ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0351%/8h= −38.4% APRnext payment −$0.44 per $10,000 · paid last 24h −0.112%

Price spread now: Deribit against Hyperliquid+0.038%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.382%−$38 on $10k

Price spread, last 3 days (all we have)+0.327%+$33 · spread now +0.038%, 7d avg −0.050%

Together, before fees−0.055%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.088% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.050%): +$9 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2095	0.0351	pay 0.0044% / 1h	13m 43s	$110.5M	$80.8M	10x
Short	Deribit ENA_USDC-PERPETUAL	0.2096	0	get 0.0000% / 1h	13m 43s	$93K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$73.64
Price spread: +0.038% → −0.050%: $8.84
Slippage, 4 orders: −$19.05
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$99.85
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Deribit: live order book, just now.

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, 10 min ago	0.24 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, just now	3.82 bp	13.4 bp −$13	17.4 bp −$174	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	−0.0280%	1h	0.2094	−0.038%	$360K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2095	0.000%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2097	+0.076%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2096	+0.038%	$93K	$1.8M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	+0.031%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.346%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0058%	4h	0.2091	−0.215%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2102	+0.339%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	+0.038%	$60K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.219%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2096	+0.026%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2094	−0.068%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	−0.150%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2092	−0.153%	$128.9M	$465.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2091	−0.205%	$87.2M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	−0.172%	$20.2M	$113.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+0.248%	$19K	$424K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	−0.153%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.563%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	−0.158%	$45.8M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2093	−0.119%	$24.2M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−0.253%	$47.3M	$66.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2091	−0.181%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	+0.060%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2100	+0.232%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.212%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2100	+0.229%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.086%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.405%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	+0.038%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.200%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.010%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	+0.044%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2096	+0.060%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0168%	1h	0.2090	−0.235%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2096	+0.015%	$50K	—	100x	as long as short
Lighter ENA	+0.0312%	1h	0.2094	−0.057%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.076%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENAlong	+0.0351%	1h	0.2095	long leg	$110.5M	$80.8M	10x
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−0.001%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	+0.372%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.5658%	1h	0.2094	−0.037%	$138K	$15K	5x	as long as short