ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0093%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h −0.011%

Price spread now: Popdex against Phoenix+0.596%7-day average −0.109% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$22as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.134%−$13 on $10k

Price spread, last 3 days (all we have)−0.887%−$89 · spread now +0.596%, 7d avg −0.109%

Together, before fees−1.021%−$102 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.705% dearer against Phoenix than usual: you sell high and buy low (spread +0.596% now, against its 7-day average of −0.109%): +$70 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2115	0.0189	pay 0.0024% / 1h	53m 10s	$5K	$347K	10x
Short	Popdex ENAUSDT	0.2128	0.0096	get 0.0012% / 1h	53m 10s	$63K	$529K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.596%Rate

Funding earned: −$19.43
Price spread: +0.596% → −0.109%: $70.47
Slippage, 4 orders: −$34.72
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $2.92
Costs to cover: 0.481%
Break-even: from the start

Slippage from Phoenix: live order book, 23 min ago; Popdex: live order book, 26 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, 23 min ago	1.91 bp	16.6 bp −$17	59.6 bp −$596	doesn't fit	doesn't fit
Sell Popdex live order book, 26 min ago	1.19 bp	7.3 bp −$7	57.3 bp −$573	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	−0.0033%	4h	0.2128	+0.581%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0027%	1h	0.2129	+0.662%	$376K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	+0.638%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2128	+0.591%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.378%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2128	+0.596%	$63K	$529K	50x
Nado ENA-PERP	+0.0100%	1h	0.2128	+0.600%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.599%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2123	+0.369%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	+0.553%	$131.5M	$455.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2126	+0.482%	$89.2M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.581%	$20.6M	$112.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	−0.076%	$16K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.501%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.293%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2128	+0.596%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.567%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+0.643%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	+0.520%	$48.2M	$64.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2127	+0.553%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.150%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	+0.028%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	+0.028%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	+0.359%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	+0.633%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2077	−1.829%	$1K	$821K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	+0.596%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.898%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.548%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	+0.314%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	+0.593%	$78K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2126	+0.520%	$4K	$312	10x	as long as short
Phoenix ENAlong	+0.0189%	1h	0.2115	long leg	$5K	$347K	10x
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2129	+0.636%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2128	+0.581%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.586%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2128	+0.586%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.532%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0544%	1h	0.2130	+0.714%	$5.7M	$12.8M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.761%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0586%	1h	0.2131	+0.737%	$114.3M	$78.7M	10x	as long as short
dYdX ENA-USD	+0.1669%	1h	0.2122	+0.313%	$140K	$15K	5x	as long as short