ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.141%

Price spread now: Lighter against Polymarket Perps+0.119%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs+$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$200.196% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.687%+$69 on $10k

Price spread, last 7 days−0.084%−$8 · spread now +0.119%, 7d avg +0.080%

Together, before fees+0.603%+ Points / potential airdropLighter: Season 3 · farm board+$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.039% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2099	0.0100	pay 0.0013% / 1h	7m 25s	$186K	$2.3M	10x
Short	Lighter ENA	0.2102	0.0280	get 0.0035% / 1h	7m 25s	$5.3M	$13.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.119%Rate

Funding earned: $37.8
Price spread: +0.119% → +0.080%: $3.93
Slippage, 4 orders: −$11.63
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $22.1
Costs to cover: 0.196%
Break-even: 2.9 days

Slippage from Polymarket Perps: live order book, 1 min ago; Lighter: live order book, 6 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, 1 min ago	3.33 bp	7.8 bp −$8	9.5 bp −$95	15327.6 bp −$1.53M	doesn't fit
Sell Lighter live order book, 6 min ago	0.24 bp	2.3 bp −$2	5.0 bp −$50	258.9 bp −$25.9K	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	−0.0040%	4h	0.2099	−0.005%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2098	−0.052%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.010%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2100	+0.029%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.143%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.067%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2098	−0.087%	$659K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2101	+0.057%	$113.2M	$71.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2100	+0.035%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2100	+0.029%	$410K	$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	0.2100	+0.038%	$128.5M	$415.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	+0.014%	$85.5M	$174.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	+0.071%	$20.7M	$101.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	+0.576%	$19K	$325K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.019%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+0.981%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2099	+0.005%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2100	+0.010%	$45.6M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.010%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.062%	$47.7M	$57.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2100	+0.033%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2104	+0.243%	$373K	$360K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.621%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2108	+0.411%	$243K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.410%	$355K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2108	+0.410%	$22K	$650K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2099	long leg	$186K	$2.3M	10x
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.434%	$954	$838K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.019%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2108	+0.405%	$272K	$786K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2104	+0.219%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2100	+0.037%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.060%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.014%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2106	+0.329%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2100	+0.039%	$51K	—	100x	as long as short
Lighter ENAshort	+0.0280%	1h	0.2102	+0.119%	$5.3M	$13.9M	10x
Kraken Futures PF_ENAUSD	+0.0287%	1h	0.2101	+0.055%	$2.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	+0.381%	$5.6M	$3.1M	75x	as long as short
dYdX ENA-USD	+0.0394%	1h	0.2099	+0.004%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.049%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2107	+0.352%	$858K	$1.5M	50x	as long as short