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 +0.003%

Price spread now: Nado against Bybit+0.038%7-day average +0.046% · 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−$32as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days−0.116%−$12 · spread now +0.038%, 7d avg +0.046%

Together, before fees−0.094%+ Points / potential airdropNado: Active · farm board−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2123	0.0100	pay 0.0050% / 4h	1h 14m	$91.0M	$187.5M	50x
Short	Nado ENA-PERP	0.2123	0.0100	get 0.0012% / 1h	14m 10s	$563K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → +0.046%: −$0.8
Slippage, 4 orders: −$13.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$31.93
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Nado: live order book, 4 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 Bybit live order book, 5 min ago	0.23 bp	6.1 bp −$6	14.8 bp −$148	51.0 bp −$5,097	doesn't fit
Sell Nado live order book, 4 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	−0.0107%	4h	0.2124	+0.042%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.090%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2124	+0.066%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2125	+0.127%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.033%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	+0.061%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	+0.041%	$48K	$110	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2123	+0.038%	$563K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2127	+0.184%	$115.3M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.093%	$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	0.2124	+0.072%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	+0.072%	$128.6M	$427.8M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2123	long leg	$91.0M	$187.5M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	+0.080%	$21.3M	$108.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.014%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2124	+0.061%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.256%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	+0.080%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	+0.066%	$37.9M	$43.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2125	+0.094%	$24.9M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.028%	$48.1M	$59.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	+0.042%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.105%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	+0.012%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.194%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	−0.033%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	+0.085%	$185K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.308%	$1K	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.061%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.160%	$267K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2124	+0.061%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2123	−0.005%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	+0.085%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2128	+0.250%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0184%	1h	0.2125	+0.118%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USD	+0.0232%	1h	0.2124	+0.040%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2123	+0.004%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	+0.057%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0381%	1h	0.2125	+0.108%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	+0.002%	$1K	$4K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2125	+0.115%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.603%	$881K	$1.8M	50x	as long as short