ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0481%/8h= +52.7% APRnext payment +$0.60 per $10,000 · paid last 24h +0.083%

Price spread now: Hyperliquid against Polymarket Perps+0.129%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Polymarket Perps Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.468%+$47 on $10k

Price spread, last 7 days−0.180%−$18 · spread now +0.129%, 7d avg +0.062%

Together, before fees+0.288%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Hyperliquid is 0.067% dearer against Polymarket Perps than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2094	0.0100	pay 0.0013% / 1h	15m 13s	$177K	$2.6M	10x
Short	Hyperliquid ENA	0.2097	0.0581	get 0.0073% / 1h	15m 13s	$110.7M	$78.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.129%Rate

Funding earned: $101.09
Price spread: +0.129% → +0.062%: $6.7
Slippage, 4 orders: −$9.98
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $80.82
Costs to cover: 0.270%
Break-even: 1.4 days

Slippage from Polymarket Perps: live order book, 4 min ago; Hyperliquid: live order book, 9 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, 4 min ago	1.43 bp	6.4 bp −$6	8.0 bp −$80	15124.8 bp −$1.51M	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.19 bp	8.1 bp −$8	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
Orderly PERP_ENA_USDC	−0.0047%	4h	0.2094	−0.029%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0043%	1h	0.2093	−0.076%	$369K	$450K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	−0.010%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2094	−0.015%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.380%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2098	+0.160%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.024%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2093	−0.063%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2093	−0.067%	$659K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	+0.040%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2094	−0.046%	$405K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2096	+0.085%	$129.3M	$455.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2096	+0.057%	$87.2M	$190.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2097	+0.105%	$20.2M	$111.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	+0.010%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	−0.024%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	+0.009%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	−0.048%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.014%	$46.5M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.029%	$23.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.086%	$47.3M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2094	−0.038%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.163%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.088%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.093%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	−0.119%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2094	long leg	$177K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2043	−2.464%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	+0.072%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.067%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	+0.072%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	−0.003%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	+0.138%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2095	+0.029%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0241% / S −0.0415%	1h	0.2094	−0.031%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2093	−0.049%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.124%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.042%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0512%	1h	0.2099	+0.220%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2100	+0.267%	$827K	$2.1M	50x	as long as short
Hyperliquid ENAshort	+0.0581%	1h	0.2097	+0.129%	$110.7M	$78.9M	10x
dYdX ENA-USD	+0.1971%	1h	0.2093	−0.085%	$138K	$15K	5x	as long as short