Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against BingX+0.114%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$290.285% of the position

Long on BingX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 7 days−0.201%−$20 · spread now +0.114%, 7d avg +0.030%

Together, before fees−0.428%−$43 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 0.084% dearer against BingX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDT	0.2112	0.0100	pay 0.0050% / 4h	2h 18m	—	$30.4M	—
Short	Polymarket Perps ENA-USD	0.2114	0.0100	get 0.0013% / 1h	18m 55s	$167K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BingX. 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 BingXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.030%: $8.38
Slippage, 4 orders: −$10.51
Fee BingX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$20.13
Costs to cover: 0.285%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Polymarket Perps: live order book, 3 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 BingX live order book, 13 min ago	0.95 bp	7.0 bp −$7	9.3 bp −$93	16.7 bp −$1,674	38.0 bp −$19.0K
Sell Polymarket Perps live order book, 3 min ago	3.55 bp	7.5 bp −$8	15.8 bp −$158	doesn't fit	doesn't fit

ENA on 42 exchanges

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
Kraken Futures PF_ENAUSD	−0.0243%	1h	0.2114	+0.108%	$2.6M	$4.2M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0169%	4h	0.2114	+0.085%	$44K	$14K	10x	as long as short
01 Exchange ENAUSD	−0.0152%	1h	0.2112	+0.014%	$4K	$169	10x	as long as short
Bitget ENAUSDT	−0.0028%	4h	0.2111	−0.066%	$47.6M	$58.7M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2115	+0.156%	$90K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2114	+0.090%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0026%	1h	0.2122	+0.464%	$734	$57K	5.5x	as long as short
Bybit ENAUSDT	+0.0084%	4h	0.2111	−0.033%	$86.1M	$187.8M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2116	+0.175%	$5.0M	$12.9M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.005%	$56K	$391K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.018%	$47K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	+0.036%	$591K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2114	+0.085%	$113.6M	$78.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2113	+0.041%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2112	−0.028%	$390K	$540K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2113	+0.029%	$127.4M	$415.6M	75x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2112	+0.014%	$21.0M	$103.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	+0.071%	$33K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2113	+0.043%	$79K	$239K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.147%	$103K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2114	+0.080%	$13.7M	$27.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2113	+0.038%	$42.2M	$43.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	+0.166%	$25.0M	$15.8M	75x	as long as short
BingX ENA-USDTlong	+0.0100%	4h	0.2112	long leg	—	$30.4M	—
Variational Omni ENA	+0.0100%	4h	0.2108	−0.179%	$3.0M	$8.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	−0.022%	$245K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	−0.147%	$362K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	−0.052%	$19K	$644K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2114	+0.114%	$167K	$2.7M	10x
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.296%	$1K	$924K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	+0.090%	$6K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2116	+0.185%	$264K	$827K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2113	+0.043%	$1.9M	$9.0M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2112	−0.028%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	+0.118%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0112%	1h	0.2113	+0.024%	$13K	$306K	10x	as long as short
dYdX ENA-USD	+0.0145%	1h	0.2114	+0.103%	$140K	$15K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0756%	1h	0.2114	+0.114%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2113	+0.062%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2111	−0.040%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0496%	1h	0.2119	+0.317%	$771K	$2.0M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0521%	1h	0.2114	+0.114%	$410K	$482K	5x	as long as short