Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Pacifica against Gate+0.107%7-day average +0.029% · 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−$47as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.205%+$21 · spread now +0.107%, 7d avg +0.029%

Together, before fees+0.222%+ Points / potential airdropPacifica: Active · farm board+$22 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: Pacifica is 0.078% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2104	0.0100	pay 0.0050% / 4h	1h 37m	$11.0M	$21.2M	50x
Short	Pacifica ENA	0.2106	0.0100	get 0.0013% / 1h	37m 57s	$411K	$511K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Gate. 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 GatebpFee PacificabpOrdersPrice spread, now +0.107%Rate

Funding earned: $0
Price spread: +0.107% → +0.029%: $7.82
Slippage, 4 orders: −$31.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$46.99
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Pacifica: 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 Gate live order book, 1 min ago	3.56 bp	19.9 bp −$20	38.2 bp −$382	59.8 bp −$5,981	99.4 bp −$49.7K
Sell Pacifica live order book, 26 min ago	1.41 bp	9.6 bp −$10	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2104	+0.019%	$78K	$1.3M	50x	as long as short
Orderly PERP_ENA_USDC	+0.0001%	4h	0.2103	−0.038%	$44K	$27K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2105	+0.064%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2106	+0.081%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.917%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0092%	1h	0.2108	+0.175%	$139K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2104	−0.005%	$54K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	+0.064%	$680K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2105	+0.033%	$113.1M	$71.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	+0.013%	$1.5M	$3.0M	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	0.2106	+0.107%	$411K	$511K	10x
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.043%	$129.1M	$422.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.052%	$86.3M	$176.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.019%	$20.7M	$102.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	+0.081%	$19K	$364K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+0.090%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+0.423%	$93K	$4K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2104	long leg	$11.0M	$21.2M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2103	−0.067%	$45.3M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	+0.033%	$24.5M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2102	−0.119%	$47.9M	$57.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2104	−0.014%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2104	+0.005%	$372K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.373%	$3.4M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+0.441%	$244K	$7.3M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+0.515%	$362K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.566%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2106	+0.090%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.281%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.052%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.314%	$276K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2104	−0.005%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	+0.040%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2103	−0.034%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.029%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2118	+0.651%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2106	+0.072%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0286%	1h	0.2105	+0.034%	$2.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	−0.043%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0368%	1h	0.2106	+0.076%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	+0.042%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2117	+0.627%	$833K	$1.5M	50x	as long as short