ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0460%/8h= −50.4% APRnext payment −$0.58 per $10,000 · paid last 24h −0.161%

Price spread now: Arcus against Lighter−0.066%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$270.274% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.434%−$43 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now −0.066%, 7d avg −0.089%

Together, before fees−0.551%+ Points / potential airdropLighter: Season 3 · farm board−$55 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.023% dearer against Lighter than usual: you sell high and buy low (spread −0.066% now, against its 7-day average of −0.089%): +$2 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ENA	0.2130	0.0560	pay 0.0070% / 1h	3m 12s	$5.6M	$12.9M	10x
Short	Arcus ENA-USD	0.2129	0.0100	get 0.0013% / 1h	3m 12s	$84K	$222K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$96.6
Price spread: −0.066% → −0.089%: $2.29
Slippage, 4 orders: −$22.89
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$121.7
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Arcus: live order book, 10 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 Lighter live order book, 5 min ago	0.70 bp	2.0 bp −$2	10.4 bp −$104	262.9 bp −$26.3K	doesn't fit
Sell Arcus live order book, 10 min ago	7.04 bp	13.9 bp −$14	29.6 bp −$296	doesn't fit	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	−0.070%	$95K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2129	−0.083%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0012%	4h	0.2128	−0.127%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.329%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0057%	1h	0.2129	−0.075%	$379K	$445K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2128	−0.113%	$63K	$527K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2128	−0.127%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	−0.094%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2128	−0.095%	$411K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	−0.141%	$131.9M	$449.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2127	−0.160%	$89.3M	$189.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	−0.131%	$20.7M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	−0.141%	$15K	$395K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2129	−0.066%	$84K	$222K	10x
Bulk ENA-USD	+0.0100%	1h	0.2126	−0.210%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	−0.164%	$10.8M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	−0.146%	$46.5M	$45.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	−0.080%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	−0.207%	$48.2M	$63.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2127	−0.150%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	−0.424%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2122	−0.392%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.341%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	−0.347%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	−0.080%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.464%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	−0.113%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	−0.019%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	−0.160%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2127	−0.149%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2130	−0.018%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2125	−0.268%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2130	−0.028%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2129	−0.043%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2127	−0.157%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2128	−0.103%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	−0.141%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2128	−0.122%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2133	+0.141%	$842K	$1.9M	50x	as long as short
Lighter ENAlong	+0.0560%	1h	0.2130	long leg	$5.6M	$12.9M	10x
Hyperliquid ENA	+0.0744%	1h	0.2131	+0.014%	$114.9M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1097%	1h	0.2128	−0.120%	$141K	$15K	5x	as long as short