Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Arcus against Nado+0.072%7-day average +0.016% · 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−$43as in the Price arb table

costs, in and out, $10k−$490.486% of the position

Long on Nado Short on Arcus

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)−1.486%−$149 · spread now +0.072%, 7d avg +0.016%

Together, before fees−1.506%+ Points / potential airdropNado: Active · farm board−$151 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: Arcus is 0.056% dearer against Nado than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2142	0.0100	pay 0.0012% / 1h	28m 07s	$695K	$1.8M	10x
Short	Arcus ENA-USD	0.2144	0.0100	get 0.0013% / 1h	28m 07s	$117K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Nado. 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 NadobpFee ArcusbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → +0.016%: $5.63
Slippage, 4 orders: −$37.11
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$42.99
Costs to cover: 0.486%
Break-even: 857533411810395.0 days

Slippage from Nado: live order book, 1 min ago; Arcus: live order book, 40 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 Nado live order book, 1 min ago	2.34 bp	9.6 bp −$10	27.4 bp −$274	doesn't fit	doesn't fit
Sell Arcus live order book, 40 min ago	6.91 bp	11.5 bp −$11	25.7 bp −$257	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2140	−0.138%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	−0.184%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0016%	1h	0.2145	+0.111%	$142K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.889%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0039%	4h	0.2139	−0.180%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2141	−0.082%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2141	−0.068%	$56K	$521K	50x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2142	long leg	$695K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2142	−0.018%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2144	+0.080%	$420K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2138	−0.196%	$132.5M	$445.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2138	−0.212%	$87.8M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2138	−0.226%	$21.0M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2128	−0.679%	$19K	$411K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2144	+0.072%	$117K	$251K	10x
Bulk ENA-USD	+0.0100%	1h	0.2105	−1.735%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2138	−0.208%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2139	−0.161%	$45.6M	$44.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2140	−0.138%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2138	−0.203%	$48.7M	$61.2M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2139	−0.180%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2139	−0.147%	$383K	$398K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2140	−0.128%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2140	−0.099%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−0.699%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2142	−0.021%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2142	−0.002%	$210K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2088	−2.560%	$1K	$851K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	−0.161%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2144	+0.049%	$276K	$952K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2139	−0.161%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2145	+0.105%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	−0.131%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2147	+0.226%	$8K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2139	−0.157%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0249%	1h	0.2139	−0.153%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2139	−0.165%	$51K	—	100x	as long as short
Lighter ENA	+0.0376%	1h	0.2141	−0.068%	$5.6M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	−0.137%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0525%	1h	0.2142	−0.007%	$115.9M	$73.2M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2140	−0.105%	$838K	$1.8M	50x	as long as short