ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.06 per $10,000 · paid last 24h +0.009%

Price spread now: Extended against Phoenix−0.230%48s7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$470.470% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.453%−$45 · spread now −0.230%, 7d avg −0.156%

Together, before fees−0.507%+ Points / potential airdropExtended: Active · farm board−$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.075% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.156%). Swap the legs. The two prices were read 48 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	0.2129	0.0150	pay 0.0019% / 1h	16m 32s	$8K	$298K	10x
Short	Extended ENA-USD	0.2124	0.0104	get 0.0013% / 1h	16m 32s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.230%Rate

Funding earned: −$9.67
Price spread: −0.230% → −0.156%: −$7.46
Slippage, 4 orders: −$35.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$64.15
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Phoenix: live order book, 45 min ago; Extended: live order book, 2 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, 45 min ago	1.88 bp	16.7 bp −$17	59.6 bp −$596	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.23 bp	8.0 bp −$8	12.1 bp −$121	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	−0.0024%	4h	0.2126	−0.150%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	−0.146%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	−0.152%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2125	−0.178%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.263%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.188%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	−0.258%	$666K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2128	−0.061%	$114.6M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2126	−0.118%	$1.5M	$3.0M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	−0.138%	$415K	$506K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2125	−0.199%	$130.2M	$418.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2124	−0.249%	$86.9M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	−0.211%	$20.9M	$102.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	−0.512%	$19K	$358K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	−0.188%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−1.051%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	−0.174%	$11.1M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2126	−0.155%	$46.0M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	−0.094%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.263%	$48.4M	$57.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2125	−0.174%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2127	−0.094%	$377K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.519%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	−0.177%	$245K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−0.115%	$358K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.376%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2126	−0.160%	$184K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.579%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	−0.188%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	0.000%	$278K	$780K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	−0.188%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.201%	$48K	$110	10x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2124	−0.230%	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2126	−0.147%	$74K	$4K	3x	as long as short
Phoenix ENAlong	+0.0150%	1h	0.2129	long leg	$8K	$298K	10x
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2126	−0.143%	$51K	—	100x	as long as short
dYdX ENA-USD	+0.0263%	1h	0.2126	−0.122%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0283%	1h	0.2126	−0.122%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	−0.169%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0352%	1h	0.2127	−0.103%	$5.4M	$13.9M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2125	−0.192%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2122	−0.343%	$836K	$1.5M	50x	as long as short