ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0765%/8h= −83.8% APRnext payment −$0.96 per $10,000 · paid last 24h −0.515%

Price spread now: Lighter against dYdX+0.063%7-day average +0.129% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$990.990% of the position

Long on dYdX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.611%−$61 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.063%, 7d avg +0.129%

Together, before fees−0.590%+ Points / potential airdropLighter: Season 3 · farm board−$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Lighter is 0.066% cheaper against dYdX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.129%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ENA-USD	0.2096	0.0869	pay 0.0109% / 1h	35m 14s	$138K	$16K	5x
Short	Lighter ENA	0.2097	0.0104	get 0.0013% / 1h	35m 14s	$4.9M	$13.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against dYdX. 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 dYdXbpFee LighterbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$160.75
Price spread: +0.063% → +0.129%: −$6.63
Slippage, 4 orders: −$88.96
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$266.33
Costs to cover: 0.990%
Break-even: never at this rate

Slippage from dYdX: live order book, 4 min ago; Lighter: live order book, 8 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 dYdX live order book, 4 min ago	37.93 bp	50.2 bp −$50	302.0 bp −$3,020	751.5 bp −$75.2K	1486.8 bp −$743.4K
Sell Lighter live order book, 8 min ago	0.71 bp	2.5 bp −$2	22.3 bp −$223	392.6 bp −$39.3K	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	−0.0093%	4h	0.2094	−0.075%	$43K	$17K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2095	−0.042%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	−0.042%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2094	−0.055%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.328%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.075%	$51K	$483K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.031%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2093	−0.116%	$557K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2096	+0.034%	$113.7M	$74.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	−0.006%	$1.4M	$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	0.2095	−0.022%	$404K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.040%	$127.2M	$425.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2093	−0.109%	$89.7M	$187.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	−0.032%	$21.0M	$106.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2096	+0.034%	$38K	$316K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	−0.075%	$77K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	+0.007%	$91K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	−0.056%	$12.7M	$27.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.061%	$39.0M	$42.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	+0.006%	$24.7M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.118%	$47.5M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2094	−0.080%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2098	+0.111%	$406K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	−0.007%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.004%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.201%	$362K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	−0.028%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2094	−0.061%	$185K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2044	−2.461%	$1K	$906K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.028%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2102	+0.325%	$264K	$814K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	+0.020%	$1.8M	$8.8M	50x	as long as short
Lighter ENAshort	+0.0104%	1h	0.2097	+0.063%	$4.9M	$13.8M	10x
Extended ENA-USD	+0.0104%	1h	0.2094	−0.065%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	+0.101%	$73K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0150%	1h	0.2096	+0.043%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2100	+0.197%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2094	−0.073%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.032%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.078%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2102	+0.311%	$869K	$1.8M	50x	as long as short
dYdX ENA-USDlong	+0.0869%	1h	0.2096	long leg	$138K	$16K	5x