Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Nado against Arcus−0.031%7-day average −0.015% · 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−$41as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Arcus 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 3 days (all we have)+0.339%+$34 · spread now −0.031%, 7d avg −0.015%

Together, before fees+0.360%+ Points / potential airdropNado: Active · farm board+$36 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2097	0.0100	pay 0.0013% / 1h	21m 24s	$82K	$222K	10x
Short	Nado ENA-PERP	0.2096	0.0100	get 0.0012% / 1h	21m 24s	$660K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Arcus. 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 ArcusbpFee NadobpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.015%: −$1.61
Slippage, 4 orders: −$27.58
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$40.68
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Arcus: live order book, 62 min ago; Nado: live order book, 2 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 Arcus live order book, 62 min ago	9.48 bp	12.5 bp −$12	23.8 bp −$238	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	0.24 bp	7.8 bp −$8	22.8 bp −$228	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	−0.0068%	1h	0.2097	+0.014%	$362K	$447K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0052%	4h	0.2094	−0.119%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	−0.086%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	−0.095%	$101K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.259%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2097	−0.004%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.095%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	−0.082%	$47K	$221	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2096	−0.031%	$660K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2096	−0.047%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2096	−0.033%	$405K	$578K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.081%	$129.2M	$456.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.134%	$87.2M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	−0.105%	$20.2M	$111.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.205%	$15K	$401K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2097	long leg	$82K	$222K	10x
Bulk ENA-USD	+0.0100%	1h	0.2088	−0.405%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	−0.091%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−0.091%	$45.8M	$46.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	0.000%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.176%	$47.3M	$64.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	−0.086%	—	$32.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.368%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.211%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.143%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2094	−0.143%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	−0.052%	$179K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2045	−2.485%	$968	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.095%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2098	+0.043%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.143%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.076%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2091	−0.267%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0128%	1h	0.2097	+0.019%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0238% / S −0.0406%	1h	0.2095	−0.097%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2094	−0.134%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2092	−0.262%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.127%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0512%	1h	0.2099	+0.086%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	+0.024%	$806K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0581%	1h	0.2099	+0.076%	$110.8M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1963%	1h	0.2096	−0.070%	$138K	$15K	5x	as long as short