Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against ApeX Omni−0.308%61s7-day average −0.029% · 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—prices read too far apart to compare

costs, in and out, $10k−$560.556% of the position

Long on ApeX Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.526%+$53 · spread now −0.308%, 7d avg −0.029%

Together, before fees+0.547%+ Points / potential airdropNado: Active · farm board+$55 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 0.279% cheaper against ApeX Omni than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2128	0.0100	pay 0.0013% / 1h	15m 49s	$19K	$645K	50x
Short	Nado ENA-PERP	0.2121	0.0100	get 0.0012% / 1h	15m 49s	$562K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against ApeX Omni. 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 ApeX OmnibpFee NadobpOrdersPrice spread, now −0.308%Rate

Funding earned: $0
Price spread: −0.308% → −0.029%: −$27.89
Slippage, 4 orders: −$38.59
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$83.47
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 27 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 ApeX Omni live order book, 27 min ago	7.01 bp	20.1 bp −$20	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	1.17 bp	6.8 bp −$7	18.1 bp −$181	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
Orderly PERP_ENA_USDC	−0.0109%	4h	0.2121	−0.315%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	−0.258%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2121	−0.307%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2123	−0.249%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.216%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.282%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	−0.304%	$47K	$110	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2121	−0.308%	$562K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2125	−0.132%	$115.2M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	−0.230%	$1.4M	$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	0.2123	−0.244%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2123	−0.249%	$128.5M	$427.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	−0.334%	$91.0M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	−0.235%	$21.3M	$108.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	−0.235%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2122	−0.282%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.006%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2123	−0.240%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	−0.258%	$37.9M	$43.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	−0.202%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	−0.348%	$48.1M	$60.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2123	−0.249%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.353%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2126	−0.113%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	−0.055%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2128	long leg	$19K	$645K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2122	−0.273%	$185K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.636%	$1K	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2123	−0.235%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2125	−0.146%	$266K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.329%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2121	−0.311%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.262%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2128	0.000%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0176%	1h	0.2124	−0.179%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USD	+0.0238%	1h	0.2122	−0.291%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2122	−0.288%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2123	−0.249%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0408%	1h	0.2123	−0.216%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2121	−0.345%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2123	−0.225%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.352%	$881K	$1.8M	50x	as long as short