ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.032%

Price spread now: Deribit against Arcus−0.109%7-day average +0.004% · 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−$53as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.390%+$39 · spread now −0.109%, 7d avg +0.004%

Together, before fees+0.431%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.113% cheaper against Arcus than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2112	0.0100	pay 0.0013% / 1h	27m 44s	$79K	$276K	10x
Short	Deribit ENA_USDC-PERPETUAL	0.2110	0	get 0.0000% / 1h	27m 44s	$73K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$21
Price spread: −0.109% → +0.004%: −$11.3
Slippage, 4 orders: −$30.66
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$74.46
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Arcus: live order book, 21 min ago; Deribit: 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 Arcus live order book, 21 min ago	7.12 bp	14.6 bp −$15	26.1 bp −$261	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	3.79 bp	10.1 bp −$10	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	−0.0142%	4h	0.2109	−0.137%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2110	−0.109%	$73K	$1.1M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2109	−0.122%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0018%	4h	0.2105	−0.308%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2112	−0.005%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.540%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.047%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.023%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2109	−0.134%	$653K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2108	−0.175%	$114.5M	$74.3M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2107	−0.225%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2112	−0.005%	$396K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2106	−0.287%	$127.7M	$417.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2106	−0.284%	$85.2M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	−0.260%	$21.1M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.227%	$20K	$323K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2112	long leg	$79K	$276K	10x
MEXC ENA_USDT	+0.0100%	4h	0.2106	−0.284%	$46.6M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2107	−0.237%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	−0.355%	$47.8M	$57.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2106	−0.298%	—	$31.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	−0.046%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+0.054%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2112	−0.003%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2114	+0.095%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2111	−0.066%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.495%	$1K	$871K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2108	−0.189%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.218%	$267K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2108	−0.189%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.284%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2106	−0.295%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	−0.110%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2115	+0.152%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2109	−0.165%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2107	−0.213%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0290%	1h	0.2108	−0.203%	$139K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2108	−0.170%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.123%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	−0.101%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0585%	1h	0.2108	−0.189%	$357K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2123	+0.526%	$869K	$1.7M	50x	as long as short