ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0017%/8h= +1.9% APRnext payment +$0.02 per $10,000 · paid last 24h +0.003%

Price spread now: Phoenix against Popdex+0.014%7-day average +0.119% · 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−$64as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on Popdex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.138%+$14 on $10k

Price spread, last 4 days (all we have)+0.277%+$28 · spread now +0.014%, 7d avg +0.119%

Together, before fees+0.415%+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.105% cheaper against Popdex than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.119%). If the spread goes back, that is −$10 on $10k: about 20 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.138% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ENAUSDT	0.2104	0.0096	pay 0.0012% / 1h	19m 20s	$56K	$465K	50x
Short	Phoenix ENA	0.2104	0.0113	get 0.0014% / 1h	19m 20s	$8K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Popdex. 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 PopdexbpFee PhoenixbpOrdersPrice spread, now +0.014%Rate

Funding earned: $3.66
Price spread: +0.014% → +0.119%: −$10.48
Slippage, 4 orders: −$40.25
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$60.48
Costs to cover: 0.537%
Break-even: 122.6 days

Slippage from Popdex: live order book, 35 min ago; Phoenix: live order book, 31 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 Popdex live order book, 35 min ago	1.42 bp	9.7 bp −$10	87.9 bp −$879	doesn't fit	doesn't fit
Sell Phoenix live order book, 31 min ago	1.89 bp	16.8 bp −$17	51.7 bp −$517	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	−0.0119%	4h	0.2103	−0.038%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0101%	1h	0.2105	+0.071%	$359K	$401K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2109	+0.223%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2104	−0.002%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2104	0.000%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.922%	$522	$57K	5.5x	as long as short
Popdex ENAUSDTlong	+0.0096%	1h	0.2104	long leg	$56K	$465K	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2103	−0.040%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	+0.052%	$654K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2105	+0.035%	$1.5M	$3.2M	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	0.2104	−0.009%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.031%	$127.5M	$413.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.029%	$85.0M	$174.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.005%	$21.0M	$103.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	−0.076%	$22K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2104	0.000%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.193%	$92K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2103	−0.043%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	−0.005%	$45.6M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	+0.033%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2102	−0.090%	$47.7M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2104	−0.010%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2105	+0.047%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	−0.047%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2106	+0.080%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	+0.095%	$20K	$653K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2105	+0.048%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2058	−2.191%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2107	+0.143%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.342%	$273K	$790K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2108	+0.190%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2103	−0.047%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.021%	$74K	$4K	3x	as long as short
Phoenix ENAshort	+0.0113%	1h	0.2104	+0.014%	$8K	$274K	10x
Hyperliquid ENA	+0.0156%	1h	0.2107	+0.133%	$114.4M	$74.0M	10x	as long as short
Lighter ENA	+0.0168%	1h	0.2105	+0.071%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2109	+0.218%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2104	−0.010%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2104	+0.014%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2104	−0.014%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.233%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1161%	1h	0.2104	+0.016%	$139K	$15K	5x	as long as short