ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0152%/8h= −16.7% APRnext payment −$0.19 per $10,000 · paid last 24h −0.042%

Price spread now: Backpack against Ondo Perps−0.099%7-day average −0.003% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.099%, 7d avg −0.003%

Together, before fees+0.168%+ Points / potential airdropOndo Perps: Active · farm board+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Backpack is 0.096% cheaper against Ondo Perps than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2117	0.0100	pay 0.0013% / 1h	43m 28s	$15K	$399K	5x
Short	Backpack ENA_USDC_PERP	0.2115	−0.0052	pay 0.0007% / 1h	43m 28s	$376K	$417K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Ondo Perps. 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 Ondo PerpsbpFee BackpackbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$31.99
Price spread: −0.099% → −0.003%: −$9.65
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$56.63
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Backpack: live order book, 30 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Backpack live order book, 30 min ago	0.23 bp	6.2 bp −$6	38.8 bp −$388	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_PERPshort	−0.0052%	1h	0.2115	−0.099%	$376K	$417K	5x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2112	−0.213%	$91K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2121	+0.203%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0021%	4h	0.2119	+0.113%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.307%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0048%	1h	0.2118	+0.072%	$140K	$15K	5x	as long as short
Gate ENA_USDT	+0.0094%	4h	0.2121	+0.180%	$10.8M	$20.7M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2120	+0.146%	$63K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	+0.149%	$670K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	+0.151%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2119	+0.119%	$411K	$555K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2121	+0.198%	$131.6M	$446.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2120	+0.137%	$89.2M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.132%	$20.7M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2117	long leg	$15K	$399K	5x
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.146%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.184%	$89K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	+0.208%	$46.4M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2123	+0.269%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	+0.146%	$48.1M	$62.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2121	+0.203%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−0.117%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−0.074%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.027%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.005%	$34K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	+0.208%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.518%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2113	−0.184%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.005%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	−0.137%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2119	+0.112%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2120	+0.132%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2117	+0.005%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2122	+0.250%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2115	−0.093%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2121	+0.181%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0256%	1h	0.2118	+0.052%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2116	−0.033%	$5.6M	$3.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2121	+0.171%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0584%	1h	0.2122	+0.241%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2121	+0.194%	$837K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0660%	1h	0.2125	+0.368%	$114.5M	$76.4M	10x	as long as short