ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0725%/8h= +79.4% APRnext payment +$3.63 per $10,000 · paid last 24h +0.007%

Price spread now: MEXC against Phemex+0.159%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−1.179%−$118 · spread now +0.159%, 7d avg −0.036%

Together, before fees−1.183%−$118 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and MEXC is 0.195% dearer against Phemex than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.036%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.004% in total (about -0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.63 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	Phemex ENAUSDT	0.2142	−0.0625	get 0.0313% / 4h	3h 49m	$1.9M	$9.0M	50x
Short	MEXC ENA_USDT	0.2145	0.0100	get 0.0050% / 4h	3h 49m	$39.8M	$42.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phemex. 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 PhemexbpFee MEXCbpOrdersPrice spread, now +0.159%Rate

Funding earned: $152.26
Price spread: +0.159% → −0.036%: $19.45
Slippage, 4 orders: −$35.29
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: $124.42
Costs to cover: 0.473%
Break-even: 1.3 days

Slippage from Phemex: live order book, 4 min ago; MEXC: live order book, 4 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 Phemex live order book, 4 min ago	4.70 bp	19.7 bp −$20	70.3 bp −$703	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.23 bp	2.0 bp −$2	10.0 bp −$100	41.5 bp −$4,148	70.3 bp −$35.1K

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 ENAUSDTlong	−0.0625%	4h	0.2142	long leg	$1.9M	$9.0M	50x
Orderly PERP_ENA_USDC	−0.0084%	4h	0.2138	−0.173%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2136	−0.285%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2140	−0.103%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2137	−0.233%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.868%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2142	+0.019%	$5.0M	$12.6M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2134	−0.373%	$53K	$488K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2138	−0.169%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2135	−0.329%	$572K	$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	0.2145	+0.149%	$116.5M	$75.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2145	+0.144%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2138	−0.202%	$412K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2145	+0.128%	$130.3M	$426.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2144	+0.098%	$89.4M	$192.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2144	+0.107%	$21.5M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2133	−0.439%	$33K	$314K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2137	−0.233%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−0.723%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2145	+0.126%	$13.4M	$26.8M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2145	+0.159%	$39.8M	$42.6M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2146	+0.182%	$25.3M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2143	+0.028%	$48.6M	$60.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2144	+0.098%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2135	−0.308%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2131	−0.498%	$258K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2132	−0.467%	$363K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2132	−0.467%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2135	−0.322%	$176K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2086	−2.624%	$1K	$914K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	−0.140%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2146	+0.196%	$268K	$807K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2144	+0.095%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2139	−0.140%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2133	−0.425%	$13K	$267K	10x	as long as short
dYdX ENA-USD	+0.0159%	1h	0.2137	−0.246%	$141K	$16K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2140	−0.094%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0754%	1h	0.2139	−0.163%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2136	−0.294%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2135	−0.310%	$1K	—	15x	as long as short
Backpack ENA_USDC_PERP	+0.0445%	1h	0.2145	+0.135%	$415K	$481K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2142	−0.009%	$805K	$2.0M	50x	as long as short