ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.02 per $10,000 · paid last 24h −0.001%

Price spread now: Popdex against Phoenix+0.154%114s7-day average −0.118% · you sell dearer than you buy

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−$490.488% of the position

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.141%−$14 on $10k

Price spread, last 4 days (all we have)−0.445%−$45 · spread now +0.154%, 7d avg −0.118%

Together, before fees−0.586%−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.271% dearer against Phoenix than usual: you sell high and buy low (spread +0.154% now, against its 7-day average of −0.118%): +$27 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 53 days. At the pace of the last 4 days (−0.141% in total) that is about 7.4 days. The two prices were read 114 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	Phoenix ENA	0.2084	0.0113	pay 0.0014% / 1h	5m 35s	$13K	$278K	10x
Short	Popdex ENAUSDT	0.2087	0.0096	get 0.0012% / 1h	5m 35s	$55K	$386K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$3.61
Price spread: +0.154% → −0.118%: $27.12
Slippage, 4 orders: −$35.37
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$25.26
Costs to cover: 0.488%
Break-even: never at this rate

Slippage from Phoenix: live order book, 39 min ago; Popdex: live order book, 41 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, 39 min ago	1.91 bp	16.6 bp −$17	59.3 bp −$593	doesn't fit	doesn't fit
Sell Popdex live order book, 41 min ago	1.19 bp	8.6 bp −$9	89.5 bp −$895	doesn't fit	doesn't fit

ENA on 42 exchanges

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	−0.0181%	4h	0.2087	+0.173%	$43K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0168%	1h	0.2088	+0.221%	$4K	$60	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0134%	1h	0.2088	+0.192%	$2.6M	$3.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2089	+0.230%	$53K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2087	+0.145%	$81K	—	150x	as long as short
Bitget ENAUSDT	+0.0014%	4h	0.2085	+0.043%	$47.5M	$55.5M	75x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.828%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2088	+0.192%	$5.0M	$13.2M	10x	as long as short
Popdex ENAUSDTshort	+0.0096%	1h	0.2087	+0.154%	$55K	$386K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2085	+0.067%	$47K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2087	+0.175%	$539K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2087	+0.154%	$111.9M	$74.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2087	+0.149%	$1.3M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2086	+0.113%	$379K	$497K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2086	+0.101%	$124.4M	$402.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2086	+0.086%	$83.7M	$183.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2086	+0.096%	$20.5M	$97.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2081	−0.120%	$32K	$314K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2086	+0.106%	$77K	$219K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2088	+0.208%	$102K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2086	+0.082%	$14.0M	$27.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2086	+0.101%	$43.2M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2087	+0.158%	$24.7M	$14.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2086	+0.106%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2088	+0.182%	$404K	$468K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2088	+0.225%	$2.8M	$7.6M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2082	−0.066%	$239K	$6.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2084	+0.009%	$353K	$4.2M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2084	+0.010%	$18K	$652K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2089	+0.245%	$116K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.131%	$943	$929K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2088	+0.202%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2091	+0.355%	$269K	$769K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	+0.250%	$1.8M	$9.1M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2085	+0.059%	$1.6M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2088	+0.212%	$73K	$4K	3x	as long as short
Phoenix ENAlong	+0.0113%	1h	0.2084	long leg	$13K	$278K	10x
GMX ENA/USD [ETH-USDC]	L +0.0304% / S −0.0754%	1h	0.2089	+0.272%	$57K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	+0.154%	$5.4M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2089	+0.232%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2091	+0.336%	$766K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.0919%	1h	0.2087	+0.164%	$138K	$16K	5x	as long as short