ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h −0.135%

Price spread now: Kraken Futures against Hyperliquid−0.097%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 3 days (all we have)+0.854%+$85 · spread now −0.097%, 7d avg −0.014%

Together, before fees+0.748%+ Points / potential airdropHyperliquid: Season 2 · farm board+$75 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.082% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2101	0.0201	pay 0.0025% / 1h	50m 38s	$111.6M	$80.7M	10x
Short	Kraken Futures PF_ENAUSD	0.2099	0.0104	get 0.0013% / 1h	50m 38s	$2.7M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$20.32
Price spread: −0.097% → −0.014%: −$8.25
Slippage, 4 orders: −$40.92
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$88.48
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Kraken Futures: 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, 3 min ago	1.19 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	12.60 bp	20.5 bp −$21	30.3 bp −$303	354.5 bp −$35.4K	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	−0.0486%	1h	0.2098	−0.133%	$361K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0096%	4h	0.2096	−0.228%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2099	−0.076%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0012%	4h	0.2098	−0.124%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.143%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	−0.143%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.066%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2103	+0.090%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.143%	$59K	$545K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.114%	$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	0.2099	−0.102%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2098	−0.127%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	−0.086%	$403K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.086%	$130.1M	$472.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.067%	$88.0M	$195.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2100	−0.033%	$20.2M	$115.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2103	+0.109%	$19K	$446K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.095%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.048%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.100%	$45.2M	$48.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	−0.067%	$24.3M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.167%	$47.5M	$67.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2098	−0.124%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.297%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2102	+0.033%	$252K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	+0.171%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2101	0.000%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−0.176%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.542%	$856	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.238%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	−0.133%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.190%	$1.8M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0104%	1h	0.2099	−0.097%	$2.7M	$5.9M	50x
Extended ENA-USD	+0.0104%	1h	0.2099	−0.113%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.190%	$77K	$11K	3x	as long as short
Lighter ENA	+0.0120%	1h	0.2101	+0.010%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENAlong	+0.0201%	1h	0.2101	long leg	$111.6M	$80.7M	10x
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2098	−0.164%	$50K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2096	−0.228%	$5.6M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.231%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2104	+0.124%	$804K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.7578%	1h	0.2099	−0.086%	$139K	$12K	5x	as long as short