ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0089%/8h= +9.7% APRnext payment +$0.11 per $10,000 · paid last 24h +0.010%

Price spread now: Phoenix against Bulk−0.211%51s7-day average — · you buy dearer than you sell

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

Long on Bulk Short on Phoenix

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

Funding pays, the price is against you. Phoenix is 0.211% cheaper against Bulk than usual: you would sell low and buy high (spread −0.211% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 8.0 days of funding at the current rate (+$3 a day). The two prices were read 51 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	Bulk ENA-USD	0.2129	0.0100	pay 0.0013% / 1h	32m 07s	$90K	$500	10x
Short	Phoenix ENA	0.2124	0.0189	get 0.0024% / 1h	32m 07s	$7K	$347K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.211%Rate

Funding earned: $18.59
Price spread: −0.211% → 0.000%: −$21.14
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$16.54
Costs to cover: 0.140%
Break-even: 13.2 days

Slippage unknown: Bulk: no order-book sample; Phoenix: live order book, 44 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 Phoenix live order book, 44 min ago	1.91 bp	16.6 bp −$17	51.7 bp −$517	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	−0.0018%	4h	0.2121	−0.385%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	−0.324%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2123	−0.291%	$105K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.263%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0055%	1h	0.2122	−0.305%	$375K	$447K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.235%	$64K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.237%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	−0.285%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2124	−0.242%	$411K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	−0.337%	$131.3M	$452.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2120	−0.404%	$89.1M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	−0.371%	$20.5M	$111.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	−0.225%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	−0.188%	$84K	$221K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2129	long leg	$90K	$500	10x
Gate ENA_USDT	+0.0100%	4h	0.2122	−0.319%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−0.357%	$46.8M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2123	−0.268%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.442%	$48.0M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	−0.376%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	−0.155%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	−0.169%	$253K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	−0.188%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	−0.282%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	−0.225%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.729%	$871	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.376%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.014%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.376%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	−0.304%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.338%	$78K	$11K	3x	as long as short
Phoenix ENAshort	+0.0189%	1h	0.2124	−0.211%	$7K	$347K	10x
01 Exchange ENAUSD	+0.0192%	1h	0.2125	−0.164%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2123	−0.276%	$2.7M	$5.4M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2121	−0.365%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2122	−0.306%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−0.329%	$5.6M	$7.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−0.336%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0536%	1h	0.2124	−0.230%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.127%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0806%	1h	0.2126	−0.132%	$114.3M	$78.7M	10x	as long as short
dYdX ENA-USD	+0.1717%	1h	0.2124	−0.229%	$140K	$15K	5x	as long as short