ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0314%/8h= −34.3% APRnext payment −$0.39 per $10,000 · paid last 24h −0.010%

Price spread now: Backpack against Injective−1.366%72s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Backpack is 1.366% cheaper against Injective than usual: you would sell low and buy high (−$137 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.142% in total (about -7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ENA/USDC PERP	0.2123	0.0033	pay 0.0004% / 1h	13m 45s	$522	$57K	5.5x
Short	Backpack ENA_USDC_PERP	0.2094	−0.0280	pay 0.0035% / 1h	13m 45s	$360K	$484K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. 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 InjectivebpFee BackpackbpOrdersPrice spread, now −1.366%Rate

Funding earned: −$65.86
Price spread: −1.366% → 0.000%: −$136.57
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$212.45
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 10 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 10 min ago	0.24 bp	8.2 bp −$8	40.9 bp −$409	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_PERPshort	−0.0280%	1h	0.2094	−1.366%	$360K	$484K	5x
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2095	−1.328%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2097	−1.253%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	−1.290%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	−1.298%	$96K	—	150x	as long as short
Injective ENA/USDC PERPlong	+0.0033%	1h	0.2123	long leg	$522	$57K	5.5x
Gate ENA_USDT	+0.0058%	4h	0.2091	−1.540%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2102	−0.994%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2096	−1.290%	$60K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−1.544%	$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	−1.302%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2094	−1.395%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	−1.476%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2092	−1.479%	$128.9M	$465.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2091	−1.531%	$87.2M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	−1.498%	$20.2M	$113.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−1.083%	$19K	$424K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	−1.479%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.772%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	−1.483%	$45.8M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2093	−1.446%	$24.2M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−1.578%	$47.3M	$66.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2091	−1.507%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	−1.269%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2100	−1.099%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	−1.119%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2100	−1.102%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	−1.243%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−3.702%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−1.290%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	−1.130%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−1.337%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	−1.285%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2096	−1.269%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0168%	1h	0.2090	−1.560%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2096	−1.313%	$50K	—	100x	as long as short
Lighter ENA	+0.0312%	1h	0.2094	−1.385%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−1.253%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0351%	1h	0.2095	−1.328%	$110.5M	$80.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2095	−1.329%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	−0.961%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.5658%	1h	0.2094	−1.365%	$138K	$15K	5x	as long as short