Financial Derivatives (Schedule of Gains and Losses on Derivative Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended
Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps	$ 5,791	$ (1,702)
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(31,238)	25,037
Realized gains (losses) on financial derivatives, net	(25,447)	23,335
Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps	3,452	561
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(684)	44,738
Unrealized gains (losses) on financial derivatives, net	2,768	45,299
Derivative [Member]
Derivative [Line Items]
Foreign currency translation	5	(8)
Interest rate swaps \| Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps	5,791	(1,702)
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(31,075)	(2,149)
Realized gains (losses) on financial derivatives, net	(25,284)	(3,851)
Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps	3,452	561
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	13,173	34,051
Unrealized gains (losses) on financial derivatives, net	16,625	34,612
Credit default swaps on asset-backed securities \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	1	(4)
Realized gains (losses) on financial derivatives, net	1	(4)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	0	1
Unrealized gains (losses) on financial derivatives, net	0	1
Credit default swaps on corporate bond indices \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(275)	15
Realized gains (losses) on financial derivatives, net	(275)	15
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	2,158	407
Unrealized gains (losses) on financial derivatives, net	2,158	407
Credit default swaps on corporate bond indices \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(1,348)	(177)
Realized gains (losses) on financial derivatives, net	(1,348)	(177)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	207	306
Unrealized gains (losses) on financial derivatives, net	207	306
Credit default swaps on corporate bonds \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(41)	(8)
Realized gains (losses) on financial derivatives, net	(41)	(8)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(19)	16
Unrealized gains (losses) on financial derivatives, net	(19)	16
TBA securities \| Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	4,292	0
Realized gains (losses) on financial derivatives, net	4,292	0
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(10,077)	(30)
Unrealized gains (losses) on financial derivatives, net	(10,077)	(30)
Futures \| Interest Rate Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	(2,933)	6,659
Realized gains (losses) on financial derivatives, net	(2,933)	6,659
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(5,664)	5,260
Unrealized gains (losses) on financial derivatives, net	(5,664)	5,260
Forwards \| Currency risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	141	326
Realized gains (losses) on financial derivatives, net	141	326
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(382)	136
Unrealized gains (losses) on financial derivatives, net	(382)	136
Warrants \| Equity Market/Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	0	(413)
Realized gains (losses) on financial derivatives, net	0	(413)
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	(80)	766
Unrealized gains (losses) on financial derivatives, net	(80)	766
Options \| Credit Risk [Member]
Derivative [Line Items]
Net Realized Gains (Losses) Other Than Periodic Settlements of Interest Rate Swaps	0	20,788
Realized gains (losses) on financial derivatives, net	0	20,788
Change in Net Unrealized Gains (Losses) Other Than on Accrued Periodic Settlements of Interest Rate Swaps	0	3,825
Unrealized gains (losses) on financial derivatives, net	$ 0	$ 3,825

Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements

No definition available.

Name:	efc_ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlements
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

- Definition

Change in Net Unrealized Gains (Losses) on Accrued Periodic Settlements of Interest Rate Swaps

+ References

No definition available.

+ Details

Name:	efc_ChangeinNetUnrealizedGainsLossesonAccruedPeriodicSettlementsofInterestRateSwaps
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

- Definition

Net Realized Gain/Loss on Derivatives including gain (loss) on foreign currency transactions

+ References

No definition available.

+ Details

Name:	efc_NetRealizedGainLossonDerivativesincludinggainlossonforeigncurrencytransactions
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Net Realized Gains (Losses) on Periodic Settlements

+ References

No definition available.

+ Details

Name:	efc_NetRealizedGainsLossesonPeriodicSettlements
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Net Realized Gains (Losses) on Periodic Settlements of Interest Rate Swaps

+ References

No definition available.

+ Details

Name:	efc_NetRealizedGainsLossesonPeriodicSettlementsofInterestRateSwaps
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Unrealized Gain (Loss) on Derivatives, Including Gain Loss from Foreign Currency Remeasurement

+ References

No definition available.

+ Details

Name:	efc_UnrealizedGainLossonDerivativesIncludingGainLossfromForeignCurrencyRemeasurement
Namespace Prefix:	efc_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_DerivativeLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

- Definition

Amount before tax of foreign currency transaction unrealized gain (loss) recognized in the income statement.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124440516&loc=d3e30840-110895

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=125521441&loc=d3e30690-110894

+ Details

Name:	us-gaap_ForeignCurrencyTransactionGainLossUnrealized
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	duration

- Details

Name:	us-gaap_InvestmentTypeAxis=us-gaap_DerivativeMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateContractMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapsOnAssetBackedSecuritiesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CreditRiskContractMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapAssetBackedIndicesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapCorporateBondIndicesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_CreditDefaultSwapsOnCorporateBondsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_TBAsecuritiesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_FutureMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_ForwardContractsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=efc_CurrencyriskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=us-gaap_WarrantMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=efc_EquityMarketCreditRiskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_FinancialInstrumentAxis=efc_OptionsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: