ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0115%/8h= −12.6% APRnext payment −$0.14 per $10,000 · paid last 24h −0.045%

Price spread now: Deribit against Phoenix−0.062%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.249%−$25 on $10k

Price spread, last 3 days (all we have)+0.815%+$81 · spread now −0.062%, 7d avg −0.044%

Together, before fees+0.566%+$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2092	0.0115	pay 0.0014% / 1h	53m 07s	$5K	$356K	10x
Short	Deribit ENA_USDC-PERPETUAL	0.2091	0	get 0.0000% / 1h	53m 07s	$92K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$24.18
Price spread: −0.062% → −0.044%: −$1.8
Slippage, 4 orders: −$33.41
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$73.39
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Phoenix: live order book, 28 min ago; Deribit: live order book, 1 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, 28 min ago	1.90 bp	16.9 bp −$17	59.7 bp −$597	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	1.91 bp	8.3 bp −$8	17.3 bp −$173	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	−0.0078%	4h	0.2090	−0.096%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0008%	1h	0.2091	−0.062%	$361K	$484K	5x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2091	−0.062%	$92K	$1.8M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.082%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.482%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0064%	1h	0.2091	−0.062%	$4K	$432	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2091	−0.078%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.067%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.072%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.053%	$656K	$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
Aster ENAUSDT	+0.0100%	4h	0.2092	+0.004%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	−0.018%	$405K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.091%	$128.6M	$464.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.153%	$86.9M	$193.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2090	−0.129%	$20.2M	$113.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.282%	$20K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	−0.067%	$82K	$223K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2090	−0.100%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	−0.105%	$45.0M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	−0.029%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.177%	$47.2M	$65.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2089	−0.139%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	+0.032%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.177%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.188%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2097	+0.220%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.043%	$189K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.509%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.067%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2094	+0.072%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	−0.162%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.426%	$88K	$2K	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.067%	$77K	$11K	3x	as long as short
Phoenix ENAlong	+0.0115%	1h	0.2092	long leg	$5K	$356K	10x
Extended ENA-USD	+0.0208%	1h	0.2090	−0.102%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0218% / S −0.0357%	1h	0.2090	−0.105%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	−0.129%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.134%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2093	+0.038%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0527%	1h	0.2093	+0.028%	$110.2M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.091%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1807%	1h	0.2091	−0.053%	$138K	$15K	5x	as long as short