Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0312%/8hnext payment −$0.39 per $10,000 · paid last 24h −0.090%

Price spread now: Arcus against Reya−0.011%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ENARUSDPERP	0.2117	0.0412	pay 0.0052% / 1h	28m 22s	$1K	$5K	15x
Short	Arcus ENA-USD	0.2117	0.0100	get 0.0013% / 1h	28m 22s	$84K	$217K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Reya. 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 ReyabpFee ArcusbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$65.53
Price spread: −0.011% → 0.000%: −$1.1
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$77.13
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Arcus: live order book, 4 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Arcus live order book, 4 min ago	4.72 bp	12.2 bp −$12	26.5 bp −$265	doesn't fit	doesn't fit

Reya: 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 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	−0.0348%	1h	0.2116	−0.063%	$365K	$500K	5x	as long as short
Kraken Futures PF_ENAUSD	−0.0224%	1h	0.2117	−0.014%	$2.6M	$6.1M	50x	as long as short
Injective ENA/USDC PERP	−0.0223%	1h	0.2123	+0.291%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	−0.0141%	4h	0.2114	−0.134%	$42K	$22K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2117	+0.008%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	−0.077%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2119	+0.073%	$87K	—	150x	as long as short
Phemex ENAUSDT	+0.0068%	4h	0.2115	−0.105%	$1.8M	$9.5M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2117	+0.013%	$5K	$392K	10x	as long as short
Bitget ENAUSDT	+0.0088%	4h	0.2115	−0.082%	$48.2M	$66.1M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.058%	$59K	$567K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	−0.050%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	−0.051%	$650K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	+0.112%	$110.1M	$78.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	+0.013%	$1.6M	$3.1M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	−0.036%	$406K	$618K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2118	+0.021%	$130.8M	$475.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.016%	$89.6M	$197.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.002%	$20.4M	$119.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2116	−0.054%	$20K	$471K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2117	−0.011%	$84K	$217K	10x
Bulk ENA-USD	+0.0100%	1h	0.2114	−0.129%	$89K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	−0.082%	$10.6M	$23.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+0.008%	$45.2M	$53.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	−0.002%	$23.5M	$16.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2118	+0.017%	—	$33.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	+0.038%	$3.7M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2114	−0.138%	$253K	$8.3M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.133%	$363K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.105%	$31K	$716K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	+0.055%	$185K	$3.2M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.524%	$1K	$779K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.105%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.168%	$274K	$1.7M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	−0.050%	$1.7M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	−0.105%	$78K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0160% / S −0.0212%	1h	0.2118	+0.055%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	−0.139%	$5.7M	$8.3M	75x	as long as short
Lighter ENA	+0.0400%	1h	0.2119	+0.074%	$5.8M	$13.8M	10x	as long as short
Reya ENARUSDPERPlong	+0.0412%	1h	0.2117	long leg	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2122	+0.202%	$811K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.5501%	1h	0.2116	−0.068%	$140K	$12K	5x	as long as short