ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.24 per $10,000 · paid last 24h −0.177%

Price spread now: Polymarket Perps against Lighter−0.100%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.672%−$67 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.100%, 7d avg −0.076%

Together, before fees−0.569%+ Points / potential airdropLighter: Season 3 · farm board−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Polymarket Perps is 0.024% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ENA	0.2101	0.0288	pay 0.0036% / 1h	32m 55s	$5.7M	$13.1M	10x
Short	Polymarket Perps ENA-USD	0.2099	0.0100	get 0.0013% / 1h	32m 55s	$181K	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$39.48
Price spread: −0.100% → −0.076%: −$2.36
Slippage, 4 orders: −$10.43
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$60.26
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Polymarket Perps: live order book, 6 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, 6 min ago	0.24 bp	2.2 bp −$2	4.0 bp −$40	101.2 bp −$10.1K	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	2.87 bp	6.9 bp −$7	8.0 bp −$80	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
Backpack ENA_USDC_PERP	−0.0316%	1h	0.2099	−0.081%	$361K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2097	−0.176%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2098	−0.157%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	−0.100%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	−0.130%	$96K	—	150x	as long as short
Gate ENA_USDT	+0.0010%	4h	0.2098	−0.162%	$10.4M	$21.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.066%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.262%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.190%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.197%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.196%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2098	−0.137%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	−0.167%	$403K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.110%	$129.4M	$467.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	−0.171%	$87.8M	$193.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	−0.119%	$20.2M	$114.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.500%	$19K	$433K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	−0.143%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.333%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.114%	$44.7M	$48.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2099	−0.095%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.205%	$47.5M	$66.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2098	−0.152%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.429%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.370%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.353%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.381%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2099	−0.100%	$181K	$3.0M	10x
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.546%	$1K	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	−0.143%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2100	−0.048%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2098	−0.143%	$1.9M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2099	−0.076%	$2.7M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.154%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	−0.147%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2098	−0.134%	$50K	—	100x	as long as short
Lighter ENAlong	+0.0288%	1h	0.2101	long leg	$5.7M	$13.1M	10x
Hyperliquid ENA	+0.0300%	1h	0.2101	−0.014%	$110.9M	$80.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2098	−0.129%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.180%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	−0.010%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8864%	1h	0.2098	−0.147%	$139K	$15K	5x	as long as short