Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.053%

Price spread now: Aster against Nado+0.124%7-day average +0.037% · 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−$25as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.100%+$10 on $10k

Price spread, last 3 days (all we have)−0.463%−$46 · spread now +0.124%, 7d avg +0.037%

Together, before fees−0.363%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$36 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: Aster is 0.087% dearer against Nado than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2089	0.0100	pay 0.0012% / 1h	39m 18s	$657K	$1.8M	10x
Short	Aster ENAUSDT	0.2092	0.0100	get 0.0050% / 4h	2h 39m	$1.5M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.037%: $8.73
Slippage, 4 orders: −$18.94
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$25.22
Costs to cover: 0.339%
Break-even: 2590672023363451.0 days

Slippage from Nado: live order book, 4 min ago; Aster: 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 Nado live order book, 4 min ago	0.95 bp	4.9 bp −$5	14.3 bp −$143	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	1.67 bp	13.7 bp −$14	21.4 bp −$214	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	−0.0349%	1h	0.2096	+0.330%	$361K	$486K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2088	−0.057%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2090	+0.034%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0016%	4h	0.2089	−0.024%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2089	−0.029%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2088	−0.067%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.627%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	+0.378%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2089	−0.019%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2090	+0.016%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERPlong	+0.0100%	1h	0.2089	long leg	$657K	$1.8M	10x
Aster ENAUSDTshort	+0.0100%	4h	0.2092	+0.124%	$1.5M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2092	+0.143%	$402K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	−0.086%	$128.7M	$468.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2087	−0.105%	$87.3M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2088	−0.067%	$20.1M	$113.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2097	+0.354%	$19K	$429K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	+0.077%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	+0.220%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2088	−0.086%	$44.6M	$48.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.077%	$24.1M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2086	−0.158%	$47.3M	$66.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2087	−0.101%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2095	+0.266%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+0.288%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.303%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	+0.316%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	+0.096%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.470%	$855	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2088	−0.067%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.292%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2088	−0.067%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2088	−0.086%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2089	−0.021%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2090	+0.008%	$2.7M	$5.8M	50x	as long as short
Lighter ENA	+0.0208%	1h	0.2091	+0.067%	$5.6M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2088	−0.089%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0318%	1h	0.2093	+0.187%	$111.2M	$80.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2088	−0.048%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	+0.006%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.546%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9663%	1h	0.2094	+0.200%	$138K	$12K	5x	as long as short