ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0015%/8h= +1.7% APRnext payment +$0.02 per $10,000 · paid last 24h +0.013%

Price spread now: Phoenix against Pacifica+0.152%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on Pacifica Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now +0.152%, 7d avg +0.104%

Together, before fees+0.187%+ Points / potential airdropPacifica: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Phoenix is 0.049% dearer against Pacifica than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2119	0.0100	pay 0.0013% / 1h	58m 58s	$410K	$573K	10x
Short	Phoenix ENA	0.2122	0.0115	get 0.0014% / 1h	58m 58s	$5K	$347K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Pacifica. 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 PacificabpFee PhoenixbpOrdersPrice spread, now +0.152%Rate

Funding earned: $3.18
Price spread: +0.152% → +0.104%: $4.88
Slippage, 4 orders: −$33.27
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$40.21
Costs to cover: 0.483%
Break-even: 95.5 days

Slippage from Pacifica: live order book, 20 min ago; Phoenix: live order book, 17 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 Pacifica live order book, 20 min ago	1.43 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 17 min ago	1.91 bp	16.6 bp −$17	51.7 bp −$517	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	−0.0182%	1h	0.2117	−0.098%	$374K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0036%	4h	0.2116	−0.140%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	−0.093%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2117	−0.091%	$105K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.209%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.140%	$63K	$530K	50x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.041%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2119	long leg	$410K	$573K	10x
Binance ENAUSDT	+0.0100%	4h	0.2118	−0.066%	$131.0M	$455.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.084%	$88.9M	$191.1M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	−0.060%	$20.5M	$112.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.074%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	−0.046%	$83K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.124%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.121%	$10.8M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	−0.131%	$46.6M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	−0.079%	$24.4M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.131%	$48.0M	$64.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2116	−0.135%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.180%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	−0.336%	$251K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.094%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	−0.376%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	−0.121%	$178K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.528%	$998	$820K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	−0.093%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.030%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.140%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.082%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.107%	$78K	$11K	3x	as long as short
Phoenix ENAshort	+0.0115%	1h	0.2122	+0.152%	$5K	$347K	10x
01 Exchange ENAUSD	+0.0192%	1h	0.2117	−0.069%	$4K	$312	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2118	−0.058%	$2.7M	$5.5M	50x	as long as short
Hyperliquid ENA	+0.0244%	1h	0.2119	+0.025%	$112.1M	$78.6M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	−0.112%	$38K	—	100x	as long as short
Nado ENA-PERP	+0.0284%	1h	0.2115	−0.176%	$664K	$1.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.117%	$5.5M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2116	−0.151%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.190%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2124	+0.261%	$839K	$2.2M	50x	as long as short
Lighter ENA	+0.0664%	1h	0.2119	+0.011%	$5.7M	$12.8M	10x	as long as short
dYdX ENA-USD	+0.1980%	1h	0.2120	+0.030%	$140K	$15K	5x	as long as short