Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Polymarket Perps−2.555%7-day average −2.406% · you buy dearer than you sell

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

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.235%+$23 on $10k

Price spread, last 4 days (all we have)+0.403%+$40 · spread now −2.555%, 7d avg −2.406%

Together, before fees+0.638%+$64 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: SunX is 0.149% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −2.406%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2106	0.0100	pay 0.0013% / 1h	49m 45s	$189K	$2.4M	10x
Short	SunX ENA-USDT	0.2052	0.0100	get 0.0050% / 4h	2h 49m	$1K	$867K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.555%Rate

Funding earned: $0
Price spread: −2.555% → −2.406%: −$14.87
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$30.87
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 4 min ago; SunX: live order book, 23 min ago. 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 Polymarket Perps live order book, 4 min ago	2.39 bp	7.8 bp −$8	8.2 bp −$82	11413.4 bp −$1.14M	doesn't fit
Sell SunX live order book, 23 min ago	258.76 bp	doesn't fit	doesn't fit	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
ApeX Omni ENAUSDT	−0.0500%	1h	0.2097	−0.423%	$20K	$649K	50x	as long as short
Orderly PERP_ENA_USDC	−0.0138%	4h	0.2104	−0.100%	$44K	$25K	10x	as long as short
Gate ENA_USDT	−0.0066%	4h	0.2101	−0.247%	$10.9M	$23.4M	50x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2105	−0.019%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2104	−0.085%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.006%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.831%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	−0.043%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2103	−0.149%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	−0.059%	$653K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2104	−0.114%	$113.8M	$74.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	−0.086%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2103	−0.131%	$395K	$522K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.123%	$127.8M	$416.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.123%	$85.3M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.114%	$21.1M	$103.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2099	−0.337%	$22K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2102	−0.185%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	−0.447%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2103	−0.133%	$45.4M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	−0.071%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2102	−0.180%	$47.8M	$57.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2103	−0.142%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2102	−0.196%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.603%	$238K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	−0.483%	$354K	$5.0M	10x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2106	long leg	$189K	$2.4M	10x
SunX ENA-USDTshort	+0.0100%	4h	0.2052	−2.555%	$1K	$867K	20x
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.138%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	+0.095%	$274K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.185%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.231%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.099%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2094	−0.589%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2105	−0.043%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0256%	1h	0.2105	−0.062%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2106	+0.006%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	−0.128%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	−0.026%	$1K	$5K	15x	as long as short
dYdX ENA-USD	+0.0469%	1h	0.2102	−0.188%	$139K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0553%	1h	0.2103	−0.157%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.280%	$860K	$1.7M	50x	as long as short