ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0657%/8h= −72.0% APRnext payment −$0.82 per $10,000 · paid last 24h −0.032%

Price spread now: Backpack against Nado−0.019%7-day average +0.017% · 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−$36as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 3 days (all we have)−0.625%−$63 · spread now −0.019%, 7d avg +0.017%

Together, before fees−0.553%+ Points / potential airdropNado: Active · farm board−$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Backpack is 0.036% cheaper against Nado than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.017%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.073%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.073% in total (about 8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.82 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2107	0.0100	pay 0.0012% / 1h	57m 56s	$656K	$1.8M	10x
Short	Backpack ENA_USDC_PERP	0.2107	−0.0557	pay 0.0070% / 1h	57m 56s	$363K	$488K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$138.05
Price spread: −0.019% → +0.017%: −$3.58
Slippage, 4 orders: −$15.8
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$174.43
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Backpack: live order book, 30 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	0.95 bp	7.5 bp −$7	16.6 bp −$166	doesn't fit	doesn't fit
Sell Backpack live order book, 30 min ago	1.64 bp	8.6 bp −$9	41.9 bp −$419	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_PERPshort	−0.0557%	1h	0.2107	−0.019%	$363K	$488K	5x
Orderly PERP_ENA_USDC	−0.0099%	4h	0.2105	−0.085%	$42K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0048%	1h	0.2107	0.000%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0020%	4h	0.2105	−0.114%	$10.4M	$21.4M	50x	as long as short
Phoenix ENA	0.0000%	1h	0.2110	+0.161%	$5K	$389K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2107	−0.019%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2107	−0.010%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.778%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	−0.047%	$60K	$549K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	−0.022%	$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	0.2107	long leg	$656K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2107	−0.013%	$1.5M	$3.5M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	+0.005%	$404K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2105	−0.087%	$130.7M	$475.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2104	−0.133%	$88.6M	$196.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2105	−0.085%	$20.2M	$116.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2110	+0.138%	$19K	$447K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	0.000%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2108	+0.028%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2105	−0.085%	$45.4M	$48.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	−0.047%	$24.4M	$16.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	−0.152%	$47.7M	$67.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2105	−0.104%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.260%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2109	+0.097%	$253K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	+0.095%	$362K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	+0.142%	$33K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2108	+0.043%	$184K	$3.1M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2057	−2.349%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2105	−0.095%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2112	+0.256%	$274K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2105	−0.095%	$1.8M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2107	+0.021%	$2.7M	$5.9M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2105	−0.071%	$77K	$11K	3x	as long as short
Extended ENA-USD	+0.0112%	1h	0.2104	−0.121%	$1.6M	$4.1M	50x	as long as short
Lighter ENA	+0.0200%	1h	0.2108	+0.033%	$5.7M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0210% / S −0.0158%	1h	0.2106	−0.041%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0231%	1h	0.2109	+0.100%	$112.0M	$81.4M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2109	+0.081%	$5.6M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	−0.079%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2116	+0.446%	$809K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.4854%	1h	0.2108	+0.046%	$139K	$12K	5x	as long as short