Funding you earn now, next payment 01:00 UTC+0.0546%/8h= +59.7% APRnext payment +$0.68 per $10,000 · paid last 24h +0.215%
Price spread now: Lighter against Kraken Futures+0.094%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$500.496% of the position
Funding, last 7 days+0.305%+$30 on $10k
+Price spread, last 3 days (all we have)−0.327%−$33 · spread now +0.094%, 7d avg +0.039%
=Together, before fees−0.022%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Lighter is 0.055% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.039%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.305% in total (about 15.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.68 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 | Kraken Futures PF_ENAUSD | 0.2168 | 0.0230 | pay 0.0029% / 1h | 6m 56s | $2.7M | $5.1M | 50x |
| Short | Lighter ENA | 0.2170 | 0.0776 | get 0.0097% / 1h | 6m 56s | $5.9M | $13.2M | 10x |
Kraken Futures PF_ENAUSD
Lighter ENAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $114.59
- Price spread: +0.094% → +0.039%
- $5.54
- Slippage, 4 orders
- −$39.6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $70.53
- Costs to cover
- 0.496%
- Break-even
- 2.7 days
Slippage from Kraken Futures: live order book, 2 min ago; Lighter: live order book, 7 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 Kraken Futures live order book, 2 min ago | 13.63 bp | 18.7 bp −$19 | 23.4 bp −$234 | 108.3 bp −$10.8K | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.92 bp | 1.7 bp −$2 | 4.3 bp −$43 | 465.8 bp −$46.6K | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ENA/USD | L +0.0003% / S −0.0004% | 1h | 0.2166 | −0.103% | $93K | — | 150x | as long as short |
| Deribit ENA_USDC-PERPETUAL | +0.0027% | 1h | 0.2167 | −0.039% | $81K | $1.6M | 50x | as long as short |
| Orderly PERP_ENA_USDC | +0.0031% | 4h | 0.2166 | −0.099% | $42K | $23K | 10x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | −2.064% | $522 | $57K | 5.5x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2166 | −0.099% | $53K | $523K | 50x | as long as short |
| Nado ENA-PERP | +0.0100% | 1h | 0.2165 | −0.148% | $721K | $1.8M | 10x | as long as short |
| Aster ENAUSDT | +0.0100% | 4h | 0.2167 | −0.074% | $1.6M | $3.3M | 50x | as long as short |
| Pacifica ENA | +0.0100% | 1h | 0.2168 | −0.025% | $427K | $550K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2158 | −0.454% | $134.9M | $441.3M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2157 | −0.514% | $88.7M | $186.1M | 50x | as long as short |
gTrade (Gains Network) ENA/USD
Deribit ENA_USDC-PERPETUAL
Orderly PERP_ENA_USDC
Injective ENA/USDC PERP
Popdex ENAUSDT
Nado ENA-PERP
Aster ENAUSDT
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ENA-USDT-SWAP | +0.0100% | 4h | 0.2158 | −0.487% | $21.3M | $110.4M | 50x | as long as short |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2171 | +0.118% | $16K | $416K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2167 | −0.053% | $107K | $242K | 10x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2167 | −0.053% | $95K | $4K | 10x | as long as short |
| Gate ENA_USDT | +0.0100% | 4h | 0.2157 | −0.501% | $11.0M | $21.6M | 50x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2162 | −0.275% | $45.7M | $45.2M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2165 | −0.141% | $24.9M | $16.4M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2160 | −0.381% | $49.0M | $61.1M | 75x | as long as short |
| BingX ENA-USDC | +0.0100% | 4h | 0.2157 | −0.501% | — | $6.5M | — | as long as short |
| Backpack ENA_USDC_PERP | +0.0100% | 1h | 0.2167 | −0.053% | $385K | $377K | 5x | as long as short |
| Variational Omni ENA | +0.0100% | 4h | 0.2158 | −0.482% | $3.9M | $10.1M | — | as long as short |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2169 | +0.020% | $250K | $7.5M | 20x | as long as short |
| GRVT ENA_USDT_Perp | +0.0100% | 4h | 0.2169 | +0.059% | $361K | $4.6M | 10x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2169 | +0.039% | $33K | $686K | 50x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2166 | −0.099% | $181K | $2.4M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2115 | −2.456% | $1K | $833K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2166 | −0.099% | $4K | $10K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2170 | +0.099% | $281K | $1.1M | 50x | as long as short |
| Phemex ENAUSDT | +0.0100% | 4h | 0.2167 | −0.053% | $1.9M | $9.4M | 50x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2167 | −0.042% | $49K | $110 | 10x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2167 | −0.067% | $76K | $4K | 3x | as long as short |
| Phoenix ENA | +0.0150% | 1h | 0.2169 | +0.048% | $8K | $347K | 10x | as long as short |
| dYdX ENA-USD | +0.0168% | 1h | 0.2165 | −0.158% | $143K | $15K | 5x | as long as short |
| 01 Exchange ENAUSD | +0.0176% | 1h | 0.2165 | −0.164% | $4K | $302 | 10x | as long as short |
| Kraken Futures PF_ENAUSDlong | +0.0230% | 1h | 0.2168 | long leg | $2.7M | $5.1M | 50x | |
| GMX ENA/USD [ETH-USDC] | L +0.0334% / S −0.0430% | 1h | 0.2166 | −0.102% | $82K | — | 100x | as long as short |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2166 | −0.104% | $5.7M | $2.0M | 75x | as long as short |
| Extended ENA-USD | +0.0360% | 1h | 0.2161 | −0.334% | $1.6M | $4.3M | 50x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2164 | −0.180% | $1K | $5K | 15x | as long as short |
| Coinbase International ENA-PERP-INTX | +0.0608% | 1h | 0.2172 | +0.168% | $859K | $1.8M | 50x | as long as short |
| Lighter ENAshort | +0.0776% | 1h | 0.2170 | +0.094% | $5.9M | $13.2M | 10x | |
| Hyperliquid ENA | +0.0783% | 1h | 0.2169 | +0.034% | $117.9M | $73.9M | 10x | as long as short |
OKX ENA-USDT-SWAP
Ondo Perps ENA-USD.P
Arcus ENA-USD
Bulk ENA-USD
Gate ENA_USDT
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDC
Backpack ENA_USDC_PERP
Variational Omni ENA
edgeX ENAUSDC
GRVT ENA_USDT_Perp
ApeX Omni ENAUSDT
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Phemex ENAUSDT
Paradex ENA-USD-PERP
Aevo ENA-PERP
Phoenix ENA
dYdX ENA-USD
01 Exchange ENAUSD
GMX ENA/USD [ETH-USDC]
BloFin ENA-USDT
Extended ENA-USD
Reya ENARUSDPERP
Coinbase International ENA-PERP-INTX
Hyperliquid ENA