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% APRpaid last 24h 0.000%

Price spread now: Nado against Binance+0.035%7-day average +0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on Binance 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 7 days−0.221%−$22 · spread now +0.035%, 7d avg +0.008%

Together, before fees−0.200%+ Points / potential airdropNado: Active · farm board−$20 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 0.028% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2114	0.0100	pay 0.0050% / 4h	3h 59m	$128.6M	$415.6M	75x
Short	Nado ENA-PERP	0.2114	0.0100	get 0.0012% / 1h	59m 56s	$659K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.008%: $2.76
Slippage, 4 orders: −$14.54
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$28.78
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Nado: live order book, 4 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 Binance live order book, 14 min ago	0.24 bp	10.0 bp −$10	16.7 bp −$167	63.6 bp −$6,363	doesn't fit
Sell Nado live order book, 4 min ago	0.47 bp	7.1 bp −$7	19.2 bp −$192	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	−0.0126%	1h	0.2115	+0.076%	$362K	$401K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0081%	4h	0.2115	+0.066%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2116	+0.109%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.099%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2116	+0.107%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.464%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2110	−0.166%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2115	+0.066%	$56K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2116	+0.102%	$47K	$110	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2114	+0.035%	$659K	$1.7M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2116	+0.116%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2117	+0.160%	$404K	$521K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2114	long leg	$128.6M	$415.6M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2114	0.000%	$85.3M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	+0.132%	$21.1M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2105	−0.393%	$20K	$318K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2116	+0.114%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.336%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2114	+0.033%	$11.1M	$22.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	+0.066%	$46.2M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2117	+0.151%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	+0.033%	$48.0M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2115	+0.066%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	+0.013%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	−0.018%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2115	+0.076%	$359K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	+0.114%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+0.128%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.342%	$1K	$850K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	+0.114%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.232%	$274K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	+0.066%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2115	+0.051%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2116	+0.097%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0151%	1h	0.2118	+0.188%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0192%	1h	0.2118	+0.208%	$5.2M	$13.5M	10x	as long as short
Hyperliquid ENA	+0.0216%	1h	0.2117	+0.180%	$115.4M	$74.8M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+0.145%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2116	+0.107%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.062%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	+0.047%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2120	+0.312%	$866K	$1.7M	50x	as long as short