Funding you earn now, next payment 07:00 UTC+0.0544%/8h= +59.6% APRnext payment +$0.68 per $10,000 · paid last 24h +0.042%
Price spread now: Coinbase International against Lighter−0.672%7-day average +0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$420.420% of the position
Funding, last 7 days+0.051%+$5 on $10k
+Price spread, last 4 days (all we have)+0.604%+$60 · spread now −0.672%, 7d avg +0.040%
=Together, before fees+0.655%+ Points / potential airdropLighter: Season 3 · farm board+$65 on $10k · with fees, hour by hour
Funding pays, the price is against you. Coinbase International is 0.712% cheaper against Lighter than usual: you would sell low and buy high (spread −0.672% now, against its 7-day average of +0.040%). If the spread goes back, that is −$71 on $10k: about 4.4 days of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.051% in total) that is about 3 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ENA | 0.2112 | 0.0112 | pay 0.0014% / 1h | 11m 05s | $5.0M | $13.9M | 10x |
| Short | Coinbase International ENA-PERP-INTX | 0.2098 | 0.0656 | get 0.0082% / 1h | 11m 05s | $867K | $1.8M | 50x |
Lighter ENA
Coinbase International ENA-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $114.24
- Price spread: −0.672% → +0.040%
- −$71.21
- Slippage, 4 orders
- −$31.97
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $1.06
- Costs to cover
- 0.420%
- Break-even
- 6.9 days
Slippage from Lighter: live order book, 12 min ago; Coinbase International: live order book, 3 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 Lighter live order book, 12 min ago | 0.71 bp | 2.3 bp −$2 | 8.8 bp −$88 | 311.6 bp −$31.2K | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 8.76 bp | 16.7 bp −$17 | 22.0 bp −$220 | 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 | −0.0085% | 4h | 0.2109 | −0.123% | $44K | $17K | 10x | as long as short |
| gTrade (Gains Network) ENA/USD | L +0.0004% / S −0.0004% | 1h | 0.2110 | −0.121% | $81K | — | 150x | as long as short |
| 01 Exchange ENAUSD | +0.0032% | 1h | 0.2111 | −0.052% | $4K | $277 | 10x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | +0.535% | $522 | $57K | 5.5x | as long as short |
| Deribit ENA_USDC-PERPETUAL | +0.0034% | 1h | 0.2110 | −0.099% | $54K | $1.1M | 50x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2110 | −0.099% | $53K | $484K | 50x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2108 | −0.205% | $47K | $110 | 10x | as long as short |
| Nado ENA-PERP | +0.0100% | 1h | 0.2110 | −0.121% | $564K | $1.8M | 10x | as long as short |
| Hyperliquid ENA | +0.0100% | 1h | 0.2112 | +0.019% | $114.5M | $74.7M | 10x | as long as short |
| Aster ENAUSDT | +0.0100% | 4h | 0.2111 | −0.037% | $1.4M | $3.3M | 50x | as long as short |
Orderly PERP_ENA_USDC
gTrade (Gains Network) ENA/USD
01 Exchange ENAUSD
Injective ENA/USDC PERP
Deribit ENA_USDC-PERPETUAL
Popdex ENAUSDT
Paradex ENA-USD-PERP
Nado ENA-PERP
Hyperliquid ENA
Aster ENAUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ENA | +0.0100% | 1h | 0.2108 | −0.177% | $407K | $563K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2112 | −0.028% | $128.5M | $424.9M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2109 | −0.137% | $90.5M | $187.3M | 50x | as long as short |
| OKX ENA-USDT-SWAP | +0.0100% | 4h | 0.2111 | −0.062% | $21.1M | $107.0M | 50x | as long as short |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2109 | −0.152% | $33K | $312K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2111 | −0.052% | $78K | $281K | 10x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2105 | −0.336% | $92K | $511 | 10x | as long as short |
| Gate ENA_USDT | +0.0100% | 4h | 0.2110 | −0.085% | $13.0M | $27.3M | 50x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2110 | −0.095% | $39.6M | $43.2M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2111 | −0.052% | $24.9M | $15.8M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2109 | −0.152% | $47.9M | $59.7M | 75x | as long as short |
| BingX ENA-USDT | +0.0100% | 4h | 0.2110 | −0.085% | — | $31.4M | — | as long as short |
| Backpack ENA_USDC_PERP | +0.0100% | 1h | 0.2112 | −0.009% | $409K | $483K | 5x | as long as short |
| Variational Omni ENA | +0.0100% | 4h | 0.2105 | −0.316% | $3.0M | $9.9M | — | as long as short |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2108 | −0.215% | $254K | $7.1M | 20x | as long as short |
| GRVT ENA_USDT_Perp | +0.0100% | 4h | 0.2111 | −0.052% | $357K | $4.7M | 10x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2112 | −0.005% | $19K | $646K | 50x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2110 | −0.080% | $181K | $2.6M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2059 | −2.533% | $775 | $909K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2110 | −0.099% | $4K | $7K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2112 | −0.005% | $266K | $808K | 50x | as long as short |
| Phemex ENAUSDT | +0.0100% | 4h | 0.2110 | −0.099% | $1.9M | $8.9M | 50x | as long as short |
| Extended ENA-USD | +0.0104% | 1h | 0.2108 | −0.175% | $1.6M | $4.4M | 50x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2110 | −0.113% | $74K | $4K | 3x | as long as short |
| Lighter ENAlong | +0.0112% | 1h | 0.2112 | long leg | $5.0M | $13.9M | 10x | |
| Kraken Futures PF_ENAUSD | +0.0149% | 1h | 0.2111 | −0.057% | $2.6M | $4.4M | 50x | as long as short |
| Phoenix ENA | +0.0190% | 1h | 0.2111 | −0.043% | $13K | $273K | 10x | as long as short |
| GMX ENA/USD [ETH-USDC] | L +0.0307% / S −0.0754% | 1h | 0.2110 | −0.091% | $58K | — | 100x | as long as short |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2110 | −0.104% | $5.5M | $3.4M | 75x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2109 | −0.127% | $1K | — | 15x | as long as short |
| Coinbase International ENA-PERP-INTXshort | +0.0656% | 1h | 0.2098 | −0.672% | $867K | $1.8M | 50x | |
| dYdX ENA-USD | +0.0888% | 1h | 0.2109 | −0.157% | $139K | $16K | 5x | as long as short |
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDT
OKX ENA-USDT-SWAP
Ondo Perps ENA-USD.P
Arcus ENA-USD
Bulk ENA-USD
Gate ENA_USDT
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDT
Backpack ENA_USDC_PERP
Variational Omni ENA
edgeX ENAUSDC
GRVT ENA_USDT_Perp
ApeX Omni ENAUSDT
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Phemex ENAUSDT
Extended ENA-USD
Aevo ENA-PERP
Kraken Futures PF_ENAUSD
Phoenix ENA
GMX ENA/USD [ETH-USDC]
BloFin ENA-USDT
Reya ENARUSDPERP
dYdX ENA-USD