ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0132%/8h= +14.5% APRnext payment +$0.17 per $10,000 · paid last 24h +0.628%

Price spread now: dYdX against Polymarket Perps−0.045%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs+$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1041.040% of the position

Long on Polymarket Perps Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.295%+$130 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.045%, 7d avg −0.068%

Together, before fees+1.166%+$117 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and dYdX is 0.023% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2124	0.0100	pay 0.0013% / 1h	14m 11s	$185K	$2.6M	10x
Short	dYdX ENA-USD	0.2124	0.0232	get 0.0029% / 1h	14m 11s	$140K	$16K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Polymarket Perps. 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 Polymarket PerpsbpFee dYdXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $27.79
Price spread: −0.045% → −0.068%: $2.27
Slippage, 4 orders: −$85.96
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$73.9
Costs to cover: 1.040%
Break-even: 25.6 days

Slippage from Polymarket Perps: live order book, 5 min ago; dYdX: live order book, 30 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 Polymarket Perps live order book, 5 min ago	2.12 bp	6.6 bp −$7	8.1 bp −$81	12335.7 bp −$1.23M	doesn't fit
Sell dYdX live order book, 30 min ago	37.85 bp	45.6 bp −$46	347.9 bp −$3,479	705.1 bp −$70.5K	1574.9 bp −$787.4K

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	−0.0107%	4h	0.2124	−0.042%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.005%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	−0.019%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2125	+0.042%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.052%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.024%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.044%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	−0.047%	$563K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2127	+0.099%	$115.3M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.008%	$1.4M	$3.3M	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	0.2124	−0.013%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.012%	$128.6M	$427.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2123	−0.085%	$91.0M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	−0.005%	$21.3M	$108.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	−0.071%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2124	−0.024%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.171%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.005%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	−0.019%	$37.9M	$43.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2125	+0.009%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.113%	$48.1M	$59.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	−0.042%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.189%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	−0.073%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.109%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	−0.118%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2124	long leg	$185K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.391%	$1K	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	−0.024%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.075%	$267K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.024%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2123	−0.090%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	0.000%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2128	+0.165%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0184%	1h	0.2125	+0.033%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USDshort	+0.0232%	1h	0.2124	−0.045%	$140K	$16K	5x
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2123	−0.080%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	−0.028%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0381%	1h	0.2125	+0.024%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.083%	$1K	$4K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2125	+0.030%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.518%	$881K	$1.8M	50x	as long as short