Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: edgeX against Nado−0.176%7-day average +0.007% · 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−$56as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 3 days (all we have)−0.165%−$16 · spread now −0.176%, 7d avg +0.007%

Together, before fees−0.184%+ Points / potential airdropNado: Active · edgeX: Active · farm board−$18 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: edgeX is 0.183% cheaper against Nado than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2096	0.0100	pay 0.0012% / 1h	33m 21s	$658K	$1.8M	10x
Short	edgeX ENAUSDC	0.2092	0.0100	get 0.0050% / 4h	1h 33m	$248K	$7.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → +0.007%: −$18.26
Slippage, 4 orders: −$21.86
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$56.12
Costs to cover: 0.379%
Break-even: 1119466302710378.6 days

Slippage from Nado: live order book, just now; edgeX: live order book, 1 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, just now	0.48 bp	7.0 bp −$7	22.5 bp −$225	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	7.16 bp	11.7 bp −$12	13.2 bp −$132	44.5 bp −$4,451	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	−0.0084%	1h	0.2096	+0.024%	$362K	$481K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0063%	4h	0.2093	−0.110%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	−0.033%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	−0.029%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.327%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2096	+0.016%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2095	−0.029%	$61K	$535K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	+0.026%	$47K	$221	10x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2096	long leg	$658K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2095	−0.021%	$1.5M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2096	+0.038%	$406K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	−0.061%	$129.0M	$457.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.095%	$87.1M	$191.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	−0.095%	$20.2M	$112.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2094	−0.067%	$15K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.067%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.107%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2094	−0.052%	$10.4M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.057%	$45.1M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2097	+0.052%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	−0.081%	$47.4M	$65.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2094	−0.052%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	−0.229%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2092	−0.176%	$248K	$7.8M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	−0.132%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.124%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2095	−0.019%	$188K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.739%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	−0.029%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.038%	$273K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	−0.076%	$1.9M	$9.2M	50x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2097	+0.057%	$4K	$432	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	−0.070%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2095	−0.048%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0230% / S −0.0387%	1h	0.2094	−0.060%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2095	−0.011%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.138%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.059%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2099	+0.167%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0567%	1h	0.2098	+0.119%	$110.8M	$79.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	+0.048%	$806K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1904%	1h	0.2095	−0.021%	$138K	$15K	5x	as long as short