Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against edgeX−0.155%7-day average −0.001% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on edgeX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now −0.155%, 7d avg −0.001%

Together, before fees+0.047%+ Points / potential airdropedgeX: Active · farm board+$5 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: Arcus is 0.153% cheaper against edgeX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ENAUSDC	0.2124	0.0100	pay 0.0050% / 4h	3h 55m	$246K	$7.5M	20x
Short	Arcus ENA-USD	0.2121	0.0100	get 0.0013% / 1h	55m 10s	$84K	$222K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against edgeX. 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 edgeXbpFee ArcusbpOrdersPrice spread, now −0.155%Rate

Funding earned: $0
Price spread: −0.155% → −0.001%: −$15.35
Slippage, 4 orders: −$33.55
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$62.4
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Arcus: live order book, 18 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 edgeX live order book, 4 min ago	7.06 bp	11.6 bp −$12	13.1 bp −$131	43.7 bp −$4,374	doesn't fit
Sell Arcus live order book, 18 min ago	7.04 bp	13.9 bp −$14	29.6 bp −$296	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
Backpack ENA_USDC_PERP	−0.0121%	1h	0.2121	−0.141%	$377K	$418K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2121	−0.143%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	−0.225%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2120	−0.200%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0015%	4h	0.2119	−0.249%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.042%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.202%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	−0.230%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	−0.141%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2120	−0.207%	$411K	$560K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2120	−0.188%	$131.6M	$448.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.249%	$89.2M	$188.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	−0.164%	$20.6M	$110.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.010%	$15K	$395K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2121	−0.155%	$84K	$222K	10x
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.081%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	−0.211%	$10.8M	$20.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2120	−0.221%	$46.2M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	−0.183%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.244%	$48.2M	$63.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2120	−0.207%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	−0.128%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDClong	+0.0100%	4h	0.2124	long leg	$246K	$7.5M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.014%	$359K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	−0.014%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	−0.169%	$176K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−2.551%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	−0.249%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	−0.051%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	−0.202%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	−0.236%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.007%	$76K	$3K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2124	−0.014%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2120	−0.188%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0235%	1h	0.2121	−0.139%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2118	−0.289%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2120	−0.200%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	−0.183%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.242%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2127	+0.146%	$840K	$1.9M	50x	as long as short
Lighter ENA	+0.0624%	1h	0.2122	−0.089%	$5.6M	$12.5M	10x	as long as short
Hyperliquid ENA	+0.0721%	1h	0.2124	−0.037%	$114.5M	$78.4M	10x	as long as short