ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1344%/8h= −147.2% APRnext payment −$1.68 per $10,000 · paid last 24h −0.556%

Price spread now: Coinbase International against dYdX+0.005%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$842as in the Funding arb table

Net, price: spread back to 7d avg − costs−$803as in the Price arb table

costs, in and out, $10k−$7867.856% of the position

Long on dYdX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.565%−$57 on $10k

Price spread, last 3 days (all we have)+0.207%+$21 · spread now +0.005%, 7d avg +0.176%

Together, before fees−0.358%−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and Coinbase International is 0.171% cheaper against dYdX than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.176%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.565% in total (about -29.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.68 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	dYdX ENA-USD	0.2097	0.1920	pay 0.0240% / 1h	36m 43s	$139K	$15K	5x
Short	Coinbase International ENA-PERP-INTX	0.2097	0.0576	get 0.0072% / 1h	36m 43s	$805K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against dYdX. 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 dYdXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$282.27
Price spread: +0.005% → +0.176%: −$17.06
Slippage, 4 orders: −$765.61
Fee dYdX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1,084.94
Costs to cover: 7.856%
Break-even: never at this rate

Slippage from dYdX: live order book, 47 min ago; Coinbase International: 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 dYdX live order book, 47 min ago	74.05 bp	249.8 bp −$250	475.0 bp −$4,750	648.8 bp −$64.9K	1405.5 bp −$702.8K
Sell Coinbase International live order book, 2 min ago	8.81 bp	18.3 bp −$18	23.2 bp −$232	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	−0.0065%	4h	0.2094	−0.133%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0055%	1h	0.2095	−0.080%	$361K	$481K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	−0.099%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	−0.097%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.274%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2095	−0.080%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2096	−0.023%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.080%	$59K	$537K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.087%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2095	−0.080%	$658K	$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	0.2095	−0.082%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2096	−0.039%	$405K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2092	−0.206%	$128.9M	$460.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2091	−0.257%	$86.9M	$191.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	−0.181%	$20.3M	$112.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.044%	$21K	$422K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.015%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.055%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2092	−0.204%	$10.4M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2093	−0.181%	$44.9M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2094	−0.114%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	−0.290%	$47.4M	$65.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2093	−0.190%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	−0.023%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2099	+0.121%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.158%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2100	+0.158%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	−0.042%	$187K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2044	−2.494%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2094	−0.128%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.125%	$274K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.128%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.093%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2099	+0.110%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0228% / S −0.0381%	1h	0.2095	−0.076%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0296%	1h	0.2091	−0.254%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.085%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.137%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2095	−0.076%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0553%	1h	0.2096	−0.028%	$110.7M	$79.5M	10x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0576%	1h	0.2097	+0.005%	$805K	$2.1M	50x
dYdX ENA-USDlong	+0.1920%	1h	0.2097	long leg	$139K	$15K	5x