ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0460%/8h= −50.4% APRnext payment −$0.58 per $10,000 · paid last 24h −0.116%

Price spread now: Phoenix against Coinbase International+0.234%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$730.725% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.342%−$34 on $10k

Price spread, last 3 days (all we have)−0.668%−$67 · spread now +0.234%, 7d avg −0.068%

Together, before fees−1.010%−$101 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.303% dearer against Coinbase International than usual: you sell high and buy low (spread +0.234% now, against its 7-day average of −0.068%): +$30 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.342% in total) that is about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ENA-PERP-INTX	0.2090	0.0536	pay 0.0067% / 1h	8m 36s	$800K	$2.1M	50x
Short	Phoenix ENA	0.2094	0.0076	get 0.0009% / 1h	8m 36s	$5K	$394K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.234%Rate

Funding earned: −$96.65
Price spread: +0.234% → −0.068%: $30.29
Slippage, 4 orders: −$55.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$138.87
Costs to cover: 0.725%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Phoenix: live order book, 13 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, 5 min ago	8.12 bp	23.0 bp −$23	24.4 bp −$244	doesn't fit	doesn't fit
Sell Phoenix live order book, 13 min ago	1.90 bp	16.9 bp −$17	51.9 bp −$519	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
Backpack ENA_USDC_PERP	−0.0283%	1h	0.2091	+0.072%	$361K	$483K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2091	+0.057%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2088	−0.062%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2092	+0.110%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2092	+0.115%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.618%	$522	$57K	5.5x	as long as short
Phoenix ENAshort	+0.0076%	1h	0.2094	+0.234%	$5K	$394K	10x
Gate ENA_USDT	+0.0078%	4h	0.2089	−0.010%	$10.4M	$21.8M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2087	−0.124%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	−0.034%	$47K	$221	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	0.2092	+0.100%	$655K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.026%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2090	+0.002%	$404K	$592K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	−0.054%	$128.5M	$465.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2087	−0.124%	$86.9M	$193.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2088	−0.072%	$20.1M	$113.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2088	−0.081%	$19K	$417K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	+0.067%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	−0.131%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2089	−0.010%	$45.4M	$49.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.043%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2088	−0.077%	$47.2M	$65.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2089	−0.019%	—	$32.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	−0.196%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2087	−0.135%	$248K	$7.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2087	−0.145%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2088	−0.077%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2093	+0.153%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.369%	$906	$811K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	+0.067%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.445%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	+0.019%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	+0.066%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2092	+0.111%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0184%	1h	0.2089	−0.049%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0215% / S −0.0164%	1h	0.2092	+0.117%	$50K	—	100x	as long as short
Lighter ENA	+0.0296%	1h	0.2092	+0.129%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2091	+0.043%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0349%	1h	0.2092	+0.105%	$110.3M	$80.1M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2092	+0.099%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXlong	+0.0536%	1h	0.2090	long leg	$800K	$2.1M	50x
dYdX ENA-USD	+0.5218%	1h	0.2091	+0.044%	$138K	$15K	5x	as long as short