Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Nado against Bitget+0.040%7-day average +0.086% · 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−$44as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.205%+$21 · spread now +0.040%, 7d avg +0.086%

Together, before fees+0.233%+ Points / potential airdropNado: Active · farm board+$23 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 0.045% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2123	0.0100	pay 0.0050% / 4h	2h 53m	$48.1M	$61.3M	75x
Short	Nado ENA-PERP	0.2124	0.0100	get 0.0012% / 1h	53m 22s	$700K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.086%: −$4.55
Slippage, 4 orders: −$20.8
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$44.35
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Bitget: live order book, 6 min ago; Nado: live order book, just now.

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 Bitget live order book, 6 min ago	0.47 bp	9.3 bp −$9	14.1 bp −$141	43.0 bp −$4,301	doesn't fit
Sell Nado live order book, just now	1.18 bp	8.2 bp −$8	23.9 bp −$239	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
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2125	+0.102%	$91K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2123	+0.009%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.024%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0036%	4h	0.2125	+0.099%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0060%	1h	0.2118	−0.247%	$140K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0081%	1h	0.2119	−0.160%	$366K	$383K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	+0.052%	$53K	$526K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2124	+0.040%	$700K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2120	−0.142%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2119	−0.175%	$416K	$548K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2124	+0.070%	$132.0M	$444.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2125	+0.104%	$87.2M	$186.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.137%	$21.1M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.561%	$17K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	+0.005%	$116K	$253K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	+0.209%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2123	−0.009%	$10.7M	$20.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.057%	$44.8M	$43.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2125	+0.108%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2123	long leg	$48.1M	$61.3M	75x
BingX ENA-USDT	+0.0100%	4h	0.2124	+0.052%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	−0.489%	$3.8M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.071%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.411%	$356K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	−0.090%	$33K	$689K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	+0.066%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.619%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	−0.137%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2118	−0.250%	$273K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2118	−0.231%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.227%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.292%	$74K	$4K	3x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0175%	1h	0.2118	−0.236%	$79K	$1.6M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2116	−0.316%	$7K	$351K	10x	as long as short
Lighter ENA	+0.0240%	1h	0.2121	−0.108%	$5.5M	$13.6M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2124	+0.061%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0252%	1h	0.2120	−0.114%	$2.7M	$5.0M	50x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2122	−0.058%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2111	−0.551%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	+0.029%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0523%	1h	0.2128	+0.221%	$114.6M	$74.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2115	−0.358%	$831K	$1.7M	50x	as long as short