ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0038%/8h= −4.1% APRnext payment −$0.05 per $10,000 · paid last 24h +0.098%

Price spread now: Lighter against Hyperliquid+0.010%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 7 days+0.016%+$2 · spread now +0.010%, 7d avg +0.014%

Together, before fees+0.223%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.206%, 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	0.2094	0.0350	pay 0.0044% / 1h	13m 11s	$110.4M	$80.8M	10x
Short	Lighter ENA	0.2094	0.0312	get 0.0039% / 1h	13m 11s	$5.6M	$13.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$7.96
Price spread: +0.010% → +0.014%: −$0.48
Slippage, 4 orders: −$15.78
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$33.22
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Lighter: live order book, 5 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	0.24 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.66 bp	5.1 bp −$5	20.5 bp −$205	455.1 bp −$45.5K	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	−0.0285%	1h	0.2092	−0.096%	$360K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2091	−0.119%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2091	−0.115%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2092	−0.096%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.101%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.428%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0058%	4h	0.2090	−0.153%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.048%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2090	−0.167%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.138%	$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	0.2091	−0.105%	$656K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2092	−0.062%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	−0.069%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.139%	$128.9M	$465.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.177%	$87.2M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2091	−0.124%	$20.2M	$113.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+0.330%	$19K	$424K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	−0.072%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.645%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2091	−0.134%	$45.8M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	−0.072%	$24.2M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.191%	$47.3M	$66.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2091	−0.129%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	+0.141%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	+0.196%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.293%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.215%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	−0.100%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.546%	$925	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.119%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.115%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	−0.119%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	−0.075%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2092	−0.090%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2090	−0.169%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2091	−0.109%	$50K	—	100x	as long as short
Lighter ENAshort	+0.0312%	1h	0.2094	+0.010%	$5.6M	$13.2M	10x
BloFin ENA-USDT	+0.0340%	4h	0.2091	−0.105%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENAlong	+0.0350%	1h	0.2094	long leg	$110.4M	$80.8M	10x
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.167%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	+0.454%	$805K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5658%	1h	0.2094	+0.044%	$138K	$15K	5x	as long as short