ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0015%/8h= −1.7% APRnext payment −$0.02 per $10,000 · paid last 24h −0.013%

Price spread now: Pacifica against Phoenix−0.224%47s7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as 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−$480.483% of the position

Long on Phoenix Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.224%, 7d avg −0.104%

Together, before fees−0.115%+ Points / potential airdropPacifica: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Pacifica is 0.121% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.104%). Swap the legs. The two prices were read 47 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	0.2122	0.0115	pay 0.0014% / 1h	58m 43s	$5K	$347K	10x
Short	Pacifica ENA	0.2117	0.0100	get 0.0013% / 1h	58m 43s	$410K	$573K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.224%Rate

Funding earned: −$3.18
Price spread: −0.224% → −0.104%: −$12.07
Slippage, 4 orders: −$33.27
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$63.51
Costs to cover: 0.483%
Break-even: never at this rate

Slippage from Phoenix: live order book, 17 min ago; Pacifica: live order book, 20 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, 17 min ago	1.91 bp	16.6 bp −$17	59.6 bp −$596	doesn't fit	doesn't fit
Sell Pacifica live order book, 20 min ago	1.43 bp	6.4 bp −$6	doesn't fit	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	−0.0182%	1h	0.2117	−0.250%	$374K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0036%	4h	0.2116	−0.292%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	−0.245%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2117	−0.243%	$105K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.057%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.292%	$63K	$530K	50x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.179%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2117	−0.224%	$410K	$573K	10x
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.231%	$130.9M	$455.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.250%	$88.9M	$191.1M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.254%	$20.5M	$112.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.226%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2119	−0.151%	$83K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.028%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.236%	$10.8M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	−0.236%	$46.6M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	−0.184%	$24.4M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.278%	$48.0M	$64.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.236%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.332%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	−0.488%	$251K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.246%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	−0.528%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	−0.273%	$178K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.676%	$998	$820K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	−0.245%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2120	−0.123%	$275K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.292%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	−0.293%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.259%	$78K	$11K	3x	as long as short
Phoenix ENAlong	+0.0115%	1h	0.2122	long leg	$5K	$347K	10x
01 Exchange ENAUSD	+0.0192%	1h	0.2117	−0.221%	$4K	$312	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2118	−0.210%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	−0.264%	$38K	—	100x	as long as short
Nado ENA-PERP	+0.0284%	1h	0.2115	−0.327%	$664K	$1.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.269%	$5.5M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2117	−0.265%	$1.6M	$4.2M	50x	as long as short
Hyperliquid ENA	+0.0387%	1h	0.2120	−0.085%	$112.1M	$78.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.342%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2124	+0.108%	$839K	$2.2M	50x	as long as short
Lighter ENA	+0.0664%	1h	0.2120	−0.099%	$5.7M	$12.8M	10x	as long as short
dYdX ENA-USD	+0.1878%	1h	0.2118	−0.200%	$140K	$15K	5x	as long as short