Funding arb · Price arb /

ENA

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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: BingX against Pacifica−0.079%47s7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.239% of the position

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now −0.079%, 7d avg −0.030%

Together, before fees+0.003%+ Points / potential airdropPacifica: Active · farm board$0 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: BingX is 0.049% cheaper against Pacifica than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.030%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2169	0.0100	pay 0.0013% / 1h	8m 49s	$427K	$550K	10x
Short	BingX ENA-USDT	0.2167	0.0100	get 0.0050% / 4h	3h 08m	—	$32.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.030%: −$4.88
Slippage, 4 orders: −$5.86
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$28.75
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Pacifica: live order book, 65 min ago; BingX: live order book, 15 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 Pacifica live order book, 65 min ago	0.23 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	0.70 bp	5.8 bp −$6	8.5 bp −$85	15.9 bp −$1,588	35.2 bp −$17.6K

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	0.2170	+0.064%	$81K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2169	−0.004%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0031%	4h	0.2169	+0.004%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.103%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2169	0.000%	$53K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2169	−0.007%	$719K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2169	+0.003%	$1.6M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2169	long leg	$427K	$550K	10x
Binance ENAUSDT	+0.0100%	4h	0.2168	−0.046%	$135.3M	$441.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2167	−0.079%	$89.2M	$186.1M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2167	−0.079%	$21.4M	$110.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2159	−0.471%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2170	+0.046%	$108K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.872%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2169	−0.014%	$11.1M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2169	+0.013%	$45.9M	$45.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2170	+0.055%	$25.0M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2166	−0.148%	$49.1M	$61.1M	75x	as long as short
BingX ENA-USDTshort	+0.0100%	4h	0.2167	−0.079%	—	$32.6M	—
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2170	+0.059%	$385K	$385K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2158	−0.522%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	−0.471%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2161	−0.369%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2158	−0.508%	$33K	$685K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2170	+0.041%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2118	−2.366%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2170	+0.046%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2171	+0.087%	$281K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2169	0.000%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2169	+0.017%	$49K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2169	−0.011%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2169	+0.009%	$8K	$347K	10x	as long as short
dYdX ENA-USD	+0.0165%	1h	0.2169	−0.010%	$143K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2169	−0.005%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0230%	1h	0.2171	+0.111%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2169	−0.003%	$82K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2171	+0.096%	$5.7M	$2.0M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2168	−0.055%	$1.6M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2168	−0.034%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2160	−0.397%	$854K	$1.8M	50x	as long as short
Lighter ENA	+0.0768%	1h	0.2174	+0.225%	$6.0M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0791%	1h	0.2172	+0.138%	$118.3M	$73.7M	10x	as long as short