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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Pacifica−0.074%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Pacifica Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.225%−$22 on $10k

Price spread, last 4 days (all we have)+0.295%+$30 · spread now −0.074%, 7d avg +0.060%

Together, before fees+0.070%+ Points / potential airdropPacifica: Active · farm board+$7 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 0.134% cheaper against Pacifica than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2168	0.0100	pay 0.0013% / 1h	6m 53s	$427K	$550K	10x
Short	Polymarket Perps ENA-USD	0.2166	0.0100	get 0.0013% / 1h	6m 53s	$181K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → +0.060%: −$13.38
Slippage, 4 orders: −$15.34
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$44.72
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Polymarket Perps: live order book, 7 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, 2 min ago	1.38 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 7 min ago	2.78 bp	6.8 bp −$7	7.5 bp −$75	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
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2166	−0.078%	$93K	—	150x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0027%	1h	0.2167	−0.014%	$81K	$1.6M	50x	as long as short
Orderly PERP_ENA_USDC	+0.0031%	4h	0.2166	−0.074%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.039%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2166	−0.074%	$53K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2165	−0.122%	$721K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2167	−0.048%	$1.6M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2168	long leg	$427K	$550K	10x
Binance ENAUSDT	+0.0100%	4h	0.2158	−0.429%	$134.9M	$441.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2157	−0.489%	$88.7M	$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	0.2158	−0.461%	$21.3M	$110.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2171	+0.143%	$16K	$416K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2167	−0.028%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2167	−0.028%	$95K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2157	−0.475%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2162	−0.249%	$45.7M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2165	−0.115%	$24.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2160	−0.355%	$49.0M	$61.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2157	−0.475%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2167	−0.028%	$385K	$377K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2158	−0.457%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2169	+0.045%	$250K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2169	+0.085%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2169	+0.065%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2166	−0.074%	$181K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2115	−2.431%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2166	−0.074%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2170	+0.125%	$281K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2167	−0.028%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2167	−0.016%	$49K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2167	−0.042%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2169	+0.074%	$8K	$347K	10x	as long as short
dYdX ENA-USD	+0.0168%	1h	0.2165	−0.132%	$143K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2165	−0.138%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0230%	1h	0.2168	+0.025%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2166	−0.077%	$82K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2166	−0.078%	$5.7M	$2.0M	75x	as long as short
Extended ENA-USD	+0.0360%	1h	0.2161	−0.308%	$1.6M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2164	−0.154%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2172	+0.194%	$859K	$1.8M	50x	as long as short
Lighter ENA	+0.0776%	1h	0.2170	+0.120%	$5.9M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0783%	1h	0.2169	+0.060%	$117.9M	$73.9M	10x	as long as short