Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Nado−0.203%7-day average +0.075% · 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−$67as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.190%+$19 on $10k

Price spread, last 4 days (all we have)+0.898%+$90 · spread now −0.203%, 7d avg +0.075%

Together, before fees+1.088%+ Points / potential airdropNado: Active · farm board+$109 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.278% cheaper against Nado than usual: you would sell low and buy high (spread −0.203% now, against its 7-day average of +0.075%). If the spread goes back, that is −$28 on $10k: about 3.9 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2097	0.0100	pay 0.0012% / 1h	45m 46s	$658K	$1.6M	10x
Short	BloFin ENA-USDT	0.2093	0.0340	get 0.0170% / 4h	45m 46s	$5.6M	$3.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.203%Rate

Funding earned: $50.4
Price spread: −0.203% → +0.075%: −$27.81
Slippage, 4 orders: −$20.04
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$16.45
Costs to cover: 0.390%
Break-even: 9.3 days

Slippage from Nado: live order book, 3 min ago; BloFin: 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, 3 min ago	1.67 bp	5.3 bp −$5	17.7 bp −$177	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.72 bp	13.3 bp −$13	27.3 bp −$273	75.5 bp −$7,546	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	−0.0300%	1h	0.2097	−0.041%	$366K	$388K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2097	−0.007%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0060%	4h	0.2098	+0.045%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2099	+0.050%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2097	−0.004%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.237%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	−0.164%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2096	−0.060%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.021%	$55K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.022%	$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	0.2097	long leg	$658K	$1.6M	10x
Hyperliquid ENA	+0.0100%	1h	0.2095	−0.107%	$111.5M	$73.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	−0.058%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	+0.002%	$409K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	−0.150%	$127.8M	$415.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.184%	$85.0M	$176.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	−0.169%	$20.7M	$101.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.403%	$20K	$321K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.212%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.455%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	−0.117%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2096	−0.069%	$45.4M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	−0.031%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.250%	$47.7M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2095	−0.122%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.002%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2088	−0.443%	$240K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2088	−0.451%	$346K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2088	−0.451%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.002%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2047	−2.386%	$1K	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2098	+0.026%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2099	+0.064%	$271K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	−0.069%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2095	−0.108%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	+0.015%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0167%	1h	0.2096	−0.070%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2099	+0.084%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2097	−0.001%	$51K	—	100x	as long as short
BloFin ENA-USDTshort	+0.0340%	4h	0.2093	−0.203%	$5.6M	$3.0M	75x
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.038%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	−0.350%	$851K	$1.5M	50x	as long as short