Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Pacifica−0.331%52s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$420.421% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.710%+$71 · spread now −0.331%, 7d avg +0.033%

Together, before fees+0.729%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board+$73 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: edgeX is 0.364% cheaper against Pacifica than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 52 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	0.2104	0.0100	pay 0.0013% / 1h	40m 40s	$410K	$500K	10x
Short	edgeX ENAUSDC	0.2097	0.0100	get 0.0050% / 4h	40m 40s	$242K	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.331%Rate

Funding earned: $0
Price spread: −0.331% → +0.033%: −$36.35
Slippage, 4 orders: −$25.12
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$78.47
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from Pacifica: live order book, 18 min ago; edgeX: 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 Pacifica live order book, 18 min ago	3.08 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	7.15 bp	11.7 bp −$12	13.2 bp −$132	44.5 bp −$4,447	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	−0.0314%	1h	0.2100	−0.197%	$364K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2104	−0.007%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2097	−0.307%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	−0.250%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	−0.283%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.924%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.354%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2105	+0.064%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.330%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	−0.095%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.311%	$662K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2106	+0.107%	$112.2M	$73.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	+0.002%	$1.5M	$2.9M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2104	long leg	$410K	$500K	10x
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.025%	$128.4M	$416.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.021%	$85.3M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	+0.002%	$20.8M	$102.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.525%	$20K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.520%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.293%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2103	−0.045%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	−0.021%	$45.8M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	+0.040%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2102	−0.069%	$47.9M	$57.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2104	−0.017%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.342%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2097	−0.331%	$242K	$6.9M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.425%	$347K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	−0.425%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	−0.250%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.678%	$845	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	−0.283%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2104	−0.021%	$272K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	−0.188%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2103	−0.064%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.257%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0119%	1h	0.2104	−0.019%	$139K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2099	−0.215%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	−0.288%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	−0.202%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.343%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	−0.658%	$851K	$1.5M	50x	as long as short