ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0613%/8h= −67.1% APRnext payment −$0.77 per $10,000 · paid last 24h +0.587%

Price spread now: dYdX against Hyperliquid−0.295%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$638as in the Funding arb table

Net, price: spread back to 7d avg − costs−$737as in the Price arb table

costs, in and out, $10k−$7187.184% of the position

Long on Hyperliquid Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.805%+$81 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.295%, 7d avg −0.114%

Together, before fees+0.977%+ Points / potential airdropHyperliquid: Season 2 · farm board+$98 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and dYdX is 0.181% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.114%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.805%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2125	0.0660	pay 0.0083% / 1h	43m 08s	$114.5M	$76.4M	10x
Short	dYdX ENA-USD	0.2118	0.0048	get 0.0006% / 1h	43m 08s	$140K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.295%Rate

Funding earned: −$128.69
Price spread: −0.295% → −0.114%: −$18.14
Slippage, 4 orders: −$699.42
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$865.25
Costs to cover: 7.184%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; dYdX: live order book, 31 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, 11 min ago	1.88 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 31 min ago	195.88 bp	352.0 bp −$352	615.6 bp −$6,156	781.5 bp −$78.1K	1519.3 bp −$759.6K

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	−0.0052%	1h	0.2115	−0.466%	$376K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2120	−0.217%	$91K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2121	−0.165%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0021%	4h	0.2119	−0.254%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.061%	$522	$57K	5.5x	as long as short
dYdX ENA-USDshort	+0.0048%	1h	0.2118	−0.295%	$140K	$15K	5x
Gate ENA_USDT	+0.0094%	4h	0.2121	−0.188%	$10.8M	$20.7M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	−0.221%	$63K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.219%	$670K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	−0.184%	$1.5M	$3.3M	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	0.2119	−0.249%	$411K	$555K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.245%	$131.5M	$446.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	−0.297%	$89.1M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	−0.301%	$20.7M	$109.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.367%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	−0.221%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.551%	$89K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.264%	$46.4M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	−0.141%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.325%	$48.1M	$62.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2119	−0.273%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.484%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−0.441%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.394%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.362%	$34K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	−0.160%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.509%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	−0.221%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.179%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	−0.221%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	−0.255%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2120	−0.235%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2117	−0.362%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2122	−0.118%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0235%	1h	0.2121	−0.182%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2121	−0.187%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0264%	1h	0.2119	−0.268%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−0.113%	$5.6M	$3.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2121	−0.197%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0584%	1h	0.2122	−0.132%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2121	−0.174%	$837K	$1.9M	50x	as long as short
Hyperliquid ENAlong	+0.0660%	1h	0.2125	long leg	$114.5M	$76.4M	10x