ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0053%/8h= +5.8% APRnext payment +$0.07 per $10,000 · paid last 24h +0.001%

Price spread now: Phoenix against ApeX Omni+0.176%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$750.747% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now +0.176%, 7d avg +0.062%

Together, before fees+0.209%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.113% dearer against ApeX Omni than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2107	0.0100	pay 0.0013% / 1h	38m 02s	$20K	$648K	50x
Short	Phoenix ENA	0.2111	0.0153	get 0.0019% / 1h	38m 02s	$8K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now +0.176%Rate

Funding earned: $11.03
Price spread: +0.176% → +0.062%: $11.33
Slippage, 4 orders: −$57.69
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$52.33
Costs to cover: 0.747%
Break-even: 40.2 days

Slippage from ApeX Omni: live order book, 10 min ago; Phoenix: live order book, 8 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 ApeX Omni live order book, 10 min ago	11.87 bp	20.1 bp −$20	129.2 bp −$1,292	doesn't fit	doesn't fit
Sell Phoenix live order book, 8 min ago	1.89 bp	16.8 bp −$17	51.7 bp −$517	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
Orderly PERP_ENA_USDC	−0.0142%	4h	0.2110	+0.147%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2109	+0.071%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	+0.190%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	+0.167%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0004%	4h	0.2112	+0.233%	$11.1M	$23.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.778%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2107	0.000%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.043%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2110	+0.133%	$654K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2115	+0.361%	$114.6M	$74.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2113	+0.273%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2108	+0.040%	$395K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2113	+0.273%	$127.9M	$417.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2114	+0.308%	$85.5M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2115	+0.361%	$21.2M	$104.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−0.138%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	0.000%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	+0.237%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2113	+0.280%	$45.5M	$40.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2112	+0.256%	$24.9M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2112	+0.223%	$48.0M	$58.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2112	+0.261%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2100	−0.323%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.083%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2103	−0.172%	$354K	$4.9M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2107	long leg	$20K	$648K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	+0.199%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2061	−2.188%	$922	$869K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	+0.190%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.456%	$267K	$798K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2111	+0.190%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2110	+0.163%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.176%	$74K	$4K	3x	as long as short
Phoenix ENAshort	+0.0153%	1h	0.2111	+0.176%	$8K	$278K	10x
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2112	+0.258%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0192%	1h	0.2113	+0.294%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2110	+0.151%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	−0.256%	$5.5M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0376%	1h	0.2108	+0.039%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	+0.154%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0566%	1h	0.2114	+0.327%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2111	+0.209%	$864K	$1.7M	50x	as long as short