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: Phoenix against Popdex−0.592%7-day average +0.109% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

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

Long on Popdex Short on Phoenix

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)+0.884%+$88 · spread now −0.592%, 7d avg +0.109%

Together, before fees+1.018%+$102 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.701% cheaper against Popdex than usual: you would sell low and buy high (spread −0.592% now, against its 7-day average of +0.109%). If the spread goes back, that is −$70 on $10k: about 25 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ENAUSDT	0.2128	0.0096	pay 0.0012% / 1h	53m 21s	$63K	$529K	50x
Short	Phoenix ENA	0.2115	0.0189	get 0.0024% / 1h	53m 21s	$5K	$347K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Popdex. 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 PopdexbpFee PhoenixbpOrdersPrice spread, now −0.592%Rate

Funding earned: $19.43
Price spread: −0.592% → +0.109%: −$70.12
Slippage, 4 orders: −$34.72
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$98.8
Costs to cover: 0.481%
Break-even: 42.6 days

Slippage from Popdex: live order book, 26 min ago; Phoenix: live order book, 23 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 Popdex live order book, 26 min ago	1.19 bp	7.7 bp −$8	60.4 bp −$604	doesn't fit	doesn't fit
Sell Phoenix live order book, 23 min ago	1.91 bp	16.6 bp −$17	51.7 bp −$517	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	−0.0095%	1h	0.2114	−0.667%	$373K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0033%	4h	0.2128	−0.014%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	+0.042%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2128	−0.004%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.216%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTlong	+0.0096%	1h	0.2128	long leg	$63K	$529K	50x
Nado ENA-PERP	+0.0100%	1h	0.2128	+0.005%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.019%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2123	−0.226%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2128	−0.005%	$131.5M	$455.6M	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	0.2128	0.000%	$89.3M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.009%	$20.6M	$112.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	−0.667%	$16K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	−0.094%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.301%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	−0.033%	$10.9M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2128	−0.009%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2130	+0.094%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2127	−0.056%	$48.2M	$64.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2127	−0.038%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.443%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.564%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.564%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	−0.235%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	+0.038%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2077	−2.411%	$1K	$821K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	0.000%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.301%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	−0.047%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	−0.280%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	−0.003%	$78K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2126	−0.075%	$4K	$312	10x	as long as short
Phoenix ENAshort	+0.0189%	1h	0.2115	−0.592%	$5K	$347K	10x
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2129	+0.040%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2128	−0.015%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.009%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2128	−0.010%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	−0.063%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0544%	1h	0.2130	+0.117%	$5.7M	$12.8M	10x	as long as short
Hyperliquid ENA	+0.0552%	1h	0.2132	+0.169%	$114.3M	$78.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.164%	$842K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1669%	1h	0.2122	−0.281%	$140K	$15K	5x	as long as short