Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against MEXC+0.252%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs+$3as in the Price arb table

costs, in and out, $10k−$210.205% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 7 days−0.162%−$16 · spread now +0.252%, 7d avg +0.020%

Together, before fees−0.373%−$37 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 0.232% dearer against MEXC than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2107	0.0100	pay 0.0050% / 4h	1h 06m	$46.7M	$47.1M	200x
Short	Polymarket Perps ENA-USD	0.2112	0.0100	get 0.0013% / 1h	6m 03s	$178K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against MEXC. 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 MEXCbpFee Polymarket PerpsbpOrdersPrice spread, now +0.252%Rate

Funding earned: $0
Price spread: +0.252% → +0.020%: $23.18
Slippage, 4 orders: −$12.53
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $2.65
Costs to cover: 0.205%
Break-even: from the start

Slippage from MEXC: live order book, 8 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 MEXC live order book, 8 min ago	0.24 bp	1.3 bp −$1	5.7 bp −$57	40.5 bp −$4,052	73.1 bp −$36.5K
Sell Polymarket Perps live order book, 3 min ago	4.74 bp	9.9 bp −$10	24.5 bp −$245	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	−0.0037%	4h	0.2107	+0.009%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0004%	1h	0.2109	+0.076%	$372K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2108	+0.038%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2109	+0.066%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.769%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2109	+0.070%	$2.7M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	+0.180%	$62K	$530K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2109	+0.104%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	+0.197%	$664K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2110	+0.142%	$1.5M	$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 ENA	+0.0100%	1h	0.2110	+0.138%	$408K	$575K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2107	−0.028%	$130.3M	$455.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.033%	$87.9M	$190.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	+0.005%	$20.4M	$111.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2099	−0.408%	$15K	$397K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2110	+0.133%	$83K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2099	−0.377%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2108	+0.024%	$10.7M	$21.5M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2107	long leg	$46.7M	$47.1M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2108	+0.038%	$24.0M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2107	−0.033%	$47.7M	$64.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2108	+0.038%	—	$32.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.476%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.442%	$249K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	−0.086%	$358K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2107	−0.009%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2112	+0.252%	$178K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.397%	$1K	$817K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2107	−0.009%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.190%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	−0.057%	$2.0M	$9.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2108	+0.024%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2098	−0.418%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2112	+0.204%	$4K	$312	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0248% / S −0.0429%	1h	0.2108	+0.051%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	+0.147%	$5.5M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2107	−0.011%	$1.6M	$4.1M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	+0.181%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0560%	1h	0.2111	+0.171%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2112	+0.242%	$834K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0584%	1h	0.2111	+0.180%	$111.5M	$78.5M	10x	as long as short
dYdX ENA-USD	+0.1982%	1h	0.2109	+0.062%	$139K	$15K	5x	as long as short