ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.006%

Price spread now: Nado against Phoenix+1.250%57s7-day average −0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.489% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.114%−$11 on $10k

Price spread, last 3 days (all we have)−1.238%−$124 · spread now +1.250%, 7d avg −0.087%

Together, before fees−1.352%+ Points / potential airdropNado: Active · farm board−$135 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 1.337% dearer against Phoenix than usual: you sell high and buy low (spread +1.250% now, against its 7-day average of −0.087%): +$134 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 3 days (−0.114% in total) that is about 38 days. The two prices were read 57 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	Phoenix ENA	0.2116	0.0150	pay 0.0019% / 1h	27m 46s	$7K	$347K	10x
Short	Nado ENA-PERP	0.2142	0.0100	get 0.0012% / 1h	27m 46s	$711K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +1.250%Rate

Funding earned: −$10.56
Price spread: +1.250% → −0.087%: $133.75
Slippage, 4 orders: −$34.9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $74.28
Costs to cover: 0.489%
Break-even: from the start

Slippage from Phoenix: live order book, 43 min ago; Nado: 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, 43 min ago	1.88 bp	16.7 bp −$17	59.4 bp −$594	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	1.17 bp	5.5 bp −$6	24.3 bp −$243	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	+1.177%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2141	+1.172%	$98K	—	150x	as long as short
dYdX ENA-USD	+0.0025%	1h	0.2144	+1.325%	$142K	$15K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2140	+1.134%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.359%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0058%	1h	0.2140	+1.144%	$380K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	+1.238%	$63K	$520K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2142	+1.250%	$711K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2143	+1.290%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2145	+1.371%	$421K	$549K	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	0.2139	+1.111%	$132.8M	$444.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2141	+1.172%	$88.5M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2141	+1.182%	$21.0M	$110.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2141	+1.172%	$15K	$409K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2147	+1.475%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	+1.286%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2139	+1.106%	$10.9M	$20.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2139	+1.106%	$46.0M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2141	+1.196%	$24.6M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2139	+1.082%	$48.5M	$61.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2139	+1.106%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	+0.355%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.323%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.371%	$357K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.009%	$34K	$687K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2143	+1.295%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2089	−1.271%	$1K	$830K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	+1.097%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2142	+1.234%	$278K	$1.2M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2139	+1.097%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	+1.414%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	+1.144%	$75K	$4K	3x	as long as short
Phoenix ENAlong	+0.0150%	1h	0.2116	long leg	$7K	$347K	10x
01 Exchange ENAUSD	+0.0216%	1h	0.2143	+1.286%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2140	+1.150%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2138	+1.072%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0332% / S −0.0206%	1h	0.2140	+1.162%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	+1.196%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	+1.135%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	+1.304%	$848K	$1.8M	50x	as long as short
Lighter ENA	+0.0712%	1h	0.2142	+1.234%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0741%	1h	0.2144	+1.323%	$115.6M	$75.4M	10x	as long as short