ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0146%/8h= +15.9% APRnext payment +$0.18 per $10,000 · paid last 24h +0.039%

Price spread now: Popdex against Backpack−0.195%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Backpack Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.085%−$8 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.195%, 7d avg −0.046%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.149% cheaper against Backpack than usual: you would sell low and buy high (spread −0.195% now, against its 7-day average of −0.046%). If the spread goes back, that is −$15 on $10k: about 3.4 days of funding at the current rate (+$4 a day). Mind the row above: over the last 3 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ENA_USDC_PERP	0.2101	−0.0050	get 0.0006% / 1h	40m 06s	$362K	$481K	5x
Short	Popdex ENAUSDT	0.2097	0.0096	get 0.0012% / 1h	40m 06s	$59K	$537K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Backpack. 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 BackpackbpFee PopdexbpOrdersPrice spread, now −0.195%Rate

Funding earned: $30.57
Price spread: −0.195% → −0.046%: −$14.94
Slippage, 4 orders: −$19.13
Fee Backpack: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$19.89
Costs to cover: 0.355%
Break-even: 11.6 days

Slippage from Backpack: live order book, 44 min ago; Popdex: live order book, 44 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 Backpack live order book, 44 min ago	0.24 bp	10.1 bp −$10	47.0 bp −$470	doesn't fit	doesn't fit
Sell Popdex live order book, 44 min ago	0.71 bp	9.5 bp −$10	75.2 bp −$752	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	−0.0067%	4h	0.2099	−0.081%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERPlong	−0.0050%	1h	0.2101	long leg	$362K	$481K	5x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	−0.043%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	−0.061%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.061%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2100	−0.064%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2099	−0.124%	$4K	$432	10x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2097	−0.195%	$59K	$537K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.200%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.209%	$659K	$1.8M	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	0.2100	−0.033%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	−0.158%	$406K	$582K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	−0.035%	$129.4M	$460.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2099	−0.076%	$87.3M	$191.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	−0.024%	$20.3M	$112.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	−0.143%	$21K	$415K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	−0.148%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.155%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2099	−0.086%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2101	−0.019%	$45.1M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	−0.005%	$24.0M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.095%	$47.6M	$65.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2100	−0.052%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	−0.233%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.154%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.285%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	−0.243%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	−0.129%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.589%	$958	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.052%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2103	+0.081%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	−0.052%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.289%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2099	−0.100%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0226% / S −0.0377%	1h	0.2100	−0.049%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2099	−0.086%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.190%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.166%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2103	+0.090%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0569%	1h	0.2104	+0.114%	$111.1M	$80.0M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2102	+0.029%	$803K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1904%	1h	0.2098	−0.170%	$139K	$15K	5x	as long as short