ENA

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.184%

7d average—if it closes, per $10,000$18funding while held, a day+$8.55

Long on Orderly Short on Polymarket Perps

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ENA_USDC	0.2120	−0.0185	get 0.0093% / 4h	3h 16m	$42K	$40K	10x
Short	Polymarket Perps ENA-USD	0.2124	0.0100	get 0.0013% / 1h	16m 28s	$189K	$3.9M	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee OrderlybpFee Polymarket PerpsbpOrdersClose when spread is

Spread captured: $18.39
Funding while held: $8.55
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $12.94
Spread needed to break even: 0.140%

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 4 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0285%
Per $10,000 a day: +$8.55
Average in range /8h: —

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 Orderly no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 4 min ago	1.66 bp	5.7 bp −$6	7.3 bp −$73	doesn't fit	doesn't fit

Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.

SunX0.2068cheapest edgeX0.2113+2.181%Ondo Perps0.2114+2.195%ApeX Omni0.2114+2.210%Phoenix0.2116+2.301%Variational Omni0.2116+2.317%BloFin0.2117+2.355%Nado0.2119+2.449%Extended0.2120+2.488%Arcus0.2120+2.500%SoDEX0.2120+2.500%Phemex0.2120+2.500%Paradex0.2120+2.506%Gate0.2120+2.509%

Orderly0.2120+2.524%

dYdX0.2121+2.543%Aevo0.2121+2.548%Pacifica0.2121+2.559%Kraken Futures0.2121+2.562%Aster0.2121+2.571%Backpack0.2122+2.582%Popdex0.2122+2.596%Coinbase International0.2122+2.596%Deribit0.2122+2.601%Bitget0.2122+2.611%GMX0.2122+2.613%HTX0.2122+2.616%Bybit0.2123+2.659%Binance0.2124+2.672%Reya0.2124+2.673%BingX0.2124+2.679%Lighter0.2124+2.698%01 Exchange0.2124+2.698%OKX0.2124+2.708%MEXC0.2124+2.708%

Polymarket Perps0.2124+2.712%

gTrade (Gains Network)0.2125+2.724%KuCoin0.2125+2.741%Hyperliquid0.2125+2.746%Bulk0.2125+2.749%Injective0.2174+5.130%

ENA on 41 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
SunX ENA-USDT	−2.462%	+0.0100%	4h	$1K	$777K	20x	as long as short
edgeX ENAUSDC	−0.334%	+0.0100%	4h	$262K	$9.6M	20x	as long as short
Ondo Perps ENA-USD.P	−0.321%	+0.0100%	1h	$23K	$517K	5x	as long as short
ApeX Omni ENAUSDT	−0.307%	+0.0100%	1h	$34K	$703K	50x	as long as short
Phoenix ENA	−0.217%	0.0000%	1h	$5K	$477K	10x	as long as short
Variational Omni ENA	−0.202%	+0.0100%	4h	$4.2M	$9.5M	—	as long as short
BloFin ENA-USDT	−0.165%	+0.0340%	4h	$4.9M	$9.0M	75x	as long as short
Nado ENA-PERP	−0.073%	+0.0100%	1h	$673K	$2.2M	10x	as long as short
Extended ENA-USD	−0.035%	+0.0104%	1h	$1.6M	$4.1M	50x	as long as short
Arcus ENA-USD	−0.024%	+0.0100%	1h	$85K	$307K	10x	as long as short

Show all 41 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
SoDEX ENA-USD	−0.024%	+0.0100%	1h	$4K	$16K	10x	as long as short
Phemex ENAUSDT	−0.024%	+0.0100%	4h	$1.7M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	−0.017%	+0.0099%	8h	$47K	$896	10x	as long as short
Gate ENA_USDT	−0.014%	+0.0100%	4h	$10.5M	$28.7M	50x	as long as short
Orderly PERP_ENA_USDClong	0.000%	−0.0185%	4h	$42K	$40K	10x
dYdX ENA-USD	+0.019%	+0.8773%	1h	$140K	$12K	5x	as long as short
Aevo ENA-PERP	+0.024%	+0.0104%	1h	$78K	$11K	3x	as long as short
Pacifica ENA	+0.034%	+0.0100%	1h	$410K	$712K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.037%	−0.0842%	1h	$2.5M	$9.9M	50x	as long as short
Aster ENAUSDT	+0.046%	+0.0100%	4h	$1.5M	$3.2M	50x	as long as short
Backpack ENA_USDC_PERP	+0.057%	−0.0560%	1h	$359K	$666K	5x	as long as short
Popdex ENAUSDT	+0.071%	+0.0096%	1h	$55K	$607K	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.071%	+0.0552%	1h	$836K	$3.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.075%	0.0000%	1h	$94K	$2.5M	50x	as long as short
Bitget ENAUSDT	+0.085%	−0.0076%	4h	$48.4M	$78.7M	75x	as long as short
GMX ENA/USD [ETH-USDC]	+0.087%	L +0.0059% / S −0.0007%	1h	$18K	—	100x	as long as short
HTX ENA-USDT	+0.090%	+0.0100%	4h	$273K	$2.2M	50x	as long as short
Bybit ENAUSDT	+0.132%	+0.0020%	4h	$90.6M	$224.0M	50x	as long as short
Binance ENAUSDT	+0.144%	+0.0100%	4h	$133.4M	$544.0M	75x	as long as short
Reya ENARUSDPERP	+0.145%	+0.0412%	1h	$1K	$5K	15x	as long as short
BingX ENA-USDC	+0.151%	+0.0100%	4h	—	$6.5M	—	as long as short
Lighter ENA	+0.170%	+0.0264%	1h	$5.9M	$17.2M	10x	as long as short
01 Exchange ENAUSD	+0.170%	−0.0120%	1h	$4K	$572	10x	as long as short
OKX ENA-USDT-SWAP	+0.179%	+0.0100%	4h	$20.6M	$151.2M	50x	as long as short
MEXC ENA_USDT	+0.179%	+0.0100%	4h	$46.5M	$66.4M	200x	as long as short
Polymarket Perps ENA-USDshort	+0.184%	+0.0100%	1h	$189K	$3.9M	10x
gTrade (Gains Network) ENA/USD	+0.196%	L +0.0003% / S −0.0003%	1h	$99K	—	150x	as long as short
KuCoin ENAUSDTM	+0.212%	+0.0100%	4h	$22.5M	$18.2M	75x	as long as short
Hyperliquid ENA	+0.217%	+0.0100%	1h	$109.5M	$95.2M	10x	as long as short
Bulk ENA-USD	+0.219%	+0.0100%	1h	$89K	−$0	10x	as long as short
Injective ENA/USDC PERP	+2.542%	+0.0033%	1h	$535	$1K	5.5x	as long as short