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: Pacifica against Polymarket Perps+0.106%7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Polymarket Perps Short on Pacifica

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)−0.327%−$33 · spread now +0.106%, 7d avg −0.060%

Together, before fees−0.102%+ Points / potential airdropPacifica: Active · farm board−$10 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: Pacifica is 0.166% dearer against Polymarket Perps than usual: you sell high and buy low, +$17 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	Polymarket Perps ENA-USD	0.2149	0.0100	pay 0.0013% / 1h	5m 30s	$179K	$2.4M	10x
Short	Pacifica ENA	0.2151	0.0100	get 0.0013% / 1h	5m 30s	$424K	$550K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.106%Rate

Funding earned: $0
Price spread: +0.106% → −0.060%: $16.56
Slippage, 4 orders: −$15.78
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$15.22
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Pacifica: 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 Polymarket Perps live order book, 3 min ago	2.77 bp	8.1 bp −$8	10.0 bp −$100	12526.2 bp −$1.25M	doesn't fit
Sell Pacifica live order book, 3 min ago	1.38 bp	6.9 bp −$7	doesn't fit	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2155	+0.293%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2154	+0.234%	$88K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0030%	4h	0.2154	+0.209%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.191%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2149	0.000%	$52K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2148	−0.026%	$713K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2154	+0.220%	$1.6M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2151	+0.106%	$424K	$550K	10x
Binance ENAUSDT	+0.0100%	4h	0.2150	+0.023%	$134.4M	$441.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2147	−0.074%	$88.2M	$186.2M	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	0.2147	−0.070%	$21.2M	$109.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2160	+0.503%	$16K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2152	+0.140%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2167	+0.838%	$95K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2150	+0.037%	$10.9M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2150	+0.065%	$45.4M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2151	+0.107%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2147	−0.112%	$48.7M	$61.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2150	+0.042%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2154	+0.237%	$382K	$376K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2153	+0.175%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2166	+0.800%	$252K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2169	+0.951%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2169	+0.931%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2149	long leg	$179K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2102	−2.164%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2156	+0.326%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.437%	$279K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2152	+0.140%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2150	+0.069%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2155	+0.256%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2157	+0.368%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0168%	1h	0.2150	+0.060%	$4K	$302	10x	as long as short
dYdX ENA-USD	+0.0200%	1h	0.2153	+0.176%	$142K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2157	+0.387%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2154	+0.232%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2166	+0.786%	$5.7M	$2.0M	75x	as long as short
Extended ENA-USD	+0.0360%	1h	0.2149	−0.016%	$1.6M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2148	−0.061%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2162	+0.605%	$855K	$1.8M	50x	as long as short
Hyperliquid ENA	+0.0765%	1h	0.2151	+0.088%	$116.1M	$74.4M	10x	as long as short
Lighter ENA	+0.0776%	1h	0.2155	+0.284%	$5.9M	$13.2M	10x	as long as short