ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0085%/8h= +9.3% APRnext payment +$0.11 per $10,000 · paid last 24h −0.683%

Price spread now: Polymarket Perps against dYdX+0.661%47s7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$241as 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−$1131.128% of the position

Long on dYdX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−1.282%−$128 on $10k

Price spread, last 4 days (all we have)−0.302%−$30 · spread now +0.661%, 7d avg +0.075%

Together, before fees−1.584%−$158 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.586% dearer against dYdX than usual: you sell high and buy low: +$59 more if the spread goes back to its 7-day average of +0.075%. Mind the row above: over the last 7 days funding on this pair cost −1.282%, so the current rate has only just turned in your favour. The two prices were read 47 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	dYdX ENA-USD	0.2134	0.0015	pay 0.0002% / 1h	26m 48s	$141K	$15K	5x
Short	Polymarket Perps ENA-USD	0.2148	0.0100	get 0.0013% / 1h	26m 48s	$191K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.661%Rate

Funding earned: $17.77
Price spread: +0.661% → +0.075%: $58.59
Slippage, 4 orders: −$94.75
Fee dYdX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$36.39
Costs to cover: 1.128%
Break-even: 21.3 days

Slippage from dYdX: live order book, 42 min ago; Polymarket Perps: 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, 42 min ago	39.28 bp	44.3 bp −$44	294.9 bp −$2,949	882.2 bp −$88.2K	1645.9 bp −$823.0K
Sell Polymarket Perps live order book, 2 min ago	3.27 bp	8.7 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2144	+0.464%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2147	+0.616%	$92K	—	150x	as long as short
dYdX ENA-USDlong	+0.0015%	1h	0.2134	long leg	$141K	$15K	5x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.510%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0039%	4h	0.2144	+0.446%	$45K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2146	+0.539%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2147	+0.596%	$56K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2149	+0.689%	$695K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2135	+0.049%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2135	+0.046%	$418K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2136	+0.085%	$132.2M	$445.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2133	−0.056%	$87.6M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2133	−0.042%	$21.0M	$108.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2138	+0.160%	$19K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2144	+0.455%	$117K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.360%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2134	−0.037%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2135	+0.043%	$45.5M	$44.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2135	+0.047%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2133	−0.065%	$48.6M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2133	−0.042%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2143	+0.422%	$383K	$394K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	+0.254%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.692%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	+0.512%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2144	+0.455%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2148	+0.661%	$191K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2092	−1.963%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2142	+0.361%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.577%	$276K	$929K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2142	+0.361%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2133	−0.069%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2145	+0.479%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2147	+0.610%	$8K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2132	−0.124%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2144	+0.473%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0252% / S −0.0206%	1h	0.2147	+0.619%	$51K	—	100x	as long as short
Lighter ENA	+0.0376%	1h	0.2138	+0.155%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2148	+0.652%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0517%	1h	0.2137	+0.113%	$115.7M	$73.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2140	+0.277%	$838K	$1.8M	50x	as long as short