ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0405%/8h= +44.4% APRnext payment +$0.51 per $10,000 · paid last 24h +0.041%

Price spread now: Bulk against Backpack+0.813%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Bulk is 0.813% dearer against Backpack than usual: you sell high and buy low: +$81 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ENA_USDC_PERP	0.2090	−0.0305	get 0.0038% / 1h	48m 19s	$365K	$388K	5x
Short	Bulk ENA-USD	0.2107	0.0100	get 0.0013% / 1h	48m 19s	$92K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Backpack. 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 BackpackbpFee BulkbpOrdersPrice spread, now +0.813%Rate

Funding earned: $85.13
Price spread: +0.813% → 0.000%: $81.34
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $149.47
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Backpack: live order book, 10 min ago; Bulk: no order-book sample. Net counts fees only.

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 Backpack live order book, 10 min ago	0.95 bp	7.3 bp −$7	40.7 bp −$407	doesn't fit	doesn't fit
Sell Bulk no order-book sample	—	—	—	—	—

Bulk: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Backpack ENA_USDC_PERPlong	−0.0305%	1h	0.2090	long leg	$365K	$388K	5x
01 Exchange ENAUSD	−0.0104%	1h	0.2094	+0.191%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0059%	4h	0.2093	+0.129%	$43K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2093	+0.158%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2094	+0.176%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.598%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.191%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2094	+0.215%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	+0.191%	$55K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2092	+0.119%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2094	+0.189%	$657K	$1.6M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2095	+0.244%	$111.6M	$72.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2093	+0.134%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2093	+0.144%	$408K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	+0.167%	$127.9M	$415.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2093	+0.148%	$85.0M	$176.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	+0.153%	$20.7M	$101.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.048%	$19K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	+0.096%	$77K	$275K	10x	as long as short
Bulk ENA-USDshort	+0.0100%	1h	0.2107	+0.813%	$92K	$4K	10x
Gate ENA_USDT	+0.0100%	4h	0.2093	+0.163%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	+0.206%	$45.1M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.225%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	+0.067%	$47.7M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2093	+0.153%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.325%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	+0.703%	$242K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	+0.690%	$353K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	+0.431%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2094	+0.191%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2043	−2.230%	$1K	$843K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2092	+0.096%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.244%	$271K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2093	+0.144%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2091	+0.052%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2093	+0.158%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0148%	1h	0.2093	+0.126%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2094	+0.183%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2094	+0.185%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2088	−0.115%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2093	+0.145%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	+0.005%	$851K	$1.5M	50x	as long as short