Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Pacifica against BloFin+0.111%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$450.445% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.460%−$46 on $10k

Price spread, last 4 days (all we have)−0.332%−$33 · spread now +0.111%, 7d avg −0.065%

Together, before fees−0.792%+ Points / potential airdropPacifica: Active · farm board−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.176% dearer against BloFin than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of −0.065%): +$18 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2112	0.0340	pay 0.0170% / 4h	1h 05m	$5.6M	$3.3M	75x
Short	Pacifica ENA	0.2114	0.0100	get 0.0013% / 1h	5m 50s	$400K	$542K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BloFin. 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 BloFinbpFee PacificabpOrdersPrice spread, now +0.111%Rate

Funding earned: −$50.4
Price spread: +0.111% → −0.065%: $17.63
Slippage, 4 orders: −$24.51
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$77.28
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Pacifica: live order book, 38 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 BloFin live order book, 3 min ago	5.21 bp	13.1 bp −$13	20.1 bp −$201	65.8 bp −$6,584	doesn't fit
Sell Pacifica live order book, 38 min ago	2.33 bp	11.6 bp −$12	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
Orderly PERP_ENA_USDC	−0.0100%	4h	0.2114	+0.080%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2115	+0.137%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	+0.133%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2116	+0.199%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.535%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+0.137%	$55K	$481K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	+0.069%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	+0.116%	$560K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2111	−0.038%	$114.3M	$75.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2110	−0.087%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENAshort	+0.0100%	1h	0.2114	+0.111%	$400K	$542K	10x
Binance ENAUSDT	+0.0100%	4h	0.2110	−0.122%	$127.9M	$426.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.251%	$90.4M	$186.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	−0.137%	$21.1M	$107.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.066%	$33K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2116	+0.185%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.465%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2112	−0.014%	$12.5M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2112	−0.024%	$38.4M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	+0.014%	$24.7M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	−0.204%	$47.8M	$59.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2110	−0.118%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	+0.037%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+0.032%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.052%	$351K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2113	+0.043%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+0.170%	$183K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.315%	$877	$902K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2113	+0.043%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.492%	$266K	$816K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+0.090%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2110	−0.085%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	+0.066%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2120	+0.365%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0144%	1h	0.2111	−0.057%	$5.0M	$13.7M	10x	as long as short
Backpack ENA_USDC_PERP	+0.0241%	1h	0.2113	+0.057%	$392K	$437K	5x	as long as short
dYdX ENA-USD	+0.0245%	1h	0.2112	−0.022%	$139K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0753%	1h	0.2113	+0.059%	$58K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2112	long leg	$5.6M	$3.3M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2114	+0.109%	$1K	—	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0446%	1h	0.2115	+0.123%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+1.108%	$881K	$1.8M	50x	as long as short