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% APRpaid last 24h 0.000%

Price spread now: Nado against Binance+0.147%108s7-day average +0.013% · you sell dearer than you buy

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−$340.335% of the position

Long on Binance 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 7 days−0.221%−$22 · spread now +0.147%, 7d avg +0.013%

Together, before fees−0.201%+ Points / potential airdropNado: Active · farm board−$20 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 0.134% dearer against Binance than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 108 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	Binance ENAUSDT	0.2140	0.0100	pay 0.0050% / 4h	1h 46m	$129.2M	$428.1M	75x
Short	Nado ENA-PERP	0.2143	0.0100	get 0.0012% / 1h	46m 42s	$567K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now +0.147%Rate

Funding earned: $0
Price spread: +0.147% → +0.013%: $13.41
Slippage, 4 orders: −$16.5
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.09
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Nado: live order book, 2 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 Binance live order book, 12 min ago	0.23 bp	7.8 bp −$8	13.6 bp −$136	57.7 bp −$5,770	doesn't fit
Sell Nado live order book, 2 min ago	1.40 bp	8.2 bp −$8	20.1 bp −$201	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	−0.0136%	4h	0.2142	+0.098%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2144	+0.168%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2143	+0.159%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2141	+0.030%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.776%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0044%	1h	0.2142	+0.087%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2142	+0.107%	$5.1M	$13.3M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2141	+0.047%	$57K	$481K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2143	+0.147%	$567K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2142	+0.093%	$115.5M	$76.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2141	+0.040%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2141	+0.031%	$404K	$540K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2140	long leg	$129.2M	$428.1M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2140	+0.023%	$85.6M	$181.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2141	+0.047%	$21.4M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2140	0.000%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2139	−0.047%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2148	+0.386%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2141	+0.042%	$12.3M	$25.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2140	+0.014%	$48.3M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2141	+0.061%	$24.8M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2138	−0.075%	$48.6M	$60.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2141	+0.033%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2149	+0.434%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2142	+0.099%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2148	+0.374%	$355K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2142	+0.093%	$19K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2142	+0.089%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2089	−2.369%	$1K	$899K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2143	+0.140%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.313%	$269K	$824K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2143	+0.140%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2140	+0.019%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2140	−0.020%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2143	+0.124%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2147	+0.332%	$8K	$276K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2141	+0.054%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	+0.037%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2141	+0.040%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0440%	1h	0.2145	+0.221%	$2.6M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2152	+0.584%	$878K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0620%	1h	0.2144	+0.182%	$392K	$432K	5x	as long as short