ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0135%/8h= +14.8% APRnext payment +$0.17 per $10,000 · paid last 24h −0.057%

Price spread now: Kraken Futures against Polymarket Perps+0.087%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.585% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.365%+$37 on $10k

Price spread, last 3 days (all we have)+0.305%+$31 · spread now +0.087%, 7d avg +0.043%

Together, before fees+0.670%+$67 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.044% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2124	0.0100	pay 0.0013% / 1h	57m 31s	$177K	$2.5M	10x
Short	Kraken Futures PF_ENAUSD	0.2126	0.0235	get 0.0029% / 1h	57m 31s	$2.7M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.087%Rate

Funding earned: $28.34
Price spread: +0.087% → +0.043%: $4.42
Slippage, 4 orders: −$40.52
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.76
Costs to cover: 0.585%
Break-even: 13.4 days

Slippage from Polymarket Perps: live order book, 1 min ago; Kraken Futures: live order book, 1 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, 1 min ago	2.35 bp	8.2 bp −$8	10.6 bp −$106	13337.3 bp −$1.33M	doesn't fit
Sell Kraken Futures live order book, 1 min ago	13.88 bp	19.0 bp −$19	23.7 bp −$237	144.9 bp −$14.5K	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	−0.0164%	1h	0.2124	0.000%	$378K	$445K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2124	−0.021%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	0.000%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	+0.011%	$105K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0013%	4h	0.2122	−0.080%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.028%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	+0.094%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+0.065%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.049%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.039%	$412K	$560K	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	0.2125	+0.042%	$131.9M	$448.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2124	+0.014%	$89.4M	$188.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	0.000%	$20.7M	$110.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.024%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.141%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.094%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	+0.094%	$10.8M	$20.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2125	+0.038%	$46.4M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.094%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2125	+0.066%	$48.3M	$63.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2126	+0.099%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2124	+0.017%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.062%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2126	+0.097%	$361K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2127	+0.141%	$34K	$714K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2124	long leg	$177K	$2.5M	10x
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.354%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2123	−0.047%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.231%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	0.000%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	+0.047%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	+0.065%	$78K	$2K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.226%	$7K	$341K	10x	as long as short
01 Exchange ENAUSD	+0.0232%	1h	0.2130	+0.273%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0235%	1h	0.2126	+0.087%	$2.7M	$5.2M	50x
Extended ENA-USD	+0.0240%	1h	0.2126	+0.092%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2124	+0.005%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2126	+0.085%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.049%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0600%	1h	0.2127	+0.165%	$5.6M	$12.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2127	+0.160%	$840K	$1.9M	50x	as long as short
Hyperliquid ENA	+0.0790%	1h	0.2127	+0.127%	$114.7M	$78.4M	10x	as long as short