ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.032%

Price spread now: Arcus against Deribit−0.053%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−$48as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$4 on $10k

Price spread, last 3 days (all we have)−0.460%−$46 · spread now −0.053%, 7d avg −0.004%

Together, before fees−0.504%−$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.049% cheaper against Deribit than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of −0.004%). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ENA_USDC-PERPETUAL	0.2085	0	get 0.0000% / 1h	0m 11s	$92K	$1.8M	50x
Short	Arcus ENA-USD	0.2084	0.0100	get 0.0013% / 1h	0m 11s	$81K	$223K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. 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 DeribitbpFee ArcusbpOrdersPrice spread, now −0.053%Rate

Funding earned: $21
Price spread: −0.053% → −0.004%: −$4.87
Slippage, 4 orders: −$31.68
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$27.04
Costs to cover: 0.432%
Break-even: 16.0 days

Slippage from Deribit: live order book, 4 min ago; Arcus: 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 Deribit live order book, 4 min ago	5.52 bp	9.0 bp −$9	14.9 bp −$149	doesn't fit	doesn't fit
Sell Arcus live order book, 23 min ago	9.48 bp	12.7 bp −$13	26.6 bp −$266	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	−0.0281%	1h	0.2085	−0.005%	$360K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0079%	4h	0.2085	−0.010%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUALlong	0.0000%	1h	0.2085	long leg	$92K	$1.8M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2084	−0.040%	$96K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2084	−0.048%	$4K	$432	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.837%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2080	−0.230%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2084	−0.053%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2083	−0.096%	$47K	$221	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2085	−0.024%	$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	0.2083	−0.082%	$403K	$592K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2084	−0.049%	$128.1M	$465.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2083	−0.096%	$86.6M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2084	−0.062%	$20.1M	$113.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2080	−0.230%	$20K	$411K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2084	−0.053%	$81K	$223K	10x
Gate ENA_USDT	+0.0100%	4h	0.2084	−0.072%	$10.4M	$21.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2084	−0.053%	$45.1M	$49.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2085	+0.014%	$23.8M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2082	−0.139%	$47.1M	$65.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2083	−0.082%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2082	−0.145%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2083	−0.091%	$247K	$7.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2080	−0.264%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2079	−0.293%	$31K	$712K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2083	−0.118%	$653K	$1.8M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2085	−0.005%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2034	−2.470%	$1K	$813K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2084	−0.053%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2085	0.000%	$270K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2084	−0.053%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.078%	$88K	$2K	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2085	−0.005%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0105%	1h	0.2084	−0.037%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0192%	1h	0.2083	−0.106%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0216% / S −0.0165%	1h	0.2084	−0.033%	$50K	—	100x	as long as short
Lighter ENA	+0.0320%	1h	0.2087	+0.072%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2083	−0.101%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0344%	1h	0.2086	+0.058%	$109.9M	$80.2M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2084	−0.055%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2086	+0.024%	$797K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.4898%	1h	0.2082	−0.138%	$138K	$15K	5x	as long as short