Funding you earn now, next payment 21:00 UTC−0.0216%/8h= −23.7% APRnext payment −$0.27 per $10,000 · paid last 24h +0.046%
Price spread now: Lighter against Coinbase International+0.048%7-day average −0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$480.484% of the position
Funding, last 7 days−0.007%−$1 on $10k
+Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.048%, 7d avg −0.038%
=Together, before fees−0.088%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.086% dearer against Coinbase International than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.038%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.007% in total) that is about 3 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ENA-PERP-INTX | 0.2086 | 0.0536 | pay 0.0067% / 1h | 0m 06s | $797K | $2.1M | 50x |
| Short | Lighter ENA | 0.2087 | 0.0320 | get 0.0040% / 1h | 0m 06s | $5.6M | $13.2M | 10x |
Coinbase International ENA-PERP-INTX
Lighter ENAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$45.36
- Price spread: +0.048% → −0.038%
- $8.64
- Slippage, 4 orders
- −$38.43
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$85.15
- Costs to cover
- 0.484%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 4 min ago; Lighter: live order book, 3 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 Coinbase International live order book, 4 min ago | 7.90 bp | 22.4 bp −$22 | 24.8 bp −$248 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 1.20 bp | 3.6 bp −$4 | 13.1 bp −$131 | 409.2 bp −$40.9K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack ENA_USDC_PERP | −0.0281% | 1h | 0.2085 | −0.029% | $360K | $487K | 5x | as long as short |
| Orderly PERP_ENA_USDC | −0.0079% | 4h | 0.2085 | −0.034% | $40K | $24K | 10x | as long as short |
| Deribit ENA_USDC-PERPETUAL | 0.0000% | 1h | 0.2085 | −0.024% | $92K | $1.8M | 50x | as long as short |
| gTrade (Gains Network) ENA/USD | L +0.0003% / S −0.0003% | 1h | 0.2084 | −0.064% | $96K | — | 150x | as long as short |
| 01 Exchange ENAUSD | +0.0008% | 1h | 0.2084 | −0.072% | $4K | $432 | 10x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | +1.812% | $522 | $57K | 5.5x | as long as short |
| Phoenix ENA | +0.0076% | 1h | 0.2080 | −0.254% | $5K | $394K | 10x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2084 | −0.077% | $59K | $538K | 50x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2083 | −0.120% | $47K | $221 | 10x | as long as short |
| Aster ENAUSDT | +0.0100% | 4h | 0.2085 | −0.048% | $1.5M | $3.3M | 50x | as long as short |
Backpack ENA_USDC_PERP
Orderly PERP_ENA_USDC
Deribit ENA_USDC-PERPETUAL
gTrade (Gains Network) ENA/USD
01 Exchange ENAUSD
Injective ENA/USDC PERP
Phoenix ENA
Popdex ENAUSDT
Paradex ENA-USD-PERP
Aster ENAUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ENA | +0.0100% | 1h | 0.2083 | −0.105% | $403K | $592K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2084 | −0.073% | $128.1M | $465.1M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2083 | −0.120% | $86.6M | $193.7M | 50x | as long as short |
| OKX ENA-USDT-SWAP | +0.0100% | 4h | 0.2084 | −0.086% | $20.1M | $113.0M | 50x | as long as short |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2080 | −0.254% | $20K | $411K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2084 | −0.077% | $81K | $223K | 10x | as long as short |
| Gate ENA_USDT | +0.0100% | 4h | 0.2084 | −0.096% | $10.4M | $21.8M | 50x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2084 | −0.077% | $45.1M | $49.6M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2085 | −0.010% | $23.8M | $16.7M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2082 | −0.163% | $47.1M | $65.8M | 75x | as long as short |
| BingX ENA-USDC | +0.0100% | 4h | 0.2083 | −0.105% | — | $6.5M | — | as long as short |
| Variational Omni ENA | +0.0100% | 4h | 0.2082 | −0.169% | $3.8M | $10.4M | — | as long as short |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2083 | −0.115% | $247K | $7.9M | 20x | as long as short |
| GRVT ENA_USDT_Perp | +0.0100% | 4h | 0.2080 | −0.288% | $353K | $4.6M | 10x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2079 | −0.316% | $31K | $712K | 50x | as long as short |
| Nado ENA-PERP | +0.0100% | 1h | 0.2083 | −0.141% | $653K | $1.8M | 10x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2085 | −0.029% | $188K | $2.8M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2034 | −2.493% | $1K | $813K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2084 | −0.077% | $4K | $14K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2085 | −0.024% | $270K | $1.5M | 50x | as long as short |
| Phemex ENAUSDT | +0.0100% | 4h | 0.2084 | −0.077% | $1.9M | $9.2M | 50x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2083 | −0.102% | $88K | $2K | 10x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2085 | −0.029% | $77K | $11K | 3x | as long as short |
| Kraken Futures PF_ENAUSD | +0.0105% | 1h | 0.2084 | −0.061% | $2.6M | $5.8M | 50x | as long as short |
| Extended ENA-USD | +0.0192% | 1h | 0.2083 | −0.129% | $1.6M | $4.2M | 50x | as long as short |
| GMX ENA/USD [ETH-USDC] | L +0.0216% / S −0.0165% | 1h | 0.2084 | −0.057% | $50K | — | 100x | as long as short |
| Lighter ENAshort | +0.0320% | 1h | 0.2087 | +0.048% | $5.6M | $13.2M | 10x | |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2083 | −0.125% | $5.5M | $8.1M | 75x | as long as short |
| Hyperliquid ENA | +0.0344% | 1h | 0.2086 | +0.034% | $109.9M | $80.2M | 10x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2084 | −0.079% | $1K | $5K | 15x | as long as short |
| Coinbase International ENA-PERP-INTXlong | +0.0536% | 1h | 0.2086 | long leg | $797K | $2.1M | 50x | |
| dYdX ENA-USD | +0.4898% | 1h | 0.2082 | −0.162% | $138K | $15K | 5x | as long as short |
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDT
OKX ENA-USDT-SWAP
Ondo Perps ENA-USD.P
Arcus ENA-USD
Gate ENA_USDT
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDC
Variational Omni ENA
edgeX ENAUSDC
GRVT ENA_USDT_Perp
ApeX Omni ENAUSDT
Nado ENA-PERP
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Phemex ENAUSDT
Bulk ENA-USD
Aevo ENA-PERP
Kraken Futures PF_ENAUSD
Extended ENA-USD
GMX ENA/USD [ETH-USDC]
BloFin ENA-USDT
Hyperliquid ENA
Reya ENARUSDPERP
dYdX ENA-USD