ENA funding rates

ENA perpetual funding is currently quoted across 16 venues, ranging from -31.5% to +135.5% APR. The most reliable delta-neutral pairing for ENA right now is long Variational / short Hyena at +144.2% net APR (low risk, ~0.6d to break even).

as of 2026-07-29 10:38 UTC

Best delta-neutral pairing

Long Variational / Short Hyena

+144.2% net APR

Backtested (30d): +3.6%
Stability: 93.3%
Risk: low
Breakeven: ~0.6d

Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.

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ENA funding by exchange

Exchange	Funding APR	Interval
Hyena	+135.48%	8h
Ethereal	+16.67%	1h
Hyperliquid	+10.95%	8h
Grvt	+10.95%	4h
SoDEX	+10.95%	1h
Paradex	+10.79%	8h
dYdX	+0.00%	1h
Phoenix	+0.00%	1h
Aster	-4.27%	4h
01xyz	-6.13%	1h
Nado	-9.62%	8h
Variational	-18.71%	4h
Kraken	-21.08%	1h
Pacifica	-22.89%	1h
Lighter	-26.28%	1h
Extended	-31.54%	1h

Frequently asked

What is the ENA funding rate right now?

ENA perpetual funding ranges from -31.54% to 135.48% APR across 16 exchanges we track; the widest delta-neutral spread is long Variational / short Hyena at 144.2% net APR.

Which exchange has the highest ENA funding rate?

Hyena currently has the highest at 135.48% APR. See the full ranking above.

What is funding rate arbitrage?

The strategy behind every number on this page

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Ranked by fee-adjusted net APR