ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0163%/8h= +17.9% APRnext payment +$0.20 per $10,000 · paid last 24h −0.032%

Price spread now: Kraken Futures against Deribit+0.043%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.296%+$30 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now +0.043%, 7d avg +0.035%

Together, before fees+0.415%+$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ENA_USDC-PERPETUAL	0.2104	0	get 0.0000% / 1h	50m 08s	$73K	$1.1M	50x
Short	Kraken Futures PF_ENAUSD	0.2105	0.0163	get 0.0020% / 1h	50m 08s	$2.6M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now +0.043%Rate

Funding earned: $34.28
Price spread: +0.043% → +0.035%: $0.77
Slippage, 4 orders: −$37.6
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$19.55
Costs to cover: 0.546%
Break-even: 11.0 days

Slippage from Deribit: live order book, 4 min ago; Kraken Futures: live order book, 4 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 Deribit live order book, 4 min ago	4.30 bp	7.8 bp −$8	16.3 bp −$163	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	10.51 bp	16.8 bp −$17	22.8 bp −$228	146.5 bp −$14.7K	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
ApeX Omni ENAUSDT	−0.0500%	1h	0.2097	−0.337%	$20K	$649K	50x	as long as short
Orderly PERP_ENA_USDC	−0.0138%	4h	0.2104	−0.014%	$44K	$25K	10x	as long as short
Gate ENA_USDT	−0.0066%	4h	0.2101	−0.143%	$10.9M	$23.4M	50x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2105	+0.067%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUALlong	0.0000%	1h	0.2104	long leg	$73K	$1.1M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	+0.079%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.917%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	+0.043%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2106	+0.084%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	+0.026%	$653K	$1.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2104	−0.010%	$113.8M	$74.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2103	−0.050%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2106	+0.091%	$400K	$512K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2102	−0.124%	$127.7M	$416.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2102	−0.105%	$85.3M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	−0.081%	$21.0M	$103.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2099	−0.252%	$22K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2106	+0.090%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	−0.362%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2101	−0.128%	$45.4M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	−0.043%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2100	−0.181%	$47.8M	$57.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2102	−0.105%	—	$31.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2102	−0.110%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.518%	$238K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	−0.398%	$354K	$5.0M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2106	+0.086%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2052	−2.471%	$1K	$867K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.052%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	+0.181%	$274K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	−0.100%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2102	−0.086%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.014%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2094	−0.504%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0163%	1h	0.2105	+0.043%	$2.6M	$4.3M	50x
Lighter ENA	+0.0256%	1h	0.2104	−0.010%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2106	+0.092%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	−0.043%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	+0.060%	$1K	$5K	15x	as long as short
dYdX ENA-USD	+0.0521%	1h	0.2104	+0.011%	$139K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0553%	1h	0.2103	−0.071%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.195%	$860K	$1.7M	50x	as long as short