ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.006%

Price spread now: Nado against Phoenix−0.042%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.114%−$11 on $10k

Price spread, last 3 days (all we have)+0.054%+$5 · spread now −0.042%, 7d avg −0.087%

Together, before fees−0.060%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.045% dearer against Phoenix than usual: you sell high and buy low (spread −0.042% now, against its 7-day average of −0.087%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 3 days (−0.114% in total) that is about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2119	0.0150	pay 0.0019% / 1h	39m 22s	$7K	$347K	10x
Short	Nado ENA-PERP	0.2118	0.0100	get 0.0012% / 1h	39m 22s	$672K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.042%Rate

Funding earned: −$10.56
Price spread: −0.042% → −0.087%: $4.49
Slippage, 4 orders: −$34.71
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$54.78
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from Phoenix: live order book, 32 min ago; Nado: 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 Phoenix live order book, 32 min ago	1.88 bp	16.7 bp −$17	59.4 bp −$594	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	2.36 bp	6.0 bp −$6	18.0 bp −$180	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
Backpack ENA_USDC_PERP	−0.0014%	1h	0.2117	−0.066%	$377K	$417K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	−0.123%	$91K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2118	−0.043%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0022%	4h	0.2116	−0.151%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.217%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0038%	1h	0.2117	−0.081%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	−0.085%	$62K	$524K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2118	−0.042%	$672K	$1.7M	10x
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.044%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	−0.047%	$410K	$552K	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	0.2118	−0.048%	$131.3M	$446.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.104%	$89.0M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.071%	$20.7M	$109.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	−0.014%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2118	−0.038%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−0.274%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.094%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	−0.038%	$46.3M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.009%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.109%	$48.0M	$61.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.076%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2118	−0.037%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	−0.069%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	+0.082%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.085%	$34K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	−0.014%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.421%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	−0.132%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.340%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.132%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.072%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2115	−0.194%	$74K	$4K	3x	as long as short
Phoenix ENAlong	+0.0150%	1h	0.2119	long leg	$7K	$347K	10x
01 Exchange ENAUSD	+0.0216%	1h	0.2119	+0.005%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2118	−0.035%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	−0.099%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0264%	1h	0.2116	−0.124%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.094%	$5.6M	$3.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.048%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0592%	1h	0.2121	+0.085%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2120	+0.047%	$837K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0683%	1h	0.2122	+0.142%	$114.4M	$75.3M	10x	as long as short