Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against Pacifica−0.543%7-day average +0.037% · you buy dearer than you sell

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

Long on Pacifica Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.433%+$43 · spread now −0.543%, 7d avg +0.037%

Together, before fees+0.443%+ Points / potential airdropPacifica: Active · Ondo Perps: Active · farm board+$44 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: Ondo Perps is 0.580% cheaper against Pacifica than usual: you would sell low and buy high, −$58 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2127	0.0100	pay 0.0013% / 1h	2m 18s	$416K	$530K	10x
Short	Ondo Perps ENA-USD.P	0.2116	0.0100	get 0.0013% / 1h	2m 18s	$19K	$382K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.543%Rate

Funding earned: $0
Price spread: −0.543% → +0.037%: −$58.03
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$71.03
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 66 min ago; Ondo Perps: 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, 66 min ago	1.38 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 41 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	0.2130	+0.133%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2130	+0.133%	$87K	—	150x	as long as short
dYdX ENA-USD	+0.0011%	1h	0.2127	−0.040%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.191%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2128	+0.044%	$44K	$27K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2130	+0.119%	$54K	$507K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	+0.105%	$684K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.025%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2127	long leg	$416K	$530K	10x
Binance ENAUSDT	+0.0100%	4h	0.2130	+0.140%	$131.1M	$431.1M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2129	+0.091%	$87.2M	$180.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2129	+0.063%	$21.0M	$105.1M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2116	−0.543%	$19K	$382K	5x
Arcus ENA-USD	+0.0100%	1h	0.2128	+0.025%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.844%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2131	+0.157%	$11.1M	$22.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2132	+0.190%	$45.3M	$44.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2132	+0.195%	$24.7M	$16.0M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2128	+0.025%	$48.5M	$59.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2130	+0.119%	—	$32.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2128	+0.011%	$383K	$370K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.624%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−1.012%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	−0.726%	$359K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−1.009%	$32K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2131	+0.157%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2080	−2.212%	$962	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2129	+0.072%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2127	−0.022%	$277K	$804K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2130	+0.119%	$1.9M	$9.0M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2128	+0.017%	$48K	$110	10x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2129	+0.063%	$4K	$302	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2131	+0.149%	$75K	$4K	3x	as long as short
Extended ENA-USD	+0.0160%	1h	0.2129	+0.062%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.520%	$7K	$351K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2131	+0.165%	$2.7M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2130	+0.115%	$51K	—	100x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2130	+0.138%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0440%	1h	0.2131	+0.148%	$5.5M	$13.8M	10x	as long as short
Hyperliquid ENA	+0.0468%	1h	0.2133	+0.275%	$114.7M	$71.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2137	+0.425%	$840K	$1.6M	50x	as long as short