ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0466%/8h= −51.0% APRnext payment −$0.58 per $10,000 · paid last 24h −0.074%

Price spread now: Arcus against Hyperliquid−0.165%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Hyperliquid Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.205%−$21 on $10k

Price spread, last 4 days (all we have)−0.302%−$30 · spread now −0.165%, 7d avg −0.065%

Together, before fees−0.507%+ Points / potential airdropHyperliquid: Season 2 · farm board−$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Arcus is 0.100% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2125	0.0566	pay 0.0071% / 1h	45m 34s	$112.9M	$80.4M	10x
Short	Arcus ENA-USD	0.2122	0.0100	get 0.0013% / 1h	45m 34s	$84K	$222K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Hyperliquid. 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 HyperliquidbpFee ArcusbpOrdersPrice spread, now −0.165%Rate

Funding earned: −$97.9
Price spread: −0.165% → −0.065%: −$9.96
Slippage, 4 orders: −$20.87
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$142.23
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Arcus: live order book, 3 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 Hyperliquid live order book, 4 min ago	0.23 bp	4.7 bp −$5	7.5 bp −$75	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	4.71 bp	7.0 bp −$7	21.5 bp −$215	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	−0.0432%	1h	0.2122	−0.151%	$365K	$493K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0132%	4h	0.2122	−0.165%	$42K	$22K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2122	−0.160%	$4K	$432	10x	as long as short
Phoenix ENA	0.0000%	1h	0.2122	−0.169%	$5K	$391K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2123	−0.113%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.090%	$97K	—	150x	as long as short
Kraken Futures PF_ENAUSD	+0.0015%	1h	0.2123	−0.119%	$2.7M	$6.1M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.099%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0060%	4h	0.2121	−0.207%	$10.6M	$22.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.259%	$57K	$555K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2121	−0.234%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.242%	$653K	$1.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	−0.167%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2122	−0.177%	$407K	$616K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2121	−0.222%	$131.5M	$475.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2120	−0.249%	$89.9M	$197.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	−0.207%	$20.3M	$118.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	−0.174%	$20K	$454K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2122	−0.165%	$84K	$222K	10x
Bulk ENA-USD	+0.0100%	1h	0.2124	−0.047%	$90K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−0.221%	$47.2M	$49.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	−0.174%	$23.6M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	−0.268%	$48.6M	$66.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2121	−0.226%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.278%	$3.8M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.202%	$253K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	−0.210%	$365K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	−0.165%	$31K	$716K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	−0.183%	$193K	$3.2M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.574%	$1K	$794K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.212%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.202%	$275K	$1.7M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.212%	$1.9M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−0.250%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.141%	$78K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0186% / S −0.0276%	1h	0.2123	−0.119%	$38K	—	100x	as long as short
Lighter ENA	+0.0280%	1h	0.2124	−0.066%	$5.7M	$13.4M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	−0.207%	$5.6M	$8.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.243%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0456%	1h	0.2125	−0.009%	$811K	$2.4M	50x	as long as short
Hyperliquid ENAlong	+0.0566%	1h	0.2125	long leg	$112.9M	$80.4M	10x
dYdX ENA-USD	+0.6126%	1h	0.2122	−0.168%	$140K	$12K	5x	as long as short