ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h −0.525%

Price spread now: Lighter against dYdX+0.217%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$571as in the Funding arb table

Net, price: spread back to 7d avg − costs−$501as in the Price arb table

costs, in and out, $10k−$5105.100% of the position

Long on dYdX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.607%−$61 on $10k

Price spread, last 4 days (all we have)−0.171%−$17 · spread now +0.217%, 7d avg +0.130%

Together, before fees−0.778%+ Points / potential airdropLighter: Season 3 · farm board−$78 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.087% dearer against dYdX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.130%. Mind the row above: over the last 7 days funding on this pair cost −0.607%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ENA-USD	0.2171	0.0255	pay 0.0032% / 1h	17m 47s	$143K	$16K	5x
Short	Lighter ENA	0.2176	0.0272	get 0.0034% / 1h	17m 47s	$5.4M	$13.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.217%Rate

Funding earned: $3.51
Price spread: +0.217% → +0.130%: $8.7
Slippage, 4 orders: −$500.02
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$497.81
Costs to cover: 5.100%
Break-even: 998.4 days

Slippage from dYdX: live order book, 31 min ago; Lighter: live order book, 6 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, 31 min ago	145.57 bp	183.1 bp −$183	501.1 bp −$5,011	1057.7 bp −$105.8K	1840.9 bp −$920.4K
Sell Lighter live order book, 6 min ago	0.70 bp	2.2 bp −$2	9.0 bp −$90	191.7 bp −$19.2K	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	−0.0138%	4h	0.2169	−0.073%	$45K	$26K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2166	−0.214%	$84K	—	150x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0027%	1h	0.2170	−0.041%	$70K	$1.1M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.192%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2165	−0.262%	$4K	$277	10x	as long as short
Phemex ENAUSDT	+0.0064%	4h	0.2169	−0.091%	$1.8M	$8.9M	50x	as long as short
Gate ENA_USDT	+0.0084%	4h	0.2172	+0.051%	$11.5M	$24.3M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2165	−0.276%	$60K	$468K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2166	−0.213%	$668K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2175	+0.191%	$118.1M	$75.1M	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	0.2175	+0.168%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2174	+0.128%	$408K	$528K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2173	+0.082%	$131.9M	$421.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2175	+0.185%	$87.7M	$176.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2175	+0.194%	$21.7M	$108.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2149	−1.008%	$21K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2176	+0.231%	$81K	$280K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2175	+0.194%	$48.0M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2175	+0.167%	$25.3M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2174	+0.125%	$49.5M	$58.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2174	+0.153%	—	$31.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−1.451%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2142	−1.333%	$246K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2126	−2.072%	$356K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2127	−2.026%	$19K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2166	−0.225%	$192K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2117	−2.482%	$961	$880K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2169	−0.091%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2168	−0.142%	$272K	$798K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−1.819%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2174	+0.148%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2171	−0.006%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2166	−0.249%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2155	−0.713%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2171	−0.016%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USDlong	+0.0255%	1h	0.2171	long leg	$143K	$16K	5x
Lighter ENAshort	+0.0272%	1h	0.2176	+0.217%	$5.4M	$13.1M	10x
GMX ENA/USD [ETH-USDC]	L +0.0309% / S −0.0753%	1h	0.2166	−0.210%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2165	−0.285%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2165	−0.259%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0649%	1h	0.2170	−0.022%	$365K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2170	−0.022%	$891K	$1.8M	50x	as long as short