ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0141%/8h= −15.4% APRnext payment −$0.18 per $10,000 · paid last 24h −0.094%

Price spread now: Popdex against Hyperliquid−0.204%47s7-day average −0.116% · 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—prices read too far apart to compare

costs, in and out, $10k−$370.373% of the position

Long on Hyperliquid Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.246%−$25 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now −0.204%, 7d avg −0.116%

Together, before fees−0.351%+ Points / potential airdropHyperliquid: Season 2 · farm board−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Popdex is 0.088% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.116%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2110	0.0237	pay 0.0030% / 1h	28m 41s	$114.7M	$74.1M	10x
Short	Popdex ENAUSDT	0.2106	0.0096	get 0.0012% / 1h	28m 41s	$56K	$465K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Hyperliquid. 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 HyperliquidbpFee PopdexbpOrdersPrice spread, now −0.204%Rate

Funding earned: −$29.55
Price spread: −0.204% → −0.116%: −$8.76
Slippage, 4 orders: −$21.95
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$75.66
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Popdex: live order book, 25 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 Hyperliquid live order book, 5 min ago	1.90 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 25 min ago	1.42 bp	10.3 bp −$10	101.8 bp −$1,018	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	−0.0106%	1h	0.2107	−0.137%	$359K	$403K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0102%	4h	0.2105	−0.227%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2107	−0.180%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.181%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.621%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0048%	1h	0.2107	−0.137%	$4K	$277	10x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2106	−0.204%	$56K	$465K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	−0.186%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2106	−0.190%	$655K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2109	−0.080%	$1.5M	$3.2M	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	0.2108	−0.095%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2108	−0.109%	$127.9M	$413.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.161%	$85.2M	$174.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	−0.175%	$21.0M	$103.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.507%	$22K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	−0.109%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.583%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2108	−0.128%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	−0.137%	$45.7M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	−0.081%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2105	−0.227%	$47.8M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2108	−0.118%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	−0.044%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	−0.236%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	−0.061%	$354K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2109	−0.062%	$20K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2107	−0.137%	$192K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.549%	$986	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2107	−0.156%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2113	+0.123%	$273K	$789K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	−0.204%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2107	−0.179%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2106	−0.198%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2111	+0.024%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2107	−0.136%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0216%	1h	0.2110	−0.009%	$5.2M	$13.3M	10x	as long as short
Hyperliquid ENAlong	+0.0237%	1h	0.2110	long leg	$114.7M	$74.1M	10x
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2107	−0.166%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	−0.185%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2106	−0.206%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2114	+0.199%	$865K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1060%	1h	0.2107	−0.179%	$139K	$15K	5x	as long as short