ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0186%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h −0.058%

Price spread now: Kraken Futures against Polymarket Perps+0.088%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$530.533% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.385%+$38 on $10k

Price spread, last 4 days (all we have)+0.921%+$92 · spread now +0.088%, 7d avg +0.044%

Together, before fees+1.306%+$131 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.044% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2106	0.0100	pay 0.0013% / 1h	3m 53s	$180K	$2.3M	10x
Short	Kraken Futures PF_ENAUSD	0.2108	0.0286	get 0.0036% / 1h	3m 53s	$2.6M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.088%Rate

Funding earned: $39.02
Price spread: +0.088% → +0.044%: $4.41
Slippage, 4 orders: −$35.34
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.92
Costs to cover: 0.533%
Break-even: 8.8 days

Slippage from Polymarket Perps: live order book, 5 min ago; Kraken Futures: live order book, 5 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	3.33 bp	7.8 bp −$8	9.5 bp −$95	15327.6 bp −$1.53M	doesn't fit
Sell Kraken Futures live order book, 5 min ago	10.22 bp	18.2 bp −$18	25.4 bp −$254	117.3 bp −$11.7K	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	−0.0041%	4h	0.2106	−0.033%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2106	−0.019%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2107	+0.014%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	0.000%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.812%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	−0.062%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2106	−0.002%	$661K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2110	+0.161%	$113.8M	$71.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2107	+0.022%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2106	−0.001%	$411K	$501K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2108	+0.098%	$129.0M	$415.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2109	+0.128%	$85.8M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2109	+0.128%	$20.8M	$102.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.546%	$19K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	−0.014%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2102	−0.204%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2108	+0.085%	$11.1M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2108	+0.062%	$45.7M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2110	+0.171%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2108	+0.066%	$48.0M	$57.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2106	+0.005%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2109	+0.133%	$373K	$362K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.435%	$3.3M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2100	−0.306%	$243K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.081%	$355K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2108	+0.081%	$22K	$650K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2106	long leg	$180K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2054	−2.488%	$995	$839K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2106	−0.014%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2107	+0.047%	$272K	$785K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2109	+0.128%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	−0.075%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2108	+0.077%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2107	+0.009%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2100	−0.299%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2107	+0.026%	$51K	—	100x	as long as short
Lighter ENA	+0.0272%	1h	0.2110	+0.180%	$5.3M	$14.0M	10x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0286%	1h	0.2108	+0.088%	$2.6M	$4.2M	50x
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.451%	$5.6M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0373%	1h	0.2103	−0.170%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2106	−0.027%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2107	+0.024%	$858K	$1.5M	50x	as long as short