ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.06 per $10,000 · paid last 24h +0.002%

Price spread now: Phoenix against Ondo Perps+0.346%48s7-day average +0.063% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)+0.219%+$22 · spread now +0.346%, 7d avg +0.063%

Together, before fees+0.324%+ Points / potential airdropOndo Perps: Active · farm board+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.283% dearer against Ondo Perps than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.063%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2112	0.0100	pay 0.0013% / 1h	7m 56s	$19K	$333K	5x
Short	Phoenix ENA	0.2119	0.0150	get 0.0019% / 1h	7m 56s	$8K	$298K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Ondo Perps. 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 Ondo PerpsbpFee PhoenixbpOrdersPrice spread, now +0.346%Rate

Funding earned: $10.51
Price spread: +0.346% → +0.063%: $28.32
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $26.83
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 53 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 53 min ago	1.88 bp	16.7 bp −$17	51.7 bp −$517	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0039%	4h	0.2104	−0.369%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2103	−0.417%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2105	−0.289%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.260%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.564%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2104	−0.355%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2104	−0.367%	$660K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2105	−0.313%	$113.3M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	−0.355%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2105	−0.328%	$411K	$501K	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	0.2101	−0.501%	$128.5M	$415.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.545%	$85.9M	$174.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	−0.516%	$20.7M	$101.6M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2112	long leg	$19K	$333K	5x
Arcus ENA-USD	+0.0100%	1h	0.2104	−0.355%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+0.403%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2102	−0.469%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	−0.440%	$45.6M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	−0.369%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.587%	$47.8M	$57.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2101	−0.488%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2104	−0.332%	$373K	$360K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.044%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	+0.019%	$244K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	+0.110%	$356K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+0.355%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2105	−0.298%	$187K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2053	−2.766%	$936	$838K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2104	−0.355%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	−0.170%	$272K	$786K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2104	−0.355%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2104	−0.338%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.498%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.363%	$74K	$4K	3x	as long as short
Phoenix ENAshort	+0.0150%	1h	0.2119	+0.346%	$8K	$298K	10x
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2106	−0.271%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0286%	1h	0.2105	−0.284%	$2.6M	$4.2M	50x	as long as short
Lighter ENA	+0.0296%	1h	0.2106	−0.279%	$5.3M	$13.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	−0.194%	$5.6M	$3.1M	75x	as long as short
dYdX ENA-USD	+0.0379%	1h	0.2105	−0.308%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	−0.319%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2115	+0.185%	$832K	$1.5M	50x	as long as short