ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0460%/8h= +50.4% APRnext payment +$0.58 per $10,000 · paid last 24h +0.116%

Price spread now: Coinbase International against Phoenix−0.067%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$730.729% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.342%+$34 on $10k

Price spread, last 3 days (all we have)+0.500%+$50 · spread now −0.067%, 7d avg +0.068%

Together, before fees+0.842%+$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.135% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of +0.068%). If the spread goes back, that is −$14 on $10k: about 24 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.342% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ENA	0.2090	0.0076	pay 0.0009% / 1h	7m 20s	$5K	$394K	10x
Short	Coinbase International ENA-PERP-INTX	0.2089	0.0536	get 0.0067% / 1h	7m 20s	$798K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now −0.067%Rate

Funding earned: $96.65
Price spread: −0.067% → +0.068%: −$13.54
Slippage, 4 orders: −$55.89
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $10.21
Costs to cover: 0.729%
Break-even: 6.3 days

Slippage from Phoenix: live order book, 14 min ago; Coinbase International: 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 Phoenix live order book, 14 min ago	1.90 bp	16.9 bp −$17	59.7 bp −$597	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	9.81 bp	16.2 bp −$16	22.7 bp −$227	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
Backpack ENA_USDC_PERP	−0.0284%	1h	0.2088	−0.100%	$360K	$483K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0079%	4h	0.2085	−0.258%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2087	−0.120%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2086	−0.211%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2087	−0.162%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.598%	$522	$57K	5.5x	as long as short
Phoenix ENAlong	+0.0076%	1h	0.2090	long leg	$5K	$394K	10x
Gate ENA_USDT	+0.0082%	4h	0.2087	−0.134%	$10.4M	$21.8M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2087	−0.144%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2088	−0.101%	$47K	$221	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	0.2088	−0.077%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2088	−0.087%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2089	−0.057%	$404K	$592K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2087	−0.156%	$128.4M	$464.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2084	−0.273%	$86.8M	$193.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2085	−0.234%	$20.1M	$112.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2088	−0.100%	$19K	$417K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2089	−0.048%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	−0.150%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2087	−0.139%	$45.2M	$49.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2088	−0.081%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2084	−0.306%	$47.1M	$65.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2086	−0.201%	—	$32.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	−0.215%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.029%	$248K	$7.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	+0.051%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2090	0.000%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	−0.100%	$182K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2037	−2.550%	$1K	$811K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2085	−0.239%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.139%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2084	−0.287%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2085	−0.239%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0105%	1h	0.2086	−0.181%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2085	−0.262%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0215% / S −0.0164%	1h	0.2086	−0.170%	$50K	—	100x	as long as short
Lighter ENA	+0.0304%	1h	0.2091	+0.053%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2091	+0.024%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0345%	1h	0.2090	−0.010%	$110.1M	$80.1M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2087	−0.152%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0536%	1h	0.2089	−0.067%	$798K	$2.1M	50x
dYdX ENA-USD	+0.5141%	1h	0.2089	−0.060%	$138K	$15K	5x	as long as short