ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0564%/8h= +61.8% APRnext payment +$0.70 per $10,000 · paid last 24h +0.139%

Price spread now: Coinbase International against Polymarket Perps+0.009%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.704%+$70 on $10k

Price spread, last 4 days (all we have)+0.402%+$40 · spread now +0.009%, 7d avg +0.126%

Together, before fees+1.106%+$111 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.117% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.126%). If the spread goes back, that is −$12 on $10k: about 17 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2115	0.0100	pay 0.0013% / 1h	9m 36s	$188K	$2.3M	10x
Short	Coinbase International ENA-PERP-INTX	0.2115	0.0664	get 0.0083% / 1h	9m 36s	$832K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket 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 Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now +0.009%Rate

Funding earned: $118.44
Price spread: +0.009% → +0.126%: −$11.66
Slippage, 4 orders: −$46.69
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $42.08
Costs to cover: 0.647%
Break-even: 4.5 days

Slippage from Polymarket Perps: live order book, 4 min ago; Coinbase International: live order book, 4 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 Polymarket Perps live order book, 4 min ago	2.12 bp	9.8 bp −$10	10.4 bp −$104	14816.9 bp −$1.48M	doesn't fit
Sell Coinbase International live order book, 4 min ago	11.54 bp	22.8 bp −$23	31.2 bp −$312	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
Orderly PERP_ENA_USDC	−0.0035%	4h	0.2111	−0.199%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0034%	1h	0.2111	−0.184%	$79K	$1.3M	50x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2108	−0.359%	$4K	$302	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2112	−0.158%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.388%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2108	−0.340%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	−0.050%	$663K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2110	−0.265%	$113.6M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2111	−0.181%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2108	−0.355%	$412K	$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	0.2107	−0.404%	$129.0M	$417.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.373%	$86.2M	$175.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2108	−0.340%	$20.7M	$102.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	−0.175%	$19K	$333K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	−0.340%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+0.227%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2107	−0.392%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	−0.369%	$45.8M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	−0.288%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2106	−0.444%	$47.9M	$57.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2107	−0.364%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2112	−0.161%	$374K	$362K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	−0.131%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+0.162%	$244K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2119	+0.180%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+0.180%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2115	long leg	$188K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.444%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	−0.151%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.080%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2110	−0.246%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	−0.384%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2107	−0.409%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.207%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.170%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2112	−0.165%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2113	−0.126%	$2.7M	$4.3M	50x	as long as short
Lighter ENA	+0.0296%	1h	0.2109	−0.293%	$5.3M	$13.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	−0.014%	$5.6M	$3.1M	75x	as long as short
dYdX ENA-USD	+0.0370%	1h	0.2110	−0.265%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.157%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0664%	1h	0.2115	+0.009%	$832K	$1.5M	50x