ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0548%/8h= −60.0% APRnext payment −$0.69 per $10,000 · paid last 24h −0.137%

Price spread now: Polymarket Perps against Coinbase International+0.009%7-day average −0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.699%−$70 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.009%, 7d avg −0.124%

Together, before fees−0.723%−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.134% dearer against Coinbase International than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.124%): +$13 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ENA-PERP-INTX	0.2111	0.0648	pay 0.0081% / 1h	42m 42s	$829K	$1.7M	50x
Short	Polymarket Perps ENA-USD	0.2111	0.0100	get 0.0013% / 1h	42m 42s	$178K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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 Coinbase InternationalbpFee Polymarket PerpsbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$115.08
Price spread: +0.009% → −0.124%: $13.39
Slippage, 4 orders: −$39.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$158.74
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Polymarket Perps: 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 Coinbase International live order book, 1 min ago	10.64 bp	23.1 bp −$23	26.1 bp −$261	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.37 bp	6.4 bp −$6	6.6 bp −$66	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2110	−0.052%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	−0.014%	$90K	—	150x	as long as short
dYdX ENA-USD	+0.0030%	1h	0.2104	−0.334%	$139K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2110	−0.024%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.592%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2109	−0.081%	$41K	$23K	10x	as long as short
Backpack ENA_USDC_PERP	+0.0069%	1h	0.2106	−0.232%	$364K	$383K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	+0.005%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2109	−0.073%	$700K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2105	−0.282%	$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	0.2103	−0.363%	$412K	$548K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2102	−0.398%	$130.9M	$445.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2102	−0.398%	$86.0M	$187.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2103	−0.384%	$20.9M	$107.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	0.000%	$16K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	+0.052%	$115K	$253K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2103	−0.388%	$10.9M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2103	−0.374%	$44.7M	$43.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	−0.289%	$24.3M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2103	−0.393%	$47.8M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2104	−0.351%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	−0.087%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	+0.256%	$242K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	−0.138%	$357K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.242%	$32K	$691K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2111	+0.009%	$178K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.478%	$1K	$846K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	−0.043%	$3K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.047%	$273K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	−0.090%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.278%	$93K	$4K	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2103	−0.377%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	−0.053%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0168%	1h	0.2105	−0.289%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2117	+0.280%	$7K	$351K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0206%	1h	0.2110	−0.033%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0253%	1h	0.2112	+0.033%	$2.6M	$4.9M	50x	as long as short
Extended ENA-USD	+0.0280%	1h	0.2102	−0.402%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	+1.019%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2110	−0.044%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0419%	1h	0.2106	−0.223%	$113.4M	$74.5M	10x	as long as short
Coinbase International ENA-PERP-INTXlong	+0.0648%	1h	0.2111	long leg	$829K	$1.7M	50x