ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.06 per $10,000 · paid last 24h 0.000%

Price spread now: Phoenix against Arcus+0.373%7-day average +0.075% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$530.532% of the position

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.136%+$14 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now +0.373%, 7d avg +0.075%

Together, before fees+0.367%+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.297% dearer against Arcus than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2120	0.0100	pay 0.0013% / 1h	31m 13s	$78K	$282K	10x
Short	Phoenix ENA	0.2128	0.0150	get 0.0019% / 1h	31m 13s	$13K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.373%Rate

Funding earned: $10.52
Price spread: +0.373% → +0.075%: $29.72
Slippage, 4 orders: −$41.66
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$12.92
Costs to cover: 0.532%
Break-even: 15.6 days

Slippage from Arcus: live order book, 2 min ago; Phoenix: live order book, 64 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, 2 min ago	4.70 bp	12.2 bp −$12	25.0 bp −$250	doesn't fit	doesn't fit
Sell Phoenix live order book, 64 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
Orderly PERP_ENA_USDC	−0.0098%	4h	0.2114	−0.278%	$44K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2116	−0.208%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	−0.203%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	−0.204%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.132%	$734	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0080%	4h	0.2116	−0.175%	$13.2M	$27.6M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2119	−0.052%	$4.9M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	−0.236%	$54K	$498K	50x	as long as short
Paradex ENA-USD-PERP	+0.0099%	8h	0.2116	−0.186%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2115	−0.232%	$559K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2119	−0.071%	$115.2M	$76.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	−0.126%	$1.4M	$3.4M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	−0.085%	$406K	$569K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2116	−0.175%	$128.4M	$431.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.170%	$88.0M	$194.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.118%	$20.9M	$108.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	+0.241%	$28K	$322K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2120	long leg	$78K	$282K	10x
Bulk ENA-USD	+0.0100%	1h	0.2140	+0.943%	$93K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	−0.132%	$40.3M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	−0.142%	$24.9M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.203%	$48.0M	$61.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2116	−0.179%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2117	−0.123%	$412K	$478K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2131	+0.524%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2127	+0.339%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.424%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+0.377%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	−0.160%	$174K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2066	−2.528%	$1K	$927K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.236%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.104%	$264K	$843K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2119	−0.047%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2114	−0.280%	$1.6M	$4.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	+0.356%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0129%	1h	0.2122	+0.087%	$140K	$16K	5x	as long as short
Phoenix ENAshort	+0.0150%	1h	0.2128	+0.373%	$13K	$267K	10x
Kraken Futures PF_ENAUSD	+0.0197%	1h	0.2116	−0.170%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2118	−0.108%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	−0.302%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2114	−0.268%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2120	+0.024%	$786K	$2.0M	50x	as long as short