Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.066%

Price spread now: Nado against BloFin−0.033%7-day average −0.085% · 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−$33as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.178%−$18 on $10k

Price spread, last 3 days (all we have)−0.312%−$31 · spread now −0.033%, 7d avg −0.085%

Together, before fees−0.490%+ Points / potential airdropNado: Active · farm board−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.052% dearer against BloFin than usual: you sell high and buy low (spread −0.033% now, against its 7-day average of −0.085%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2125	0.0340	pay 0.0170% / 4h	42m 15s	$5.6M	$7.0M	75x
Short	Nado ENA-PERP	0.2124	0.0100	get 0.0012% / 1h	42m 15s	$683K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now −0.033%Rate

Funding earned: −$50.4
Price spread: −0.033% → −0.085%: $5.23
Slippage, 4 orders: −$18.77
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$82.94
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Nado: 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 BloFin live order book, 6 min ago	2.12 bp	13.7 bp −$14	21.5 bp −$215	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.94 bp	7.5 bp −$7	20.3 bp −$203	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	−0.0025%	4h	0.2124	−0.047%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.014%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.046%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.056%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0094%	1h	0.2126	+0.080%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2123	−0.075%	$63K	$523K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2124	−0.033%	$683K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2124	−0.016%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.036%	$411K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.029%	$131.3M	$454.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2124	−0.033%	$89.1M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	−0.019%	$20.5M	$112.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2126	+0.047%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.019%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.041%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.047%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	−0.099%	$46.9M	$45.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	−0.033%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.061%	$48.1M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2122	−0.108%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	+0.046%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.035%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	+0.025%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.066%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	−0.080%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.504%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	−0.028%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.522%	$278K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.028%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	−0.030%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	+0.008%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.212%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	−0.033%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2125	+0.014%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	−0.070%	$38K	—	100x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2125	long leg	$5.6M	$7.0M	75x
Extended ENA-USD	+0.0344%	1h	0.2123	−0.053%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−0.114%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.466%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0608%	1h	0.2127	+0.108%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0852%	1h	0.2127	+0.104%	$114.3M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1749%	1h	0.2127	+0.094%	$140K	$15K	5x	as long as short