Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against Pacifica+0.056%7-day average +0.036% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.232%−$23 · spread now +0.056%, 7d avg +0.036%

Together, before fees−0.221%+ Points / potential airdropPacifica: Active · Ondo Perps: Active · farm board−$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2094	0.0100	pay 0.0013% / 1h	15m 09s	$405K	$576K	10x
Short	Ondo Perps ENA-USD.P	0.2095	0.0100	get 0.0013% / 1h	15m 09s	$15K	$396K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.036%: $1.98
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$11.02
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 4 min ago	1.43 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0047%	4h	0.2094	+0.018%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0041%	1h	0.2098	+0.204%	$370K	$448K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	+0.037%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2094	+0.031%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.427%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2098	+0.206%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	+0.022%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2093	−0.017%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2093	−0.021%	$659K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2097	+0.142%	$1.5M	$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 ENAlong	+0.0100%	1h	0.2094	long leg	$405K	$576K	10x
Binance ENAUSDT	+0.0100%	4h	0.2097	+0.162%	$129.4M	$455.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	+0.166%	$87.2M	$190.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2097	+0.175%	$20.2M	$111.2M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2095	+0.056%	$15K	$396K	5x
Arcus ENA-USD	+0.0100%	1h	0.2094	+0.022%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	+0.055%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	+0.142%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	+0.142%	$46.5M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.080%	$23.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2095	+0.080%	$47.4M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2096	+0.137%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.117%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.042%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.047%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.073%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2094	+0.046%	$177K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2043	−2.418%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	+0.118%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.113%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	+0.118%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	+0.043%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	+0.185%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2095	+0.075%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0241% / S −0.0415%	1h	0.2094	+0.016%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2093	−0.003%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.171%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.004%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0512%	1h	0.2099	+0.266%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.314%	$827K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2100	+0.314%	$110.9M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1971%	1h	0.2093	−0.038%	$138K	$15K	5x	as long as short