ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0466%/8h= +51.0% APRnext payment +$0.58 per $10,000 · paid last 24h +0.147%

Price spread now: Coinbase International against Phoenix+0.382%72s7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.730% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.401%+$40 on $10k

Price spread, last 4 days (all we have)−0.237%−$24 · spread now +0.382%, 7d avg +0.066%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.315% dearer against Phoenix than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.066%. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2096	0.0190	pay 0.0024% / 1h	23m 45s	$13K	$273K	10x
Short	Coinbase International ENA-PERP-INTX	0.2104	0.0656	get 0.0082% / 1h	23m 45s	$870K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now +0.382%Rate

Funding earned: $97.88
Price spread: +0.382% → +0.066%: $31.53
Slippage, 4 orders: −$56.05
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $56.35
Costs to cover: 0.730%
Break-even: 3.0 days

Slippage from Phoenix: live order book, 12 min ago; Coinbase International: live order book, 5 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 Phoenix live order book, 12 min ago	1.91 bp	16.6 bp −$17	59.5 bp −$595	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	9.52 bp	19.9 bp −$20	22.1 bp −$221	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
Orderly PERP_ENA_USDC	−0.0092%	4h	0.2094	−0.124%	$43K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	−0.091%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2093	−0.145%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2092	−0.205%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.288%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2095	−0.043%	$4.9M	$13.9M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2092	−0.210%	$52K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.234%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2092	−0.227%	$559K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2094	−0.119%	$113.5M	$74.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2094	−0.119%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	−0.231%	$403K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	−0.115%	$127.5M	$425.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2092	−0.224%	$89.8M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	−0.148%	$21.0M	$106.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2096	−0.019%	$38K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.162%	$77K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.071%	$91K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	−0.086%	$12.7M	$27.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−0.086%	$39.1M	$43.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	−0.038%	$24.7M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	−0.262%	$47.5M	$59.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2094	−0.138%	—	$31.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2096	−0.024%	$406K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	−0.178%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	+0.322%	$253K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	+0.350%	$351K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	−0.067%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2093	−0.143%	$180K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2043	−2.538%	$971	$908K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2094	−0.114%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	−0.062%	$264K	$814K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.114%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2093	−0.165%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	−0.094%	$73K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0150%	1h	0.2095	−0.077%	$2.6M	$4.4M	50x	as long as short
Phoenix ENAlong	+0.0190%	1h	0.2096	long leg	$13K	$273K	10x
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2094	−0.127%	$57K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.153%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2093	−0.184%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0656%	1h	0.2104	+0.382%	$870K	$1.8M	50x
dYdX ENA-USD	+0.1122%	1h	0.2093	−0.182%	$138K	$16K	5x	as long as short