ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0152%/8h= −16.6% APRnext payment −$0.76 per $10,000 · paid last 24h −0.002%

Price spread now: Phemex against Gate−0.014%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$750.748% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.986%+$99 · spread now −0.014%, 7d avg +0.057%

Together, before fees+0.996%+$100 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.071% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2127	0.0100	pay 0.0050% / 4h	2h 59m	$13.4M	$26.6M	50x
Short	Phemex ENAUSDT	0.2127	−0.0052	pay 0.0026% / 4h	2h 59m	$1.9M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$31.85
Price spread: −0.014% → +0.057%: −$7.09
Slippage, 4 orders: −$47.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$113.73
Costs to cover: 0.748%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Phemex: live order book, 5 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 Gate live order book, 5 min ago	2.34 bp	12.8 bp −$13	35.1 bp −$351	56.1 bp −$5,613	95.1 bp −$47.5K
Sell Phemex live order book, 5 min ago	9.35 bp	23.5 bp −$24	68.8 bp −$688	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
Kraken Futures PF_ENAUSD	−0.0241%	1h	0.2126	−0.043%	$2.6M	$4.4M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0109%	4h	0.2125	−0.094%	$44K	$15K	10x	as long as short
Phemex ENAUSDTshort	−0.0052%	4h	0.2127	−0.014%	$1.9M	$9.0M	50x
01 Exchange ENAUSD	−0.0048%	1h	0.2133	+0.254%	$4K	$169	10x	as long as short
SoDEX ENA-USD	−0.0005%	1h	0.2126	−0.061%	$4K	$6K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	−0.061%	$90K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2136	+0.428%	$82K	—	150x	as long as short
Ondo Perps ENA-USD.P	+0.0012%	1h	0.2142	+0.715%	$39K	$330K	5x	as long as short
Injective ENA/USDC PERP	+0.0026%	1h	0.2122	−0.254%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0038%	4h	0.2124	−0.132%	$48.0M	$59.8M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ENA	+0.0096%	1h	0.2128	+0.019%	$5.0M	$12.8M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2132	+0.221%	$55K	$486K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2132	+0.235%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	+0.118%	$564K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2130	+0.118%	$116.5M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	+0.081%	$1.3M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2133	+0.275%	$407K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	−0.017%	$128.5M	$422.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2127	−0.014%	$87.0M	$191.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	−0.024%	$21.0M	$105.9M	50x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2133	+0.268%	$79K	$246K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2127	long leg	$13.4M	$26.6M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2126	−0.075%	$41.9M	$42.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2128	+0.024%	$25.0M	$15.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2127	0.000%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	+0.318%	$3.1M	$8.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2138	+0.509%	$253K	$7.2M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2136	+0.409%	$355K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2136	+0.409%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2132	+0.240%	$175K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2079	−2.270%	$1K	$921K	20x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.334%	$264K	$809K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2133	+0.291%	$104K	$12K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2125	−0.107%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.016%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0112%	1h	0.2134	+0.301%	$141K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2143	+0.757%	$14K	$258K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2136	+0.395%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	−0.089%	$5.5M	$3.4M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0380%	1h	0.2128	+0.038%	$411K	$476K	5x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2128	+0.010%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0496%	1h	0.2129	+0.056%	$785K	$2.0M	50x	as long as short