ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0551%/8h= +60.4% APRnext payment +$0.69 per $10,000 · paid last 24h +0.143%

Price spread now: Coinbase International against Phoenix+0.373%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$860.862% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.388%+$39 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.373%, 7d avg +0.067%

Together, before fees+0.255%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Coinbase International is 0.306% dearer against Phoenix than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2115	0.0153	pay 0.0019% / 1h	27m 11s	$8K	$278K	10x
Short	Coinbase International ENA-PERP-INTX	0.2123	0.0704	get 0.0088% / 1h	27m 11s	$869K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now +0.373%Rate

Funding earned: $115.81
Price spread: +0.373% → +0.067%: $30.61
Slippage, 4 orders: −$69.2
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $60.21
Costs to cover: 0.862%
Break-even: 3.4 days

Slippage from Phoenix: live order book, 19 min ago; Coinbase International: live order book, 1 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 Phoenix live order book, 19 min ago	1.89 bp	16.8 bp −$17	59.4 bp −$594	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	10.41 bp	27.5 bp −$28	40.8 bp −$408	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	−0.0143%	4h	0.2106	−0.430%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2106	−0.416%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.434%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0018%	4h	0.2106	−0.449%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2107	−0.392%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.388%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	−0.482%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	−0.492%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2107	−0.378%	$653K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2107	−0.378%	$114.3M	$74.4M	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	−0.455%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2106	−0.425%	$395K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2105	−0.486%	$127.6M	$417.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.548%	$85.1M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.511%	$21.1M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.076%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	−0.435%	$78K	$276K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	−0.530%	$46.1M	$41.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2108	−0.340%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	−0.534%	$47.8M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2106	−0.449%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2111	−0.197%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.101%	$243K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	+0.092%	$351K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.132%	$19K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2107	−0.397%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2056	−2.785%	$1K	$871K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2106	−0.435%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	−0.194%	$266K	$795K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	−0.482%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.132%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2106	−0.451%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2106	−0.443%	$74K	$4K	3x	as long as short
Phoenix ENAlong	+0.0153%	1h	0.2115	long leg	$8K	$278K	10x
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2107	−0.371%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2107	−0.378%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0290%	1h	0.2108	−0.354%	$139K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2105	−0.471%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	−0.430%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2107	−0.405%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0585%	1h	0.2108	−0.340%	$357K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0704%	1h	0.2123	+0.373%	$869K	$1.7M	50x