Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Binance+0.109%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 7 days−0.168%−$17 · spread now +0.109%, 7d avg +0.010%

Together, before fees−0.382%−$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: Polymarket Perps is 0.099% dearer against Binance than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2139	0.0100	pay 0.0050% / 4h	3h 37m	$130.1M	$432.2M	75x
Short	Polymarket Perps ENA-USD	0.2142	0.0100	get 0.0013% / 1h	37m 59s	$176K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now +0.109%Rate

Funding earned: $0
Price spread: +0.109% → +0.010%: $9.86
Slippage, 4 orders: −$13.19
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.33
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Polymarket Perps: live order book, 26 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 Binance live order book, 6 min ago	0.23 bp	8.8 bp −$9	15.7 bp −$157	59.5 bp −$5,955	doesn't fit
Sell Polymarket Perps live order book, 26 min ago	2.84 bp	6.8 bp −$7	7.3 bp −$73	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
Orderly PERP_ENA_USDC	−0.0094%	4h	0.2139	−0.036%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0088%	1h	0.2140	+0.034%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2140	+0.038%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2140	+0.024%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.752%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0085%	1h	0.2140	+0.013%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2142	+0.109%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2139	−0.022%	$52K	$493K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2137	−0.113%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2140	+0.022%	$566K	$1.8M	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	0.2141	+0.071%	$116.7M	$76.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2140	+0.002%	$1.4M	$3.4M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2139	−0.032%	$410K	$569K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2139	long leg	$130.1M	$432.2M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2139	−0.032%	$88.9M	$194.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2139	−0.008%	$21.1M	$110.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2137	−0.111%	$28K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2140	+0.024%	$79K	$282K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2140	+0.024%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2139	−0.022%	$13.3M	$27.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2140	+0.029%	$40.9M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2141	+0.057%	$25.2M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2137	−0.116%	$48.4M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2139	−0.027%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−0.027%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2142	+0.108%	$255K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2152	+0.568%	$359K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2140	+0.024%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2142	+0.109%	$176K	$2.7M	10x
SunX ENA-USDT	+0.0100%	4h	0.2090	−2.317%	$1K	$928K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	−0.022%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2145	+0.272%	$266K	$837K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2141	+0.071%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2138	−0.055%	$1.6M	$4.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	+0.024%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2146	+0.310%	$14K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2139	0.000%	$2.6M	$4.4M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0261%	1h	0.2141	+0.062%	$416K	$478K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0754%	1h	0.2140	+0.016%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2137	−0.121%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	+0.006%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2140	+0.029%	$795K	$2.0M	50x	as long as short