ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0116%/8h= −12.7% APRnext payment −$0.15 per $10,000 · paid last 24h −0.134%

Price spread now: Nado against Lighter−0.295%7-day average −0.086% · 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−$200.200% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.432%−$43 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.295%, 7d avg −0.086%

Together, before fees−0.405%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.210% cheaper against Lighter than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.086%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ENA	0.2117	0.0216	pay 0.0027% / 1h	55m 06s	$5.2M	$13.2M	10x
Short	Nado ENA-PERP	0.2111	0.0100	get 0.0012% / 1h	55m 06s	$657K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Lighter. 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 LighterbpFee NadobpOrdersPrice spread, now −0.295%Rate

Funding earned: −$24.36
Price spread: −0.295% → −0.086%: −$20.98
Slippage, 4 orders: −$12.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$65.32
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 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 Lighter live order book, 3 min ago	0.94 bp	1.9 bp −$2	7.5 bp −$75	302.7 bp −$30.3K	doesn't fit
Sell Nado live order book, 4 min ago	0.95 bp	8.5 bp −$8	18.2 bp −$182	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	−0.0308%	1h	0.2117	+0.019%	$362K	$401K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0084%	4h	0.2112	−0.203%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	−0.132%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	−0.180%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.312%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0040%	1h	0.2109	−0.375%	$139K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2110	−0.307%	$4K	$302	10x	as long as short
Phoenix ENA	+0.0076%	1h	0.2109	−0.359%	$8K	$274K	10x	as long as short
Gate ENA_USDT	+0.0090%	4h	0.2116	−0.028%	$11.1M	$22.0M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2110	−0.321%	$56K	$464K	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	0.2107	−0.478%	$47K	$110	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2111	−0.295%	$657K	$1.7M	10x
Aster ENAUSDT	+0.0100%	4h	0.2114	−0.148%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2110	−0.315%	$403K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2116	−0.041%	$128.7M	$415.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2114	−0.113%	$85.3M	$175.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	−0.057%	$21.0M	$103.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.099%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2110	−0.321%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	−0.487%	$92K	$4K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	+0.009%	$46.2M	$40.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2116	−0.028%	$25.0M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	−0.146%	$47.9M	$57.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2116	−0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2108	−0.426%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	−0.264%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	−0.286%	$352K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	−0.321%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	−0.189%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.551%	$1K	$851K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2115	−0.085%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2122	+0.269%	$274K	$793K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.038%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2114	−0.132%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	−0.147%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2116	−0.045%	$2.6M	$4.3M	50x	as long as short
Lighter ENAlong	+0.0216%	1h	0.2117	long leg	$5.2M	$13.2M	10x
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2113	−0.195%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2113	−0.161%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	−0.274%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0437%	1h	0.2120	+0.137%	$115.5M	$74.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2120	+0.132%	$866K	$1.7M	50x	as long as short