ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0564%/8h= −61.8% APRnext payment −$0.70 per $10,000 · paid last 24h −0.139%

Price spread now: Polymarket Perps against Coinbase International+0.033%7-day average −0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.704%−$70 on $10k

Price spread, last 4 days (all we have)−0.444%−$44 · spread now +0.033%, 7d avg −0.126%

Together, before fees−1.149%−$115 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.159% dearer against Coinbase International than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.126%): +$16 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ENA-PERP-INTX	0.2117	0.0664	pay 0.0083% / 1h	42m 21s	$833K	$1.5M	50x
Short	Polymarket Perps ENA-USD	0.2118	0.0100	get 0.0013% / 1h	42m 21s	$185K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 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 Coinbase InternationalbpFee Polymarket PerpsbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$118.44
Price spread: +0.033% → −0.126%: $15.91
Slippage, 4 orders: −$31.47
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$151.99
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Polymarket Perps: live order book, 1 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, 1 min ago	8.26 bp	21.2 bp −$21	27.9 bp −$279	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	0.95 bp	4.9 bp −$5	5.7 bp −$57	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	+0.066%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	+0.065%	$82K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0010%	4h	0.2117	+0.009%	$44K	$27K	10x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2117	−0.005%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.288%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	−0.014%	$55K	$499K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	−0.019%	$684K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2119	+0.104%	$113.9M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	+0.049%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	+0.026%	$414K	$516K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2118	+0.047%	$130.0M	$424.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	+0.047%	$86.9M	$176.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	+0.038%	$20.9M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	−0.231%	$19K	$376K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	−0.014%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.203%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	+0.047%	$11.1M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.028%	$45.6M	$41.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.038%	$24.6M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	0.000%	$48.3M	$58.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2119	+0.080%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2118	+0.052%	$375K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	−0.346%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	−0.278%	$243K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	−0.409%	$350K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2115	−0.109%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2118	+0.033%	$185K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.376%	$1K	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2118	+0.033%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.123%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.080%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.020%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.057%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0113%	1h	0.2117	−0.031%	$140K	$15K	5x	as long as short
Extended ENA-USD	+0.0128%	1h	0.2118	+0.021%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0150%	1h	0.2109	−0.373%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2119	+0.065%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0284%	1h	0.2120	+0.129%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2111	−0.307%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0384%	1h	0.2121	+0.189%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2117	+0.007%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXlong	+0.0664%	1h	0.2117	long leg	$833K	$1.5M	50x