Bitget against Pacifica−0.274%52s7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.416% of the position

Long on Pacifica Short on Bitget

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)+0.155%+$16 · spread now −0.274%, 7d avg −0.074%

Together, before fees+0.158%+ Points / potential airdropPacifica: Active · farm board+$16 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: Bitget is 0.201% cheaper against Pacifica than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.074%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2135	0.0100	pay 0.0013% / 1h	25m 46s	$418K	$544K	10x
Short	Bitget ENAUSDT	0.2129	0.0100	get 0.0050% / 4h	2h 25m	$48.5M	$61.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.274%Rate

Funding earned: $0
Price spread: −0.274% → −0.074%: −$20.09
Slippage, 4 orders: −$21.61
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$61.7
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Pacifica: live order book, 43 min ago; Bitget: live order book, 3 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, 43 min ago	1.38 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.93 bp	10.9 bp −$11	16.8 bp −$168	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	0.2135	−0.012%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2134	−0.059%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0015%	1h	0.2134	−0.046%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.555%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0038%	4h	0.2134	−0.059%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2135	+0.007%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2134	−0.059%	$56K	$521K	50x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2135	−0.016%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2135	long leg	$418K	$544K	10x
Binance ENAUSDT	+0.0100%	4h	0.2132	−0.175%	$131.9M	$445.0M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2130	−0.223%	$87.5M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2130	−0.232%	$20.9M	$108.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2138	+0.114%	$19K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2135	−0.012%	$116K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2135	−0.036%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2131	−0.195%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	−0.190%	$45.4M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2135	−0.007%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2129	−0.274%	$48.5M	$61.3M	75x
BingX ENA-USDT	+0.0100%	4h	0.2131	−0.214%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2136	+0.039%	$382K	$394K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	−0.078%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.646%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	+0.466%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2144	+0.409%	$32K	$656K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2133	−0.104%	$688K	$1.8M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2135	−0.036%	$185K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2083	−2.429%	$1K	$853K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2136	+0.035%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.035%	$275K	$877K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2134	−0.059%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2133	−0.115%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2135	−0.028%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2147	+0.564%	$8K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2132	−0.146%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2137	+0.098%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2133	−0.098%	$51K	—	100x	as long as short
Lighter ENA	+0.0368%	1h	0.2139	+0.161%	$5.6M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2134	−0.066%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0511%	1h	0.2133	−0.101%	$115.4M	$73.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2140	+0.231%	$838K	$1.8M	50x	as long as short