Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Nado against OKX−0.068%7-day average +0.033% · 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−$59as in the Price arb table

costs, in and out, $10k−$480.485% of the position

Long on OKX Short on Nado

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 4 days (all we have)+1.414%+$141 · spread now −0.068%, 7d avg +0.033%

Together, before fees+1.433%+ Points / potential airdropNado: Active · farm board+$143 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: Nado is 0.101% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2135	0.0100	pay 0.0050% / 4h	2h 26m	$21.0M	$108.9M	50x
Short	Nado ENA-PERP	0.2133	0.0100	get 0.0013% / 1h	26m 08s	$688K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → +0.033%: −$10.07
Slippage, 4 orders: −$31.45
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$58.53
Costs to cover: 0.485%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Nado: 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 OKX live order book, 3 min ago	0.93 bp	12.5 bp −$13	21.8 bp −$218	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	2.34 bp	14.0 bp −$14	31.1 bp −$311	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2135	+0.023%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2134	−0.023%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0015%	1h	0.2134	−0.010%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.520%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0038%	4h	0.2134	−0.023%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2135	+0.042%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2134	−0.023%	$56K	$521K	50x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2136	+0.070%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2135	+0.036%	$418K	$544K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2134	−0.019%	$132.1M	$444.9M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2134	−0.019%	$87.7M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2135	long leg	$21.0M	$108.9M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2138	+0.150%	$19K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2135	+0.023%	$116K	$251K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2135	0.000%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2134	−0.014%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2134	−0.042%	$45.5M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2135	+0.028%	$24.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2133	−0.052%	$48.6M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2134	−0.033%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2136	+0.075%	$382K	$394K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	−0.042%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.682%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	+0.502%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2144	+0.445%	$32K	$656K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2133	−0.068%	$688K	$1.8M	10x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2135	0.000%	$185K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2083	−2.394%	$1K	$853K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2136	+0.070%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.070%	$275K	$877K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2134	−0.023%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2133	−0.079%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2135	+0.007%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2147	+0.600%	$8K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2135	+0.042%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2137	+0.134%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2133	−0.063%	$51K	—	100x	as long as short
Lighter ENA	+0.0368%	1h	0.2139	+0.197%	$5.6M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2134	−0.030%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0515%	1h	0.2137	+0.126%	$115.7M	$73.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2140	+0.267%	$838K	$1.8M	50x	as long as short