ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0158%/8h= −17.3% APRnext payment −$0.20 per $10,000 · paid last 24h +0.032%

Price spread now: Deribit against Kraken Futures−0.099%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on Kraken Futures Short on Deribit

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)−0.040%−$4 · spread now −0.099%, 7d avg −0.035%

Together, before fees−0.335%−$34 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 Deribit is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENAUSD	0.2174	0.0158	pay 0.0020% / 1h	2m 57s	$2.7M	$4.3M	50x
Short	Deribit ENA_USDC-PERPETUAL	0.2172	0	get 0.0000% / 1h	2m 57s	$67K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Kraken Futures. 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 Kraken FuturesbpFee DeribitbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$33.19
Price spread: −0.099% → −0.035%: −$6.39
Slippage, 4 orders: −$38.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$95.18
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Deribit: 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 Kraken Futures live order book, 1 min ago	9.66 bp	18.7 bp −$19	23.3 bp −$233	90.3 bp −$9,030	doesn't fit
Sell Deribit live order book, 1 min ago	6.22 bp	11.3 bp −$11	doesn't fit	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	−0.0141%	4h	0.2171	−0.140%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2172	−0.099%	$67K	$1.1M	50x
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2171	−0.140%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.343%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2172	−0.117%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2171	−0.154%	$55K	$477K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2171	−0.147%	$577K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2175	+0.011%	$118.0M	$75.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2173	−0.042%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2172	−0.117%	$408K	$532K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2173	−0.069%	$131.6M	$426.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2172	−0.090%	$87.7M	$179.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2174	−0.016%	$21.7M	$109.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2175	+0.021%	$21K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2172	−0.108%	$80K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2182	+0.329%	$96K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2171	−0.145%	$11.5M	$24.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2173	−0.081%	$48.4M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2174	+0.002%	$25.3M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2171	−0.145%	$49.3M	$59.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2173	−0.081%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2182	+0.336%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2179	+0.197%	$257K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2179	+0.202%	$364K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2178	+0.168%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2172	−0.127%	$192K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2119	−2.564%	$954	$893K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2172	−0.108%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2176	+0.090%	$273K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2172	−0.108%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2171	−0.145%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2172	−0.111%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2172	−0.127%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2176	+0.090%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSDlong	+0.0158%	1h	0.2174	long leg	$2.7M	$4.3M	50x
dYdX ENA-USD	+0.0191%	1h	0.2172	−0.115%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0240%	1h	0.2175	+0.039%	$5.2M	$13.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2171	−0.156%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	−0.099%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2171	−0.173%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0522%	1h	0.2174	−0.012%	$398K	$423K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2178	+0.149%	$894K	$1.8M	50x	as long as short