Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Arcus0.000%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$410.413% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now 0.000%, 7d avg −0.031%

Together, before fees+0.130%+$13 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: Binance is 0.031% dearer against Arcus than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2108	0.0100	pay 0.0013% / 1h	28m 42s	$78K	$276K	10x
Short	Binance ENAUSDT	0.2108	0.0100	get 0.0050% / 4h	3h 28m	$127.9M	$413.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.031%: $3.12
Slippage, 4 orders: −$26.82
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.2
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from Arcus: live order book, 25 min ago; Binance: live order book, 15 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 Arcus live order book, 25 min ago	4.72 bp	16.7 bp −$17	28.4 bp −$284	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.24 bp	7.8 bp −$8	16.4 bp −$164	48.0 bp −$4,801	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	−0.0106%	1h	0.2107	−0.028%	$359K	$403K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0102%	4h	0.2105	−0.119%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2107	−0.071%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.072%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.731%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0048%	1h	0.2107	−0.028%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	−0.095%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.077%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2106	−0.081%	$655K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2109	+0.029%	$1.5M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2108	+0.014%	$401K	$513K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2108	0.000%	$127.9M	$413.4M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.052%	$85.2M	$174.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	−0.066%	$21.0M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.398%	$22K	$332K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2108	long leg	$78K	$276K	10x
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.474%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2108	−0.019%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	−0.028%	$45.7M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	+0.028%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2105	−0.119%	$47.8M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2108	−0.009%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	+0.066%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	−0.127%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	+0.048%	$354K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2109	+0.047%	$20K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2107	−0.028%	$192K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.443%	$986	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2107	−0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2113	+0.232%	$273K	$789K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	−0.095%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2107	−0.070%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2106	−0.089%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2111	+0.133%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2107	−0.027%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2110	+0.100%	$5.2M	$13.3M	10x	as long as short
Hyperliquid ENA	+0.0237%	1h	0.2110	+0.109%	$114.7M	$74.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2107	−0.057%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	−0.076%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2106	−0.097%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2114	+0.308%	$865K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1060%	1h	0.2107	−0.070%	$139K	$15K	5x	as long as short