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 Arcus+0.414%49s7-day average +0.073% · 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—prices read too far apart to compare

costs, in and out, $10k−$580.584% of the position

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.166%−$17 · spread now +0.414%, 7d avg +0.073%

Together, before fees−0.033%−$3 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 0.341% dearer against Arcus than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.073%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2102	0.0100	pay 0.0013% / 1h	40m 04s	$78K	$276K	10x
Short	Phoenix ENA	0.2111	0.0153	get 0.0019% / 1h	40m 04s	$8K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Arcus. 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 ArcusbpFee PhoenixbpOrdersPrice spread, now +0.414%Rate

Funding earned: $11.03
Price spread: +0.414% → +0.073%: $34.06
Slippage, 4 orders: −$46.85
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$13.26
Costs to cover: 0.584%
Break-even: 15.4 days

Slippage from Arcus: live order book, 8 min ago; Phoenix: live order book, 6 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 Arcus live order book, 8 min ago	7.12 bp	14.6 bp −$15	26.1 bp −$261	doesn't fit	doesn't fit
Sell Phoenix live order book, 6 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	0.2100	−0.095%	$44K	$25K	10x	as long as short
Gate ENA_USDT	−0.0020%	4h	0.2100	−0.090%	$11.0M	$23.5M	50x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2099	−0.147%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2101	−0.057%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2100	−0.083%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.018%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.190%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	+0.010%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−0.193%	$650K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2103	+0.035%	$114.0M	$74.4M	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	0.2102	−0.001%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2103	+0.045%	$395K	$522K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2101	−0.040%	$127.2M	$417.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2101	−0.043%	$85.0M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	−0.010%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	+0.423%	$20K	$322K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2102	long leg	$78K	$276K	10x
Bulk ENA-USD	+0.0100%	1h	0.2112	+0.476%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2101	−0.038%	$45.3M	$40.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2102	−0.005%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2100	−0.095%	$47.8M	$58.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2101	−0.067%	—	$31.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2100	−0.085%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.321%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	+0.381%	$349K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	+0.381%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	−0.128%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.498%	$1K	$867K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.095%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.133%	$265K	$799K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	−0.095%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2100	−0.106%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	−0.099%	$73K	$4K	3x	as long as short
Lighter ENA	+0.0144%	1h	0.2102	+0.019%	$5.2M	$13.0M	10x	as long as short
Phoenix ENAshort	+0.0153%	1h	0.2111	+0.414%	$8K	$278K	10x
Kraken Futures PF_ENAUSD	+0.0164%	1h	0.2102	−0.017%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2100	−0.117%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2105	+0.124%	$5.5M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0408%	1h	0.2103	+0.031%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.165%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0555%	1h	0.2101	−0.043%	$356K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2102	+0.024%	$860K	$1.7M	50x	as long as short