ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0326%/8h= −35.7% APRnext payment −$0.41 per $10,000 · paid last 24h +0.557%

Price spread now: dYdX against Hyperliquid−0.237%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1281.278% of the position

Long on Hyperliquid Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.799%+$80 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.237%, 7d avg −0.113%

Together, before fees+0.912%+ Points / potential airdropHyperliquid: Season 2 · farm board+$91 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and dYdX is 0.124% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.113%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.799%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ENA	0.2119	0.0389	pay 0.0049% / 1h	53m 11s	$115.5M	$74.0M	10x
Short	dYdX ENA-USD	0.2113	0.0063	get 0.0008% / 1h	53m 11s	$140K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.237%Rate

Funding earned: −$68.48
Price spread: −0.237% → −0.113%: −$12.43
Slippage, 4 orders: −$108.84
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$208.74
Costs to cover: 1.278%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; dYdX: live order book, 1 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, 11 min ago	1.18 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 1 min ago	50.64 bp	55.6 bp −$56	373.4 bp −$3,734	712.2 bp −$71.2K	1724.6 bp −$862.3K

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	−0.0215%	1h	0.2118	−0.009%	$362K	$401K	5x	as long as short
Phemex ENAUSDT	−0.0135%	4h	0.2118	−0.024%	$1.8M	$8.9M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2116	−0.099%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	−0.052%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	−0.101%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.231%	$522	$57K	5.5x	as long as short
dYdX ENA-USDshort	+0.0063%	1h	0.2113	−0.237%	$140K	$15K	5x
01 Exchange ENAUSD	+0.0064%	1h	0.2114	−0.198%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	−0.212%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2114	−0.217%	$47K	$110	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	0.2115	−0.186%	$657K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2115	−0.145%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	−0.186%	$403K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.056%	$128.8M	$415.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.104%	$85.5M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.066%	$21.1M	$104.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.349%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	−0.165%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	−0.149%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.127%	$11.1M	$22.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	−0.057%	$46.1M	$40.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	−0.014%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.127%	$48.0M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2117	−0.085%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.506%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	−0.432%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.366%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2112	−0.307%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	−0.118%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.563%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	−0.071%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.014%	$274K	$793K	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2120	+0.061%	$5.2M	$13.2M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2117	−0.080%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.047%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2109	−0.439%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0172%	1h	0.2119	+0.028%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2117	−0.093%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	−0.198%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENAlong	+0.0389%	1h	0.2119	long leg	$115.5M	$74.0M	10x
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.170%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2120	+0.066%	$866K	$1.7M	50x	as long as short