ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h −0.020%

Price spread now: Coinbase International against Lighter+0.032%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$490.486% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.032%, 7d avg +0.043%

Together, before fees−0.007%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.043%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ENA	0.2164	0.0736	pay 0.0092% / 1h	13m 01s	$5.9M	$13.1M	10x
Short	Coinbase International ENA-PERP-INTX	0.2165	0.0608	get 0.0076% / 1h	13m 01s	$857K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$26.88
Price spread: +0.032% → +0.043%: −$1.06
Slippage, 4 orders: −$38.57
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$76.51
Costs to cover: 0.486%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Coinbase International: live order book, 1 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	0.23 bp	1.8 bp −$2	9.4 bp −$94	263.3 bp −$26.3K	doesn't fit
Sell Coinbase International live order book, 1 min ago	12.25 bp	23.7 bp −$24	25.4 bp −$254	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	0.2160	−0.176%	$81K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2160	−0.182%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2159	−0.236%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.881%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0065%	1h	0.2162	−0.108%	$143K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2161	−0.143%	$52K	$517K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2160	−0.176%	$714K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2163	−0.069%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2161	−0.152%	$426K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2160	−0.189%	$134.8M	$442.8M	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	0.2159	−0.217%	$88.9M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2160	−0.194%	$21.2M	$110.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2156	−0.388%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2161	−0.143%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.648%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2161	−0.152%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2160	−0.199%	$46.0M	$44.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2161	−0.125%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2158	−0.291%	$48.9M	$61.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2160	−0.189%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2162	−0.106%	$384K	$398K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2157	−0.318%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	−0.248%	$250K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2159	−0.236%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2159	−0.236%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2162	−0.111%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2109	−2.523%	$1K	$834K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2161	−0.143%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2163	−0.051%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2160	−0.189%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2160	−0.200%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2160	−0.179%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2162	−0.102%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2160	−0.171%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2162	−0.091%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2159	−0.242%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2160	−0.197%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2160	−0.166%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2160	−0.175%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0608%	1h	0.2165	+0.032%	$857K	$1.8M	50x
Lighter ENAlong	+0.0736%	1h	0.2164	long leg	$5.9M	$13.1M	10x
Hyperliquid ENA	+0.0777%	1h	0.2164	0.000%	$117.7M	$74.7M	10x	as long as short