ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0446%/8h= +48.8% APRnext payment +$0.56 per $10,000 · paid last 24h −0.037%

Price spread now: Kraken Futures against Deribit+0.044%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.299%+$30 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now +0.044%, 7d avg +0.035%

Together, before fees+0.379%+$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.299% in total (about 15.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ENA_USDC-PERPETUAL	0.2114	0	get 0.0000% / 1h	6m 50s	$54K	$1.1M	50x
Short	Kraken Futures PF_ENAUSD	0.2115	0.0446	get 0.0056% / 1h	6m 50s	$2.6M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.044%Rate

Funding earned: $93.64
Price spread: +0.044% → +0.035%: $0.89
Slippage, 4 orders: −$32.87
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $44.66
Costs to cover: 0.499%
Break-even: 3.7 days

Slippage from Deribit: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago	4.49 bp	9.4 bp −$9	16.2 bp −$162	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	8.75 bp	14.2 bp −$14	23.0 bp −$230	156.1 bp −$15.6K	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
Orderly PERP_ENA_USDC	−0.0100%	4h	0.2113	−0.080%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUALlong	0.0000%	1h	0.2114	long leg	$54K	$1.1M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	−0.061%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2109	−0.246%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.430%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2109	−0.251%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.409%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2111	−0.147%	$559K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2116	+0.061%	$114.5M	$75.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2113	−0.071%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2107	−0.357%	$399K	$542K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2113	−0.062%	$128.1M	$426.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2112	−0.132%	$90.6M	$186.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2113	−0.052%	$21.1M	$107.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.170%	$33K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	−0.298%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.361%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2113	−0.080%	$12.5M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2113	−0.066%	$38.4M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	−0.038%	$24.7M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2111	−0.175%	$47.8M	$59.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2112	−0.109%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.220%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	−0.073%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.156%	$351K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2113	−0.061%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	−0.118%	$183K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.748%	$1K	$902K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	−0.014%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2118	+0.184%	$266K	$816K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	−0.014%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.148%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2113	−0.061%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2120	+0.260%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0152%	1h	0.2116	+0.076%	$5.0M	$13.7M	10x	as long as short
dYdX ENA-USD	+0.0239%	1h	0.2108	−0.317%	$139K	$16K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0249%	1h	0.2114	+0.009%	$392K	$437K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0753%	1h	0.2113	−0.045%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2112	−0.104%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	−0.146%	$1K	—	15x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0446%	1h	0.2115	+0.044%	$2.6M	$4.4M	50x
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+1.003%	$881K	$1.8M	50x	as long as short