Funding you earn now, next payment 12:00 UTC−0.2211%/8h= −242.1% APRnext payment −$11.05 per $10,000 · paid last 24h −0.006%
Price spread now: Phemex against OKX+0.108%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$660.660% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 4 days (all we have)+0.117%+$12 · spread now +0.108%, 7d avg +0.045%
=The price spread pays, funding is against you. Phemex is 0.063% dearer against OKX than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of +0.045%): +$6 on $10k if it goes back. Holding the pair costs −$66 a day in funding at the current rate, which eats that in about 2 hours. Mind the row above: over the last 7 days funding on this pair paid +0.057%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.057% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$11.05 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX ENA-USDT-SWAP | 0.2123 | 0.0100 | pay 0.0050% / 4h | 3h 56m | $21.3M | $108.1M | 50x |
| Short | Phemex ENAUSDT | 0.2125 | −0.2111 | pay 0.1055% / 4h | 3h 56m | $1.9M | $9.0M | 50x |
OKX ENA-USDT-SWAP
Phemex ENAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$464.29
- Price spread: +0.108% → +0.045%
- $6.31
- Slippage, 4 orders
- −$44.04
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$524.02
- Costs to cover
- 0.660%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Phemex: live order book, 3 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 OKX live order book, 3 min ago | 0.23 bp | 11.0 bp −$11 | 21.0 bp −$210 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 11.75 bp | 23.8 bp −$24 | 74.9 bp −$749 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ENAUSDTshort | −0.2111% | 4h | 0.2125 | +0.108% | $1.9M | $9.0M | 50x | |
| GRVT ENA_USDT_Perp | −0.0452% | 4h | 0.2123 | +0.021% | $359K | $4.7M | 10x | as long as short |
| Orderly PERP_ENA_USDC | −0.0081% | 4h | 0.2123 | +0.009% | $44K | $17K | 10x | as long as short |
| 01 Exchange ENAUSD | −0.0072% | 1h | 0.2127 | +0.184% | $4K | $277 | 10x | as long as short |
| dYdX ENA-USD | 0.0000% | 1h | 0.2127 | +0.211% | $141K | $16K | 5x | as long as short |
| Deribit ENA_USDC-PERPETUAL | 0.0000% | 1h | 0.2124 | +0.075% | $76K | $1.1M | 50x | as long as short |
| gTrade (Gains Network) ENA/USD | L +0.0004% / S −0.0004% | 1h | 0.2124 | +0.050% | $82K | — | 150x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | +0.033% | $522 | $57K | 5.5x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2125 | +0.108% | $53K | $486K | 50x | as long as short |
| Nado ENA-PERP | +0.0100% | 1h | 0.2124 | +0.054% | $570K | $1.8M | 10x | as long as short |
GRVT ENA_USDT_Perp
Orderly PERP_ENA_USDC
01 Exchange ENAUSD
dYdX ENA-USD
Deribit ENA_USDC-PERPETUAL
gTrade (Gains Network) ENA/USD
Injective ENA/USDC PERP
Popdex ENAUSDT
Nado ENA-PERPShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid ENA | +0.0100% | 1h | 0.2125 | +0.127% | $115.3M | $75.0M | 10x | as long as short |
| Aster ENAUSDT | +0.0100% | 4h | 0.2125 | +0.129% | $1.4M | $3.3M | 50x | as long as short |
| Pacifica ENA | +0.0100% | 1h | 0.2129 | +0.278% | $410K | $564K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2123 | +0.024% | $129.0M | $426.5M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2123 | +0.014% | $88.7M | $192.0M | 50x | as long as short |
| OKX ENA-USDT-SWAPlong | +0.0100% | 4h | 0.2123 | long leg | $21.3M | $108.1M | 50x | |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2131 | +0.386% | $33K | $313K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2127 | +0.203% | $79K | $281K | 10x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2127 | +0.179% | $93K | $511 | 10x | as long as short |
| Gate ENA_USDT | +0.0100% | 4h | 0.2124 | +0.061% | $13.3M | $26.6M | 50x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2124 | +0.047% | $39.3M | $42.4M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2125 | +0.090% | $25.0M | $15.9M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2121 | −0.090% | $48.1M | $60.4M | 75x | as long as short |
| BingX ENA-USDC | +0.0100% | 4h | 0.2123 | −0.005% | — | $6.5M | — | as long as short |
| Variational Omni ENA | +0.0100% | 4h | 0.2127 | +0.206% | $3.1M | $9.9M | — | as long as short |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2126 | +0.175% | $257K | $7.0M | 20x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2125 | +0.108% | $19K | $646K | 50x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2125 | +0.127% | $175K | $2.7M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2076 | −2.195% | $1K | $913K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2123 | +0.014% | $4K | $7K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2129 | +0.292% | $267K | $807K | 50x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2126 | +0.174% | $48K | $110 | 10x | as long as short |
| Extended ENA-USD | +0.0104% | 1h | 0.2123 | +0.009% | $1.6M | $4.4M | 50x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2124 | +0.055% | $74K | $4K | 3x | as long as short |
| Lighter ENA | +0.0112% | 1h | 0.2125 | +0.127% | $5.0M | $12.5M | 10x | as long as short |
| Phoenix ENA | +0.0190% | 1h | 0.2134 | +0.528% | $13K | $267K | 10x | as long as short |
| Kraken Futures PF_ENAUSD | +0.0196% | 1h | 0.2124 | +0.077% | $2.6M | $4.4M | 50x | as long as short |
| Backpack ENA_USDC_PERP | +0.0292% | 1h | 0.2124 | +0.038% | $411K | $477K | 5x | as long as short |
| GMX ENA/USD [ETH-USDC] | L +0.0307% / S −0.0754% | 1h | 0.2124 | +0.063% | $58K | — | 100x | as long as short |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2134 | +0.509% | $4.8M | $3.4M | 75x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2124 | +0.043% | $1K | — | 15x | as long as short |
| Coinbase International ENA-PERP-INTX | +0.0544% | 1h | 0.2138 | +0.707% | $803K | $2.0M | 50x | as long as short |
Hyperliquid ENA
Aster ENAUSDT
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDT
Ondo Perps ENA-USD.P
Arcus ENA-USD
Bulk ENA-USD
Gate ENA_USDT
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDC
Variational Omni ENA
edgeX ENAUSDC
ApeX Omni ENAUSDT
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Paradex ENA-USD-PERP
Extended ENA-USD
Aevo ENA-PERP
Lighter ENA
Phoenix ENA
Kraken Futures PF_ENAUSD
Backpack ENA_USDC_PERP
GMX ENA/USD [ETH-USDC]
BloFin ENA-USDT
Reya ENARUSDPERP
Coinbase International ENA-PERP-INTX