Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h +0.035%
Price spread now: Lighter against Coinbase International+0.038%7-day average −0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$420.419% of the position
Funding, last 7 days−0.011%−$1 on $10k
+Price spread, last 3 days (all we have)−0.104%−$10 · spread now +0.038%, 7d avg −0.038%
=Together, before fees−0.114%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.076% dearer against Coinbase International than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.038%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.0 days. At the pace of the last 7 days (−0.011% in total) that is about 50 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ENA-PERP-INTX | 0.2097 | 0.0576 | pay 0.0072% / 1h | 22m 03s | $806K | $2.1M | 50x |
| Short | Lighter ENA | 0.2098 | 0.0512 | get 0.0064% / 1h | 22m 03s | $5.6M | $12.9M | 10x |
Coinbase International ENA-PERP-INTX
Lighter ENAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$13.44
- Price spread: +0.038% → −0.038%
- $7.59
- Slippage, 4 orders
- −$31.9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$47.74
- Costs to cover
- 0.419%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Lighter: live order book, 7 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 Coinbase International live order book, 2 min ago | 6.44 bp | 22.6 bp −$23 | 25.4 bp −$254 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.48 bp | 1.3 bp −$1 | 4.8 bp −$48 | 203.0 bp −$20.3K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack ENA_USDC_PERP | −0.0068% | 1h | 0.2097 | −0.010% | $362K | $447K | 5x | as long as short |
| Orderly PERP_ENA_USDC | −0.0053% | 4h | 0.2096 | −0.057% | $41K | $24K | 10x | as long as short |
| Deribit ENA_USDC-PERPETUAL | 0.0000% | 1h | 0.2097 | −0.038% | $92K | $1.8M | 50x | as long as short |
| gTrade (Gains Network) ENA/USD | L +0.0003% / S −0.0003% | 1h | 0.2096 | −0.071% | $101K | — | 150x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | +1.235% | $522 | $57K | 5.5x | as long as short |
| Kraken Futures PF_ENAUSD | +0.0066% | 1h | 0.2098 | +0.001% | $2.6M | $5.5M | 50x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2094 | −0.167% | $61K | $531K | 50x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2093 | −0.211% | $47K | $221 | 10x | as long as short |
| Nado ENA-PERP | +0.0100% | 1h | 0.2093 | −0.212% | $659K | $1.8M | 10x | as long as short |
| Aster ENAUSDT | +0.0100% | 4h | 0.2096 | −0.093% | $1.5M | $3.3M | 50x | as long as short |
Backpack ENA_USDC_PERP
Orderly PERP_ENA_USDC
Deribit ENA_USDC-PERPETUAL
gTrade (Gains Network) ENA/USD
Injective ENA/USDC PERP
Kraken Futures PF_ENAUSD
Popdex ENAUSDT
Paradex ENA-USD-PERP
Nado ENA-PERP
Aster ENAUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ENA | +0.0100% | 1h | 0.2093 | −0.200% | $405K | $578K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2097 | −0.043% | $129.3M | $456.4M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2096 | −0.067% | $87.2M | $191.0M | 50x | as long as short |
| OKX ENA-USDT-SWAP | +0.0100% | 4h | 0.2096 | −0.062% | $20.2M | $111.5M | 50x | as long as short |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2093 | −0.229% | $15K | $401K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2094 | −0.167% | $82K | $222K | 10x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2088 | −0.429% | $88K | $500 | 10x | as long as short |
| Gate ENA_USDT | +0.0100% | 4h | 0.2096 | −0.091% | $10.5M | $21.3M | 50x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2096 | −0.076% | $45.8M | $46.9M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2097 | −0.010% | $23.9M | $16.5M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2095 | −0.124% | $47.4M | $64.9M | 75x | as long as short |
| BingX ENA-USDC | +0.0100% | 4h | 0.2096 | −0.057% | — | $6.5M | — | as long as short |
| Variational Omni ENA | +0.0100% | 4h | 0.2089 | −0.391% | $3.8M | $10.3M | — | as long as short |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2093 | −0.235% | $248K | $7.8M | 20x | as long as short |
| GRVT ENA_USDT_Perp | +0.0100% | 4h | 0.2094 | −0.167% | $354K | $4.6M | 10x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2094 | −0.167% | $32K | $711K | 50x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2095 | −0.100% | $181K | $2.7M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2045 | −2.508% | $978 | $815K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2096 | −0.072% | $4K | $14K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2097 | −0.043% | $272K | $1.5M | 50x | as long as short |
| Phemex ENAUSDT | +0.0100% | 4h | 0.2095 | −0.119% | $1.9M | $9.2M | 50x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2097 | −0.024% | $77K | $11K | 3x | as long as short |
| Phoenix ENA | +0.0115% | 1h | 0.2091 | −0.291% | $5K | $356K | 10x | as long as short |
| 01 Exchange ENAUSD | +0.0128% | 1h | 0.2095 | −0.114% | $4K | $432 | 10x | as long as short |
| GMX ENA/USD [ETH-USDC] | L +0.0237% / S −0.0404% | 1h | 0.2095 | −0.108% | $38K | — | 100x | as long as short |
| Extended ENA-USD | +0.0328% | 1h | 0.2095 | −0.099% | $1.6M | $4.2M | 50x | as long as short |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2092 | −0.286% | $5.5M | $8.0M | 75x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2094 | −0.154% | $1K | $5K | 15x | as long as short |
| Lighter ENAshort | +0.0512% | 1h | 0.2098 | +0.038% | $5.6M | $12.9M | 10x | |
| Coinbase International ENA-PERP-INTXlong | +0.0576% | 1h | 0.2097 | long leg | $806K | $2.1M | 50x | |
| Hyperliquid ENA | +0.0583% | 1h | 0.2099 | +0.081% | $110.8M | $78.9M | 10x | as long as short |
| dYdX ENA-USD | +0.1963% | 1h | 0.2091 | −0.305% | $138K | $15K | 5x | as long as short |
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDT
OKX ENA-USDT-SWAP
Ondo Perps ENA-USD.P
Arcus ENA-USD
Bulk ENA-USD
Gate ENA_USDT
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDC
Variational Omni ENA
edgeX ENAUSDC
GRVT ENA_USDT_Perp
ApeX Omni ENAUSDT
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Phemex ENAUSDT
Aevo ENA-PERP
Phoenix ENA
01 Exchange ENAUSD
GMX ENA/USD [ETH-USDC]
Extended ENA-USD
BloFin ENA-USDT
Reya ENARUSDPERP
Hyperliquid ENA
dYdX ENA-USD