ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0148%/8h= −16.2% APRnext payment −$0.18 per $10,000 · paid last 24h −0.040%

Price spread now: Backpack against Bulk+0.127%7-day average — · you sell dearer than you buy

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

Long on Bulk Short on Backpack

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—needs both histories

The price spread pays, funding is against you. Backpack is 0.127% dearer against Bulk than usual: you sell high and buy low (spread +0.127% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ENA-USD	0.2098	0.0100	pay 0.0013% / 1h	39m 10s	$88K	$1K	10x
Short	Backpack ENA_USDC_PERP	0.2100	−0.0048	pay 0.0006% / 1h	39m 10s	$362K	$481K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bulk. 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 BulkbpFee BackpackbpOrdersPrice spread, now +0.127%Rate

Funding earned: −$30.98
Price spread: +0.127% → 0.000%: $12.65
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$35.33
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bulk: no order-book sample; Backpack: live order book, 45 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 Bulk no order-book sample	—	—	—	—	—
Sell Backpack live order book, 45 min ago	0.24 bp	8.2 bp −$8	40.9 bp −$409	doesn't fit	doesn't fit

Bulk: 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
Orderly PERP_ENA_USDC	−0.0066%	4h	0.2100	+0.093%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERPshort	−0.0048%	1h	0.2100	+0.127%	$362K	$481K	5x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.127%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2101	+0.131%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.218%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2100	+0.115%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2101	+0.146%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	+0.055%	$59K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.036%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	+0.019%	$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	+0.122%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2098	+0.018%	$406K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	+0.080%	$129.4M	$460.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2099	+0.045%	$87.2M	$191.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2100	+0.103%	$20.3M	$112.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.012%	$21K	$415K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	+0.055%	$82K	$222K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2098	long leg	$88K	$1K	10x
Gate ENA_USDT	+0.0100%	4h	0.2100	+0.088%	$10.5M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2100	+0.098%	$45.0M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	+0.141%	$24.0M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	+0.022%	$47.6M	$65.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2100	+0.084%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	−0.078%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	−0.012%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2098	−0.012%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.007%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.141%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.405%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	+0.103%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2102	+0.208%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	+0.055%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	+0.094%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2099	+0.055%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0227% / S −0.0378%	1h	0.2100	+0.112%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2099	+0.060%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2101	+0.169%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2100	+0.111%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2103	+0.231%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0569%	1h	0.2103	+0.241%	$111.0M	$79.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2102	+0.184%	$803K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1895%	1h	0.2099	+0.072%	$139K	$15K	5x	as long as short