Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Nado−0.007%7-day average — · 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−$28as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2098	0.0100	pay 0.0012% / 1h	51m 15s	$659K	$1.7M	10x
Short	BingX ENA-USDT	0.2098	0.0100	get 0.0050% / 4h	51m 15s	—	$32.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.007%Rate

Funding earned: $0
Price spread: −0.007% → 0.000%: −$0.71
Slippage, 4 orders: −$10.7
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$28.41
Costs to cover: 0.277%
Break-even: 2918990274826785.5 days

Slippage from Nado: live order book, 2 min ago; BingX: live order book, 3 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, 2 min ago	1.42 bp	7.3 bp −$7	15.6 bp −$156	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	0.95 bp	5.9 bp −$6	9.3 bp −$93	14.6 bp −$1,458	35.8 bp −$17.9K

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	−0.0226%	1h	0.2102	+0.203%	$371K	$372K	5x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2098	+0.002%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0056%	4h	0.2095	−0.131%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	−0.088%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	−0.012%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.199%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2108	+0.474%	$8K	$266K	10x	as long as short
dYdX ENA-USD	+0.0076%	1h	0.2102	+0.180%	$139K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	+0.036%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2100	+0.071%	$47K	$110	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	0.2098	long leg	$659K	$1.7M	10x
Hyperliquid ENA	+0.0100%	1h	0.2101	+0.112%	$112.1M	$72.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2100	+0.101%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2101	+0.120%	$409K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	+0.005%	$128.2M	$414.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2096	−0.117%	$85.6M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2096	−0.088%	$20.7M	$101.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2106	+0.369%	$19K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2098	−0.012%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.417%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2098	−0.026%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	+0.012%	$45.4M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.093%	$24.5M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	−0.179%	$47.6M	$57.2M	75x	as long as short
BingX ENA-USDTshort	+0.0100%	4h	0.2098	−0.007%	—	$32.2M	—
Variational Omni ENA	+0.0100%	4h	0.2119	+1.008%	$3.3M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2105	+0.307%	$242K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2104	+0.294%	$353K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2104	+0.274%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.055%	$181K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.376%	$934	$841K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.107%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.136%	$272K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	−0.155%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2095	−0.134%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	−0.083%	$73K	$4K	3x	as long as short
Lighter ENA	+0.0112%	1h	0.2098	−0.012%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0245%	1h	0.2098	−0.024%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2098	−0.010%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2098	−0.026%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	+0.010%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2112	+0.646%	$860K	$1.5M	50x	as long as short