ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0165%/8h= −18.1% APRnext payment −$0.21 per $10,000 · paid last 24h −0.209%

Price spread now: Kraken Futures against Lighter−0.088%7-day average −0.037% · 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−$49as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 3 days (all we have)+0.232%+$23 · spread now −0.088%, 7d avg −0.037%

Together, before fees−0.072%+ Points / potential airdropLighter: Season 3 · farm board−$7 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 Kraken Futures is 0.051% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ENA	0.2129	0.0416	pay 0.0052% / 1h	16m 40s	$5.5M	$13.7M	10x
Short	Kraken Futures PF_ENAUSD	0.2127	0.0251	get 0.0031% / 1h	16m 40s	$2.7M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Lighter. 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 LighterbpFee Kraken FuturesbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$34.71
Price spread: −0.088% → −0.037%: −$5.07
Slippage, 4 orders: −$33.63
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$83.4
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Kraken Futures: live order book, 2 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 Lighter live order book, 7 min ago	0.47 bp	1.7 bp −$2	10.9 bp −$109	446.5 bp −$44.7K	doesn't fit
Sell Kraken Futures live order book, 2 min ago	14.08 bp	20.0 bp −$20	24.2 bp −$242	104.1 bp −$10.4K	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2127	−0.113%	$79K	$1.5M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2126	−0.131%	$91K	—	150x	as long as short
dYdX ENA-USD	+0.0014%	1h	0.2127	−0.112%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.268%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0036%	4h	0.2126	−0.127%	$44K	$28K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	−0.146%	$54K	$515K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.247%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2129	−0.027%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2128	−0.062%	$416K	$543K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	−0.107%	$131.4M	$442.8M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2125	−0.197%	$87.1M	$186.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	−0.122%	$20.9M	$107.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	−0.019%	$19K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	−0.099%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	−0.143%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2126	−0.164%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2126	−0.136%	$45.2M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2131	+0.085%	$24.7M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2125	−0.207%	$48.4M	$60.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2126	−0.141%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2126	−0.127%	$380K	$383K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2130	+0.064%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2131	+0.104%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2131	+0.092%	$357K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2131	+0.089%	$32K	$655K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	−0.216%	$182K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2075	−2.550%	$913	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2126	−0.146%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	−0.005%	$274K	$864K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2126	−0.146%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2125	−0.212%	$48K	$110	10x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2129	−0.019%	$4K	$302	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.115%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2126	−0.146%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0216%	1h	0.2126	−0.167%	$1.6M	$4.1M	50x	as long as short
Kraken Futures PF_ENAUSDshort	+0.0251%	1h	0.2127	−0.088%	$2.7M	$4.5M	50x
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2126	−0.138%	$50K	—	100x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.286%	$1K	$5K	15x	as long as short
Lighter ENAlong	+0.0416%	1h	0.2129	long leg	$5.5M	$13.7M	10x
Hyperliquid ENA	+0.0494%	1h	0.2132	+0.150%	$115.2M	$72.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2136	+0.319%	$837K	$1.7M	50x	as long as short