Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Aster against Polymarket Perps−0.041%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Polymarket Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.361%+$36 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.041%, 7d avg −0.001%

Together, before fees+0.377%+ Points / potential airdropAster: Stage 5 · farm board+$38 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: Aster is 0.040% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2091	0.0100	pay 0.0013% / 1h	26m 15s	$182K	$2.7M	10x
Short	Aster ENAUSDT	0.2090	0.0100	get 0.0050% / 4h	1h 26m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Polymarket Perps. 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 Polymarket PerpsbpFee AsterbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.001%: −$3.96
Slippage, 4 orders: −$18.28
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$38.24
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Aster: live order book, 2 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 Polymarket Perps live order book, 3 min ago	1.91 bp	7.8 bp −$8	9.9 bp −$99	12393.9 bp −$1.24M	doesn't fit
Sell Aster live order book, 2 min ago	2.63 bp	11.8 bp −$12	18.2 bp −$182	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
Backpack ENA_USDC_PERP	−0.0088%	1h	0.2091	+0.010%	$361K	$454K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0057%	4h	0.2090	−0.053%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.010%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.017%	$100K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.549%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2091	0.000%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2089	−0.096%	$61K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	−0.088%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2089	−0.077%	$657K	$1.8M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2090	−0.041%	$1.5M	$3.3M	50x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2090	−0.037%	$404K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2090	−0.059%	$128.8M	$457.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.120%	$86.8M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2089	−0.077%	$20.1M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2092	+0.029%	$15K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2090	−0.048%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.120%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2091	−0.024%	$10.4M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2089	−0.072%	$45.2M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	−0.019%	$23.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2088	−0.143%	$47.2M	$65.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.029%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2090	−0.063%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.012%	$248K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2092	+0.048%	$360K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	+0.048%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2091	long leg	$182K	$2.7M	10x
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.429%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2090	−0.048%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2092	+0.053%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	−0.096%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.024%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	−0.019%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0120%	1h	0.2091	−0.014%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0235% / S −0.0398%	1h	0.2090	−0.026%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0304%	1h	0.2089	−0.084%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	−0.043%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.049%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2092	+0.062%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0575%	1h	0.2094	+0.129%	$110.6M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2092	+0.048%	$804K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1938%	1h	0.2090	−0.035%	$138K	$15K	5x	as long as short