Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Arcus against Polymarket Perps+0.005%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on Polymarket Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.751%−$75 · spread now +0.005%, 7d avg −0.032%

Together, before fees−0.741%−$74 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: Arcus is 0.037% dearer against Polymarket Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2081	0.0100	pay 0.0013% / 1h	6m 09s	$191K	$2.8M	10x
Short	Arcus ENA-USD	0.2081	0.0100	get 0.0013% / 1h	6m 09s	$81K	$223K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Polymarket Perps. 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 Polymarket PerpsbpFee ArcusbpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → −0.032%: $3.69
Slippage, 4 orders: −$26.84
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$35.65
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Arcus: live order book, 17 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 Polymarket Perps live order book, 3 min ago	2.63 bp	7.1 bp −$7	9.5 bp −$95	14310.7 bp −$1.43M	doesn't fit
Sell Arcus live order book, 17 min ago	9.48 bp	12.7 bp −$13	26.6 bp −$266	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
Backpack ENA_USDC_PERP	−0.0292%	1h	0.2083	+0.120%	$359K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0079%	4h	0.2081	+0.024%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2081	−0.014%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2082	+0.067%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2081	−0.006%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+2.042%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2090	+0.437%	$5K	$394K	10x	as long as short
Gate ENA_USDT	+0.0090%	4h	0.2082	+0.072%	$10.4M	$21.8M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2080	−0.043%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2080	−0.048%	$47K	$221	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	0.2080	−0.031%	$652K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2083	+0.095%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2081	+0.008%	$403K	$592K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2082	+0.057%	$128.1M	$465.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2080	−0.034%	$86.4M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2081	−0.005%	$20.1M	$112.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2088	+0.336%	$20K	$412K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2081	+0.005%	$81K	$223K	10x
Bulk ENA-USD	+0.0100%	1h	0.2087	+0.286%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2083	+0.096%	$45.1M	$49.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2084	+0.144%	$23.8M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2081	+0.019%	$47.0M	$65.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2082	+0.058%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	+0.221%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.466%	$248K	$7.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	+0.488%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2090	+0.437%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2081	long leg	$191K	$2.8M	10x
SunX ENA-USDT	+0.0100%	4h	0.2030	−2.427%	$947	$811K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2082	+0.053%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2087	+0.284%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2082	+0.053%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2082	+0.057%	$76K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0105%	1h	0.2083	+0.104%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2081	+0.019%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0215% / S −0.0164%	1h	0.2080	−0.023%	$50K	—	100x	as long as short
Lighter ENA	+0.0304%	1h	0.2086	+0.226%	$5.6M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0339%	1h	0.2085	+0.202%	$109.9M	$80.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2089	+0.370%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2080	−0.027%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2082	+0.058%	$796K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5075%	1h	0.2081	−0.007%	$137K	$15K	5x	as long as short