ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h +0.515%

Price spread now: dYdX against Lighter−0.109%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$970.965% of the position

Long on Lighter Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.611%+$61 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.109%, 7d avg −0.129%

Together, before fees+0.636%+ Points / potential airdropLighter: Season 3 · farm board+$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.020% dearer against Lighter than usual: you sell high and buy low (spread −0.109% now, against its 7-day average of −0.129%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 7 days funding on this pair paid +0.611%, 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	Lighter ENA	0.2130	0.0112	pay 0.0014% / 1h	56m 20s	$5.0M	$12.5M	10x
Short	dYdX ENA-USD	0.2127	0	get 0.0000% / 1h	56m 20s	$141K	$16K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$23.52
Price spread: −0.109% → −0.129%: $2.03
Slippage, 4 orders: −$86.51
Fee Lighter: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$118
Costs to cover: 0.965%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; dYdX: live order book, 43 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, 7 min ago	0.24 bp	2.1 bp −$2	4.4 bp −$44	196.5 bp −$19.7K	doesn't fit
Sell dYdX live order book, 43 min ago	37.93 bp	42.9 bp −$43	384.2 bp −$3,842	823.7 bp −$82.4K	1524.0 bp −$762.0K

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
Phemex ENAUSDT	−0.5222%	4h	0.2133	+0.164%	$1.9M	$9.0M	50x	as long as short
GRVT ENA_USDT_Perp	−0.0452%	4h	0.2123	−0.299%	$359K	$4.7M	10x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2123	−0.310%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2127	−0.136%	$4K	$277	10x	as long as short
dYdX ENA-USDshort	0.0000%	1h	0.2127	−0.109%	$141K	$16K	5x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2134	+0.207%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	−0.270%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.286%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.211%	$53K	$486K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.265%	$570K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2125	−0.193%	$115.3M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	−0.166%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2129	−0.042%	$410K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.263%	$129.1M	$426.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2123	−0.305%	$88.7M	$192.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	−0.263%	$21.3M	$108.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2131	+0.066%	$33K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	−0.117%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−0.140%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.258%	$13.3M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	−0.211%	$39.4M	$42.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	−0.164%	$25.0M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.333%	$48.1M	$60.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2124	−0.263%	—	$31.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2127	−0.114%	$3.1M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2126	−0.145%	$257K	$7.0M	20x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	−0.211%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	−0.193%	$175K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2083	−2.193%	$1K	$912K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2133	+0.164%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	+0.254%	$268K	$807K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	−0.146%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2126	−0.167%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	−0.265%	$74K	$4K	3x	as long as short
Lighter ENAlong	+0.0112%	1h	0.2130	long leg	$5.0M	$12.5M	10x
Phoenix ENA	+0.0190%	1h	0.2134	+0.207%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2134	+0.190%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0754%	1h	0.2124	−0.257%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2134	+0.188%	$4.8M	$3.4M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0372%	1h	0.2134	+0.193%	$413K	$477K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.277%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2138	+0.385%	$803K	$2.0M	50x	as long as short