ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.046%

Price spread now: Backpack against Extended+0.322%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)−0.278%−$28 · spread now +0.322%, 7d avg +0.082%

Together, before fees−0.231%+ Points / potential airdropExtended: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.240% dearer against Extended than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2104	0.0104	pay 0.0013% / 1h	40m 27s	$1.6M	$4.4M	50x
Short	Backpack ENA_USDC_PERP	0.2110	0.0100	get 0.0013% / 1h	40m 27s	$412K	$490K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now +0.322%Rate

Funding earned: −$0.84
Price spread: +0.322% → +0.082%: $24.03
Slippage, 4 orders: −$11.28
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$3.09
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Backpack: live order book, 63 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 Extended live order book, 3 min ago	0.71 bp	3.3 bp −$3	8.8 bp −$88	doesn't fit	doesn't fit
Sell Backpack live order book, 63 min ago	1.17 bp	9.5 bp −$10	42.0 bp −$420	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	−0.0097%	4h	0.2109	+0.241%	$44K	$17K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2106	+0.099%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2110	+0.289%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2110	+0.287%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.935%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2107	+0.160%	$5.0M	$13.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	+0.061%	$55K	$478K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	+0.111%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	+0.039%	$560K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2106	+0.118%	$114.1M	$75.1M	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	0.2106	+0.108%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	+0.147%	$404K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2105	+0.044%	$127.9M	$425.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.001%	$90.3M	$187.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	+0.032%	$21.2M	$107.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	+0.179%	$38K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+0.108%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	+0.435%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2106	+0.103%	$12.7M	$26.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2106	+0.108%	$39.1M	$42.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	+0.099%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2103	−0.049%	$47.8M	$59.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2105	+0.075%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERPshort	+0.0100%	1h	0.2110	+0.322%	$412K	$490K	5x
Variational Omni ENA	+0.0100%	4h	0.2106	+0.119%	$3.0M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.616%	$254K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+0.541%	$365K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	+0.631%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2104	+0.037%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.226%	$1K	$905K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	+0.298%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2109	+0.255%	$265K	$817K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	+0.251%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2104	long leg	$1.6M	$4.4M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2108	+0.217%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2110	+0.312%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2108	+0.222%	$8K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2110	+0.283%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	+0.222%	$5.6M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2108	+0.226%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2116	+0.579%	$874K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0732%	1h	0.2108	+0.183%	$139K	$16K	5x	as long as short