ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0098%/8h= +10.8% APRnext payment +$0.12 per $10,000 · paid last 24h −0.167%

Price spread now: Kraken Futures against Lighter−0.111%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 4 days (all we have)+0.898%+$90 · spread now −0.111%, 7d avg −0.048%

Together, before fees+0.625%+ Points / potential airdropLighter: Season 3 · farm board+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.064% cheaper against Lighter than usual: you would sell low and buy high (spread −0.111% now, against its 7-day average of −0.048%). If the spread goes back, that is −$6 on $10k: about 2.2 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.273%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ENA	0.2149	0.0096	pay 0.0012% / 1h	49m 06s	$5.1M	$12.7M	10x
Short	Kraken Futures PF_ENAUSD	0.2146	0.0194	get 0.0024% / 1h	49m 06s	$2.6M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.111%Rate

Funding earned: $20.66
Price spread: −0.111% → −0.048%: −$6.36
Slippage, 4 orders: −$28.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$24.08
Costs to cover: 0.384%
Break-even: 15.2 days

Slippage from Lighter: live order book, 4 min ago; Kraken Futures: live order book, 5 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, 4 min ago	1.17 bp	1.8 bp −$2	9.7 bp −$97	259.5 bp −$25.9K	doesn't fit
Sell Kraken Futures live order book, 5 min ago	5.86 bp	22.9 bp −$23	31.0 bp −$310	111.1 bp −$11.1K	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
Phemex ENAUSDT	−0.1341%	4h	0.2146	−0.126%	$1.9M	$9.0M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2146	−0.107%	$45K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2147	−0.079%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2148	−0.028%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2147	−0.102%	$83K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.177%	$522	$57K	5.5x	as long as short
Lighter ENAlong	+0.0096%	1h	0.2149	long leg	$5.1M	$12.7M	10x
Popdex ENAUSDT	+0.0096%	1h	0.2146	−0.126%	$54K	$488K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	−0.119%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2146	−0.112%	$578K	$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	0.2149	−0.009%	$116.7M	$75.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2148	−0.032%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2146	−0.126%	$414K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2147	−0.057%	$130.4M	$426.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2147	−0.088%	$89.4M	$192.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2147	−0.065%	$21.5M	$109.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2133	−0.749%	$33K	$314K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2147	−0.079%	$80K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−1.033%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2147	−0.070%	$13.5M	$26.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2147	−0.065%	$39.8M	$42.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2148	−0.028%	$25.3M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2145	−0.168%	$48.6M	$60.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2147	−0.084%	—	$31.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2135	−0.619%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2131	−0.808%	$258K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2132	−0.777%	$363K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2132	−0.777%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2147	−0.102%	$176K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2096	−2.439%	$1K	$914K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2147	−0.079%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2153	+0.214%	$270K	$807K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2147	−0.097%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2147	−0.063%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2138	−0.512%	$13K	$267K	10x	as long as short
dYdX ENA-USD	+0.0158%	1h	0.2145	−0.181%	$142K	$16K	5x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0194%	1h	0.2146	−0.111%	$2.6M	$4.4M	50x
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0754%	1h	0.2148	−0.055%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2147	−0.061%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2147	−0.097%	$1K	—	15x	as long as short
Backpack ENA_USDC_PERP	+0.0521%	1h	0.2148	−0.014%	$416K	$481K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2150	+0.051%	$799K	$2.0M	50x	as long as short