ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.02 per $10,000 · paid last 24h +0.628%

Price spread now: dYdX against Phoenix+0.090%7-day average −0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1241.241% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.959%+$96 on $10k

Price spread, last 4 days (all we have)−0.274%−$27 · spread now +0.090%, 7d avg −0.123%

Together, before fees+0.684%+$68 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 dYdX is 0.213% dearer against Phoenix than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2142	0.0110	pay 0.0014% / 1h	37m 03s	$8K	$276K	10x
Short	dYdX ENA-USD	0.2144	0.0123	get 0.0015% / 1h	37m 03s	$142K	$16K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.090%Rate

Funding earned: $2.55
Price spread: +0.090% → −0.123%: $21.31
Slippage, 4 orders: −$107.08
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$100.22
Costs to cover: 1.241%
Break-even: 281.7 days

Slippage from Phoenix: live order book, 4 min ago; dYdX: live order book, 7 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, 4 min ago	1.87 bp	16.6 bp −$17	59.2 bp −$592	doesn't fit	doesn't fit
Sell dYdX live order book, 7 min ago	37.85 bp	45.6 bp −$46	347.9 bp −$3,479	705.1 bp −$70.5K	1574.9 bp −$787.4K

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	−0.0124%	4h	0.2144	+0.131%	$45K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2143	+0.079%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2146	+0.196%	$68K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	−0.122%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.850%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2145	+0.145%	$5.1M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2144	+0.112%	$57K	$481K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2146	+0.201%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2144	+0.093%	$115.5M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2145	+0.163%	$1.4M	$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	0.2144	+0.103%	$405K	$539K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2144	+0.131%	$129.6M	$428.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2142	+0.009%	$85.7M	$181.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2142	+0.033%	$21.4M	$108.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2139	−0.131%	$20K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2143	+0.065%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2138	−0.168%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2143	+0.084%	$12.5M	$26.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2143	+0.075%	$48.5M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2145	+0.140%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2141	−0.009%	$48.7M	$59.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2143	+0.051%	—	$31.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2139	−0.123%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2139	−0.113%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2139	−0.102%	$365K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2140	−0.075%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2147	+0.233%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2094	−2.199%	$1K	$899K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2145	+0.159%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.252%	$269K	$819K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2144	+0.112%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2143	+0.071%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2144	+0.115%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2145	+0.169%	$75K	$4K	3x	as long as short
Phoenix ENAlong	+0.0110%	1h	0.2142	long leg	$8K	$276K	10x
dYdX ENA-USDshort	+0.0123%	1h	0.2144	+0.090%	$142K	$16K	5x
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2145	+0.160%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2145	+0.154%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2145	+0.138%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0439%	1h	0.2146	+0.214%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2149	+0.360%	$887K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0687%	1h	0.2144	+0.093%	$396K	$433K	5x	as long as short