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: Ondo Perps against Phoenix−0.345%48s7-day average −0.063% · you buy dearer than you sell

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

Long on Phoenix Short on Ondo Perps

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)−0.220%−$22 · spread now −0.345%, 7d avg −0.063%

Together, before fees−0.325%+ Points / potential airdropOndo Perps: Active · farm board−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Ondo Perps is 0.282% cheaper against Phoenix than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.063%). Swap the legs. 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	Phoenix ENA	0.2119	0.0150	pay 0.0019% / 1h	7m 54s	$8K	$298K	10x
Short	Ondo Perps ENA-USD.P	0.2112	0.0100	get 0.0013% / 1h	7m 54s	$19K	$333K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.345%Rate

Funding earned: −$10.51
Price spread: −0.345% → −0.063%: −$28.2
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$50.71
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 53 min ago; Ondo Perps: no order-book sample. 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 Phoenix live order book, 53 min ago	1.88 bp	16.7 bp −$17	59.6 bp −$596	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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	−0.713%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2103	−0.760%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2105	−0.632%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	−0.604%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.217%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2104	−0.699%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2104	−0.710%	$660K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2105	−0.656%	$113.3M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	−0.699%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2105	−0.672%	$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	−0.844%	$128.5M	$415.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.887%	$85.9M	$174.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	−0.859%	$20.7M	$101.6M	50x	as long as short
Ondo Perps ENA-USD.Pshort	+0.0100%	1h	0.2112	−0.345%	$19K	$333K	5x
Arcus ENA-USD	+0.0100%	1h	0.2104	−0.699%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+0.057%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2102	−0.812%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	−0.783%	$45.6M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	−0.713%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.930%	$47.8M	$57.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2101	−0.831%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2104	−0.675%	$373K	$360K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	−0.300%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2112	−0.326%	$244K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.235%	$356K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+0.009%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2105	−0.642%	$187K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2053	−3.101%	$936	$838K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2104	−0.699%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	−0.514%	$272K	$786K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2104	−0.699%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2104	−0.682%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2101	−0.841%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.706%	$74K	$4K	3x	as long as short
Phoenix ENAlong	+0.0150%	1h	0.2119	long leg	$8K	$298K	10x
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2106	−0.614%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0286%	1h	0.2105	−0.628%	$2.6M	$4.2M	50x	as long as short
Lighter ENA	+0.0296%	1h	0.2106	−0.623%	$5.3M	$13.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	−0.538%	$5.6M	$3.1M	75x	as long as short
dYdX ENA-USD	+0.0379%	1h	0.2105	−0.651%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	−0.662%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2115	−0.160%	$832K	$1.5M	50x	as long as short