Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Pacifica−1.874%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 1.874% cheaper against Pacifica than usual: you would sell low and buy high, −$187 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2172	0.0100	pay 0.0013% / 1h	16m 18s	$408K	$528K	10x
Short	Bulk ENA-USD	0.2132	0.0100	get 0.0013% / 1h	16m 18s	$94K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −1.874%Rate

Funding earned: $0
Price spread: −1.874% → 0.000%: −$187.37
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$202.37
Costs to cover: 0.150%
Break-even: 415818427040796672.0 days

Slippage unknown: Pacifica: live order book, 32 min ago; Bulk: no order-book sample. Net counts fees only.

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, 32 min ago	1.66 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0139%	4h	0.2172	−0.009%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2173	+0.032%	$70K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0003%	4h	0.2174	+0.083%	$1.8M	$8.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2174	+0.105%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.247%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2173	+0.023%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2174	+0.083%	$53K	$475K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2176	+0.196%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2179	+0.327%	$118.1M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2176	+0.182%	$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 ENAlong	+0.0100%	1h	0.2172	long leg	$408K	$528K	10x
Binance ENAUSDT	+0.0100%	4h	0.2175	+0.120%	$132.1M	$422.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2173	+0.051%	$87.6M	$177.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2173	+0.023%	$21.7M	$108.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2149	−1.063%	$21K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2173	+0.037%	$81K	$280K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2175	+0.129%	$11.5M	$24.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2178	+0.262%	$47.8M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2176	+0.161%	$25.4M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2172	−0.032%	$49.4M	$58.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2175	+0.106%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−1.507%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2142	−1.389%	$246K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2163	−0.404%	$362K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2164	−0.377%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2178	+0.249%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2119	−2.431%	$1K	$882K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2174	+0.083%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2185	+0.589%	$274K	$805K	50x	as long as short
Bulk ENA-USDshort	+0.0100%	1h	0.2132	−1.874%	$94K	−$0	10x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2172	−0.029%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2171	−0.048%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2174	+0.067%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	+0.092%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2175	+0.139%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0249%	1h	0.2171	−0.049%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0264%	1h	0.2175	+0.110%	$5.3M	$13.2M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2174	+0.083%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	−0.023%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2177	+0.226%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0659%	1h	0.2174	+0.097%	$366K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2173	+0.028%	$891K	$1.8M	50x	as long as short