Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against ApeX Omni−0.327%61s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.485% of the position

Long on ApeX Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.794%+$79 · spread now −0.327%, 7d avg −0.034%

Together, before fees+0.815%+ Points / potential airdropNado: Active · farm board+$81 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.293% cheaper against ApeX Omni than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of −0.034%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2124	0.0100	pay 0.0013% / 1h	25m 41s	$20K	$647K	50x
Short	Nado ENA-PERP	0.2117	0.0100	get 0.0012% / 1h	25m 41s	$653K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against ApeX Omni. 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 ApeX OmnibpFee NadobpOrdersPrice spread, now −0.327%Rate

Funding earned: $0
Price spread: −0.327% → −0.034%: −$29.3
Slippage, 4 orders: −$31.46
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$77.76
Costs to cover: 0.485%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 32 min ago; Nado: live order book, 3 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 ApeX Omni live order book, 32 min ago	7.12 bp	15.6 bp −$16	133.2 bp −$1,332	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	2.37 bp	8.6 bp −$9	23.7 bp −$237	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
Backpack ENA_USDC_PERP	−0.0196%	1h	0.2119	−0.259%	$365K	$396K	5x	as long as short
01 Exchange ENAUSD	−0.0080%	1h	0.2116	−0.358%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0068%	4h	0.2116	−0.367%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	−0.339%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2117	−0.344%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.028%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2114	−0.457%	$8K	$266K	10x	as long as short
dYdX ENA-USD	+0.0089%	1h	0.2116	−0.381%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2118	−0.268%	$5.2M	$13.5M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2117	−0.330%	$56K	$476K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	−0.411%	$47K	$110	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2117	−0.327%	$653K	$1.7M	10x
Hyperliquid ENA	+0.0100%	1h	0.2120	−0.188%	$115.5M	$75.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.275%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2116	−0.367%	$405K	$516K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2116	−0.390%	$128.9M	$416.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.372%	$85.4M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	−0.358%	$20.8M	$103.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.400%	$18K	$316K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2116	−0.377%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2093	−1.460%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2116	−0.381%	$11.1M	$22.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	−0.377%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	−0.344%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2115	−0.443%	$48.1M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2116	−0.372%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2116	−0.360%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	−0.594%	$243K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2113	−0.541%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2124	long leg	$20K	$647K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	−0.339%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.679%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2117	−0.330%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	−0.235%	$274K	$791K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.377%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2116	−0.389%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	−0.371%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2120	−0.210%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2117	−0.344%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.344%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	−0.370%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2121	−0.132%	$868K	$1.6M	50x	as long as short