Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Polymarket Perps−0.028%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 7 days+0.077%+$8 · spread now −0.028%, 7d avg −0.014%

Together, before fees+0.287%+$29 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2111	0.0100	pay 0.0013% / 1h	13m 26s	$182K	$2.6M	10x
Short	MEXC ENA_USDT	0.2111	0.0100	get 0.0050% / 4h	13m 26s	$39.3M	$43.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → −0.014%: −$1.48
Slippage, 4 orders: −$9.7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$19.19
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	1.90 bp	6.8 bp −$7	8.3 bp −$83	12496.5 bp −$1.25M	doesn't fit
Sell MEXC live order book, 5 min ago	0.24 bp	2.8 bp −$3	6.4 bp −$64	41.8 bp −$4,183	69.5 bp −$34.8K

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	−0.0085%	4h	0.2111	0.000%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2112	+0.033%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	−0.035%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2112	+0.024%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.578%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.009%	$53K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2111	−0.007%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	−0.036%	$564K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2112	+0.062%	$114.5M	$74.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2112	+0.044%	$1.4M	$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 ENA	+0.0100%	1h	0.2111	−0.006%	$407K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2110	−0.047%	$128.4M	$425.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2110	−0.066%	$90.5M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2111	+0.009%	$21.1M	$107.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2109	−0.109%	$33K	$312K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2111	−0.009%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−0.294%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2111	−0.019%	$13.0M	$27.3M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2111	−0.028%	$39.3M	$43.1M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	+0.038%	$24.9M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	−0.081%	$47.9M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2110	−0.043%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2113	+0.076%	$409K	$486K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	−0.274%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2108	−0.172%	$254K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	−0.155%	$356K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2109	−0.104%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2111	long leg	$182K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2060	−2.430%	$1K	$909K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	−0.009%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.033%	$266K	$808K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	−0.104%	$1.8M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2113	+0.085%	$5.0M	$13.9M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2109	−0.119%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.023%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2112	+0.044%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2111	0.000%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2108	−0.145%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	−0.171%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	−0.087%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2098	−0.630%	$867K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0877%	1h	0.2111	−0.029%	$139K	$16K	5x	as long as short