ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0508%/8h= +55.6% APRnext payment +$0.64 per $10,000 · paid last 24h +0.136%

Price spread now: Coinbase International against Polymarket Perps+0.148%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.693%+$69 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.148%, 7d avg +0.125%

Together, before fees+0.644%+$64 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Coinbase International is 0.023% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2156	0.0100	pay 0.0013% / 1h	17m 04s	$180K	$2.4M	10x
Short	Coinbase International ENA-PERP-INTX	0.2159	0.0608	get 0.0076% / 1h	17m 04s	$855K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. 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 Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now +0.148%Rate

Funding earned: $106.68
Price spread: +0.148% → +0.125%: $2.34
Slippage, 4 orders: −$42.92
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $48.1
Costs to cover: 0.609%
Break-even: 3.8 days

Slippage from Polymarket Perps: live order book, 2 min ago; Coinbase International: 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 Polymarket Perps live order book, 2 min ago	2.33 bp	8.6 bp −$9	11.8 bp −$118	15791.3 bp −$1.58M	doesn't fit
Sell Coinbase International live order book, 2 min ago	14.61 bp	21.4 bp −$21	23.0 bp −$230	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2154	−0.088%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2154	−0.109%	$103K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2152	−0.167%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.512%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0071%	1h	0.2154	−0.071%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2155	−0.046%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2156	+0.021%	$714K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2155	−0.066%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2156	+0.005%	$425K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2158	+0.088%	$134.5M	$442.9M	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	0.2158	+0.079%	$89.0M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2158	+0.088%	$21.2M	$110.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2156	−0.014%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2157	+0.046%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.274%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2155	−0.037%	$11.0M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2156	+0.005%	$46.1M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2156	+0.005%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2155	−0.060%	$48.9M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2156	0.000%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2157	+0.051%	$384K	$409K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.534%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.538%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.526%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.464%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2156	long leg	$180K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2103	−2.472%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2153	−0.139%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2158	+0.111%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2155	−0.046%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2156	−0.014%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2155	−0.068%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2153	−0.153%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0184%	1h	0.2156	−0.014%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2156	−0.010%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2152	−0.163%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2154	−0.096%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2156	+0.005%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2154	−0.087%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0608%	1h	0.2159	+0.148%	$855K	$1.8M	50x
Lighter ENA	+0.0704%	1h	0.2157	+0.056%	$5.7M	$12.7M	10x	as long as short
Hyperliquid ENA	+0.0766%	1h	0.2160	+0.195%	$117.4M	$74.6M	10x	as long as short