ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0115%/8h= +12.6% APRnext payment +$0.14 per $10,000 · paid last 24h +0.045%

Price spread now: Phoenix against Deribit−0.024%50s7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.474% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 3 days (all we have)−0.729%−$73 · spread now −0.024%, 7d avg +0.044%

Together, before fees−0.479%−$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.068% cheaper against Deribit than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of +0.044%). If the spread goes back, that is −$7 on $10k: about 47 hours of funding at the current rate (+$3 a day). The two prices were read 50 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	Deribit ENA_USDC-PERPETUAL	0.2093	0	get 0.0000% / 1h	53m 33s	$93K	$1.8M	50x
Short	Phoenix ENA	0.2092	0.0115	get 0.0014% / 1h	53m 33s	$5K	$356K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.024%Rate

Funding earned: $24.18
Price spread: −0.024% → +0.044%: −$6.81
Slippage, 4 orders: −$33.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$30.04
Costs to cover: 0.474%
Break-even: 15.7 days

Slippage from Deribit: live order book, just now; Phoenix: live order book, 28 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, just now	1.91 bp	5.4 bp −$5	12.8 bp −$128	doesn't fit	doesn't fit
Sell Phoenix live order book, 28 min ago	1.90 bp	16.9 bp −$17	51.9 bp −$519	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
Orderly PERP_ENA_USDC	−0.0079%	4h	0.2092	−0.038%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUALlong	0.0000%	1h	0.2093	long leg	$93K	$1.8M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2093	−0.016%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.457%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2091	−0.086%	$4K	$432	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2093	−0.001%	$2.6M	$5.6M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0071%	1h	0.2091	−0.086%	$361K	$485K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.091%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.096%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.076%	$656K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2094	+0.058%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	−0.042%	$405K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2092	−0.067%	$128.6M	$464.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.143%	$86.9M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.105%	$20.2M	$113.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.258%	$20K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.091%	$82K	$223K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2091	−0.086%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	−0.043%	$45.0M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	−0.019%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.191%	$47.2M	$65.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2091	−0.100%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	+0.008%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.153%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.164%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	+0.196%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.067%	$189K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2042	−2.437%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2093	+0.005%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.287%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	−0.139%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.450%	$88K	$2K	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2093	+0.012%	$77K	$11K	3x	as long as short
Phoenix ENAshort	+0.0115%	1h	0.2092	−0.024%	$5K	$356K	10x
Extended ENA-USD	+0.0208%	1h	0.2091	−0.095%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0217% / S −0.0355%	1h	0.2092	−0.042%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2096	+0.162%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.158%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2094	+0.057%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0533%	1h	0.2094	+0.049%	$110.3M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.067%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1807%	1h	0.2091	−0.077%	$138K	$15K	5x	as long as short