ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.124%

Price spread now: Deribit against Hyperliquid+0.010%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.381%−$38 on $10k

Price spread, last 4 days (all we have)+0.254%+$25 · spread now +0.010%, 7d avg −0.056%

Together, before fees−0.128%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.066% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.056%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2088	0.0100	pay 0.0013% / 1h	55m 19s	$113.0M	$74.3M	10x
Short	Deribit ENA_USDC-PERPETUAL	0.2089	0	get 0.0000% / 1h	55m 19s	$72K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. 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 HyperliquidbpFee DeribitbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$21
Price spread: +0.010% → −0.056%: $6.59
Slippage, 4 orders: −$14.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$44.59
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Deribit: 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 Hyperliquid live order book, 9 min ago	0.24 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	2.62 bp	10.9 bp −$11	16.7 bp −$167	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
Orderly PERP_ENA_USDC	−0.0135%	4h	0.2089	+0.024%	$43K	$25K	10x	as long as short
Gate ENA_USDT	−0.0020%	4h	0.2086	−0.134%	$10.9M	$23.2M	50x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2087	−0.062%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2089	+0.010%	$72K	$1.1M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2087	−0.067%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.676%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2087	−0.067%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2086	−0.125%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2085	−0.166%	$647K	$1.7M	10x	as long as short
Hyperliquid ENAlong	+0.0100%	1h	0.2088	long leg	$113.0M	$74.3M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.087%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2088	−0.009%	$397K	$512K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.101%	$126.6M	$414.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2088	−0.005%	$84.9M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2090	+0.062%	$20.9M	$102.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2092	+0.187%	$22K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2087	−0.067%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	+0.290%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2086	−0.096%	$45.1M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+0.010%	$24.7M	$15.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2087	−0.057%	$47.5M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2087	−0.057%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.401%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2102	+0.631%	$241K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	+0.891%	$348K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	+0.843%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2087	−0.062%	$192K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.365%	$1K	$861K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2090	+0.077%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.215%	$271K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	+0.077%	$1.7M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2091	+0.129%	$5.2M	$13.0M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2088	−0.020%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2088	−0.033%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2098	+0.441%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0164%	1h	0.2091	+0.137%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2087	−0.071%	$69K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2088	−0.005%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2086	−0.136%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0558%	1h	0.2090	+0.072%	$356K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2090	+0.096%	$856K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1173%	1h	0.2088	−0.041%	$138K	$15K	5x	as long as short