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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Polymarket Perps−0.157%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Polymarket Perps Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.223%+$22 on $10k

Price spread, last 4 days (all we have)−0.233%−$23 · spread now −0.157%, 7d avg −0.059%

Together, before fees−0.010%+ Points / potential airdropPacifica: Active · farm board−$1 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: Pacifica is 0.097% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2131	0.0100	pay 0.0013% / 1h	2m 07s	$184K	$2.3M	10x
Short	Pacifica ENA	0.2127	0.0100	get 0.0013% / 1h	2m 07s	$416K	$530K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → −0.059%: −$9.73
Slippage, 4 orders: −$16.92
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$42.65
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 7 min ago; Pacifica: 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, 7 min ago	2.14 bp	7.5 bp −$8	10.0 bp −$100	12365.5 bp −$1.24M	doesn't fit
Sell Pacifica live order book, 2 min ago	1.41 bp	9.6 bp −$10	doesn't fit	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	0.2130	−0.023%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2130	−0.023%	$87K	—	150x	as long as short
dYdX ENA-USD	+0.0011%	1h	0.2127	−0.196%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.347%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2128	−0.113%	$44K	$27K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2130	−0.038%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.052%	$684K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2130	−0.024%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2127	−0.157%	$416K	$530K	10x
Binance ENAUSDT	+0.0100%	4h	0.2130	−0.050%	$131.0M	$431.2M	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	0.2129	−0.066%	$87.2M	$180.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2129	−0.108%	$20.9M	$105.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2116	−0.699%	$19K	$382K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2128	−0.131%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−1.000%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	−0.061%	$11.1M	$22.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2130	−0.056%	$45.2M	$44.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2131	+0.028%	$24.7M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2127	−0.155%	$48.4M	$59.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2129	−0.075%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2131	+0.009%	$384K	$370K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.780%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−1.167%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	−0.881%	$359K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−1.164%	$32K	$650K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2131	long leg	$184K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2080	−2.365%	$962	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2129	−0.084%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.169%	$278K	$803K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2130	−0.038%	$1.9M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	−0.140%	$48K	$110	10x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2129	−0.094%	$4K	$302	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	−0.008%	$75K	$4K	3x	as long as short
Extended ENA-USD	+0.0160%	1h	0.2129	−0.095%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.676%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2131	+0.008%	$2.7M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2130	−0.042%	$51K	—	100x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2130	−0.019%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0440%	1h	0.2132	+0.033%	$5.5M	$13.8M	10x	as long as short
Hyperliquid ENA	+0.0466%	1h	0.2131	+0.019%	$114.6M	$71.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2137	+0.268%	$840K	$1.6M	50x	as long as short