ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0306%/8h= +33.5% APRnext payment +$0.38 per $10,000 · paid last 24h +0.112%

Price spread now: Hyperliquid against Deribit+0.076%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.382%+$38 on $10k

Price spread, last 3 days (all we have)−0.442%−$44 · spread now +0.076%, 7d avg +0.050%

Together, before fees−0.060%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.026% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ENA_USDC-PERPETUAL	0.2097	0	get 0.0000% / 1h	40m 54s	$97K	$1.9M	50x
Short	Hyperliquid ENA	0.2098	0.0306	get 0.0038% / 1h	40m 54s	$111.5M	$80.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now +0.076%Rate

Funding earned: $64.25
Price spread: +0.076% → +0.050%: $2.61
Slippage, 4 orders: −$17.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $33.41
Costs to cover: 0.334%
Break-even: 3.4 days

Slippage from Deribit: live order book, 3 min ago; Hyperliquid: live order book, 13 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 Deribit live order book, 3 min ago	3.34 bp	6.8 bp −$7	13.2 bp −$132	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 13 min ago	1.19 bp	7.4 bp −$7	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0355%	1h	0.2097	+0.005%	$361K	$486K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0084%	4h	0.2095	−0.062%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0040%	1h	0.2096	−0.014%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0022%	4h	0.2095	−0.086%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUALlong	0.0000%	1h	0.2097	long leg	$97K	$1.9M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	−0.019%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.273%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	+0.029%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.081%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.088%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2095	−0.062%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	−0.033%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	−0.066%	$402K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.100%	$129.2M	$469.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	−0.100%	$87.7M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	−0.062%	$20.1M	$114.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2094	−0.143%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	−0.033%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.129%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.105%	$44.9M	$48.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	−0.043%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	−0.143%	$47.4M	$66.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	−0.076%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2094	−0.126%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.177%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.183%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.224%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.024%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.432%	$1K	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.033%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.129%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.081%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2094	−0.107%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	−0.032%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	+0.017%	$2.7M	$5.8M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2099	+0.091%	$5.7M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2096	−0.021%	$50K	—	100x	as long as short
Hyperliquid ENAshort	+0.0306%	1h	0.2098	+0.076%	$111.5M	$80.9M	10x
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.010%	$5.6M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.062%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.196%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9447%	1h	0.2096	−0.026%	$138K	$12K	5x	as long as short