ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.037%

Price spread now: Deribit against Arcus−0.175%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$1941.943% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.040%+$4 on $10k

Price spread, last 3 days (all we have)+0.300%+$30 · spread now −0.175%, 7d avg +0.007%

Together, before fees+0.340%+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.182% cheaper against Arcus than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2120	0.0100	pay 0.0013% / 1h	48m 09s	$115K	$253K	10x
Short	Deribit ENA_USDC-PERPETUAL	0.2116	0	get 0.0000% / 1h	48m 09s	$79K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$21
Price spread: −0.175% → +0.007%: −$18.17
Slippage, 4 orders: −$182.79
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$233.46
Costs to cover: 1.943%
Break-even: never at this rate

Slippage from Arcus: live order book, 20 min ago; Deribit: 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 Arcus live order book, 20 min ago	6.91 bp	13.6 bp −$14	25.2 bp −$252	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	15.28 bp	22.5 bp −$23	doesn't fit	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
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2116	−0.175%	$79K	$1.6M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	−0.228%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2119	−0.042%	$4K	$302	10x	as long as short
dYdX ENA-USD	+0.0032%	1h	0.2123	+0.144%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.160%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2116	−0.189%	$41K	$23K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2120	+0.014%	$5.5M	$13.6M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2118	−0.094%	$52K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	−0.170%	$698K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	−0.124%	$1.5M	$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	0.2122	+0.098%	$416K	$548K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.055%	$131.8M	$444.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.061%	$86.7M	$186.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.005%	$21.1M	$108.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.212%	$17K	$408K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2120	long leg	$115K	$253K	10x
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.346%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2118	−0.075%	$10.7M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.061%	$44.7M	$43.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	−0.104%	$24.4M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.108%	$48.0M	$61.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2119	−0.047%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2119	−0.052%	$366K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2125	+0.246%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	+0.049%	$244K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.195%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.283%	$32K	$690K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2118	−0.080%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.505%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	−0.142%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.118%	$274K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	−0.094%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.102%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	−0.203%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2127	+0.330%	$7K	$351K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2115	−0.257%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0252%	1h	0.2118	−0.105%	$2.7M	$4.9M	50x	as long as short
Extended ENA-USD	+0.0296%	1h	0.2117	−0.155%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	+0.585%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2114	−0.299%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0483%	1h	0.2122	+0.104%	$114.3M	$74.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2131	+0.538%	$837K	$1.8M	50x	as long as short