Ethena
Top pairs by funding actually paid over the last 7 days on a $10,000 position, after entry and exit costs — not the instant APR.
$10,000 in ENA long Hotcoin / short BloFin → +$52.11 over the week after costs (48.3% APR paid).
Past 7 days, not a forecast. Costs = taker fees on both venues, in and out. Upcoming payouts →
| Exchange | Funding APR↓ | Interval | Open Interest↕ | Mark Price↕ |
|---|---|---|---|---|
 dYdXBest Short | +117.07% | 1h | $180K | $0.2579 |
 HTX | +64.40% | 4h | $301K | $0.2589 |
 BloFin | +43.83% | 4h | $6.5M | $0.2579 |
 Toobit | +16.17% | 4h | $17.5M | $0.2579 |
 Extended | +11.40% | 1h | $539K | $0.2575 |
 Binance Futures | +10.96% | 4h | $149.2M | $0.2579 |
 OKX | +10.96% | 4h | $22.6M | $0.2579 |
 Hyperliquid | +10.96% | 1h | $74.7M | $0.2582 |
 BingX | +10.96% | 4h | $27.0M | $0.2579 |
 Gate.io | +10.96% | 4h | $47.7M | $0.2579 |
 KuCoin | +10.96% | 4h | $29.2M | $0.2579 |
 MEXC | +10.96% | 4h | $48.3M | $0.2578 |
 Aster | +10.96% | 4h | $1.2M | $0.2578 |
 Pacifica | +10.96% | 1h | $114K | $0.258 |
 ApeX | +10.96% | 1h | $32K | $0.2578 |
 grvt | +10.96% | 4h | $462K | $0.2577 |
 NADO | +10.96% | 1h | $606K | $0.2577 |
 Variational | +10.96% | 4h | $4.9M | $0.2581 |
 edgeX V2 | +10.96% | 4h | $290K | $0.2578 |
 Bullpen | +10.96% | 1h | $74.7M | $0.2582 |
 Ondo | +10.96% | 1h | $78K | $0.2579 |
 Bitunix | +10.96% | 4h | — | $0.2579 |
 Hotcoin | +10.96% | 4h | $9.8M | $0.2576 |
 WEEX | +10.96% | 4h | $9.6M | $0.2579 |
 Pionex | +10.96% | 4h | $2.6M | $0.2578 |
 CoinW | +10.96% | 4h | — | $0.2581 |
 LBank | +10.96% | 4h | — | $0.2579 |
 Arcus | +10.96% | 1h | $243K | $0.2583 |
 Polymarket | +10.96% | 1h | $161K | $0.2581 |
 PopDEX | +10.96% | 1h | $109K | $0.2578 |
 dreamcash | +10.96% | 1h | $74.7M | $0.2582 |
 Ventuals | +10.96% | 1h | $74.7M | $0.2582 |
 Lighter | +10.52% | 1h | $6.6M | $0.2581 |
 Paradex | +10.04% | 8h | $24K | $0.2575 |
 Bitget | +7.01% | 4h | $49.6M | $0.2581 |
 Bybit | +3.83% | 4h | $117.6M | $0.2579 |
 TxFlow | +1.39% | 1h | $86K | $0.2581 |
 WOOFi Pro | +0.56% | 4h | $42K | $0.2575 |
 Phoenix | +0.07% | 1h | $26K | $0.2589 |
 N1 | +0.00% | 1h | $6K | $0.258 |
 SoDEX | -0.17% | 1h | $7K | $0.2579 |
 Crypto.com | -1.06% | 1h | $50K | $0.2579 |
 Backpack | -14.56% | 1h | $464K | $0.2578 |
 PhemexBest Long | -29.37% | 4h | $2.0M | $0.2579 |
Funding data updated 11:08 UTC, 2026-10-01
ENA (Ethena) perpetual futures funding rates — also called perpetual swap funding rates — are aggregated live by exchange across 44 venues on ORBIT. Funding is the recurring payment exchanged between long and short traders that keeps a perpetual swap tethered to the spot price — when it is positive, longs pay shorts; when negative, shorts pay longs. Right now ENA funding ranges from -29.37% annualized on Phemex to +117.07% on dYdX.
The widest cross-exchange funding spread for ENA is currently 146.4% APR. A delta-neutral funding trade captures this gap by going long on Phemex — where funding is lowest, so the long leg is paid or pays the least — and short on dYdX, where funding is highest, so the short leg collects. Because the two legs are equal and opposite, the asset's price moves cancel out and what is left is the funding spread. ORBIT's backtester replays the real funding history of both legs and subtracts live taker fees and order-book slippage, so the result is net PnL, not a headline number.
ENA ranks #16 by open interest among tracked perpetual assets, total open interest across covered venues is $854.4M, 24h volume is $1.58B, the volume-weighted mark price is $0.258. Deeper liquidity means a funding spread can be traded at larger size with lower slippage — use the Min OI filter on the screener to surface only markets you can realistically enter and exit.