ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0009%/8h= +1.0% APRnext payment +$0.01 per $10,000 · paid last 24h −0.010%

Price spread now: Phoenix against Extended−0.545%108s7-day average +0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as 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−$430.432% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.912%+$91 · spread now −0.545%, 7d avg +0.157%

Together, before fees+0.970%+ Points / potential airdropExtended: Active · farm board+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.702% cheaper against Extended than usual: you would sell low and buy high (spread −0.545% now, against its 7-day average of +0.157%). If the spread goes back, that is −$70 on $10k: about 8 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.057% in total) that is about 3 months. The two prices were read 108 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	Extended ENA-USD	0.2107	0.0104	pay 0.0013% / 1h	31m 39s	$1.6M	$4.2M	50x
Short	Phoenix ENA	0.2095	0.0113	get 0.0014% / 1h	31m 39s	$8K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Extended. 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 ExtendedbpFee PhoenixbpOrdersPrice spread, now −0.545%Rate

Funding earned: $1.98
Price spread: −0.545% → +0.157%: −$70.22
Slippage, 4 orders: −$31.21
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$111.45
Costs to cover: 0.432%
Break-even: 400.6 days

Slippage from Extended: live order book, 2 min ago; Phoenix: live order book, 19 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 Extended live order book, 2 min ago	0.24 bp	4.9 bp −$5	14.1 bp −$141	doesn't fit	doesn't fit
Sell Phoenix live order book, 19 min ago	1.89 bp	16.8 bp −$17	51.7 bp −$517	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
Backpack ENA_USDC_PERP	−0.0132%	1h	0.2102	−0.232%	$358K	$403K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0096%	4h	0.2101	−0.274%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2102	−0.227%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2101	−0.268%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.779%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2100	−0.317%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.379%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2101	−0.272%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2100	−0.348%	$653K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2103	−0.191%	$1.4M	$3.2M	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	0.2104	−0.158%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.180%	$127.6M	$413.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.146%	$85.2M	$174.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2106	−0.051%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.350%	$22K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	+0.048%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.426%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2105	−0.094%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	−0.146%	$45.6M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	−0.042%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	−0.127%	$47.8M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2107	+0.010%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.589%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	−0.531%	$240K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2097	−0.459%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2102	−0.237%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	−0.293%	$191K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.752%	$983	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2101	−0.284%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2103	−0.194%	$272K	$790K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.237%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2107	long leg	$1.6M	$4.2M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2103	−0.206%	$74K	$4K	3x	as long as short
Phoenix ENAshort	+0.0113%	1h	0.2095	−0.545%	$8K	$274K	10x
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2103	−0.210%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2104	−0.123%	$5.2M	$13.2M	10x	as long as short
Hyperliquid ENA	+0.0257%	1h	0.2105	−0.108%	$114.4M	$74.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2102	−0.253%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	−0.241%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.356%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2103	−0.180%	$859K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1091%	1h	0.2104	−0.155%	$139K	$15K	5x	as long as short