Funding you earn now, next payment 04:00 UTC−0.0290%/8h= −31.8% APRnext payment −$0.36 per $10,000 · paid last 24h −0.041%
Price spread now: Backpack against Nado+0.078%7-day average +0.009% · 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−$28as in the Price arb table
costs, in and out, $10k−$340.344% of the position
Funding, last 3 days (all we have)+0.060%+$6 on $10k
+Price spread, last 4 days (all we have)−0.721%−$72 · spread now +0.078%, 7d avg +0.009%
=Together, before fees−0.661%+ Points / potential airdropNado: Active · farm board−$66 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.069% dearer against Nado than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of +0.009%): +$7 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 19 hours. Mind the row above: over the last 3 days funding on this pair paid +0.060%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.060% in total (about 6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado ENA-PERP | 0.2119 | 0.0100 | pay 0.0012% / 1h | 23m 59s | $653K | $1.7M | 10x |
| Short | Backpack ENA_USDC_PERP | 0.2121 | −0.0190 | pay 0.0024% / 1h | 23m 59s | $366K | $396K | 5x |
Nado ENA-PERP
Backpack ENA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Nado. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$60.94
- Price spread: +0.078% → +0.009%
- $6.91
- Slippage, 4 orders
- −$17.45
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$88.48
- Costs to cover
- 0.344%
- Break-even
- never at this rate
Slippage from Nado: live order book, 5 min ago; Backpack: live order book, 35 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 Nado live order book, 5 min ago | 2.37 bp | 8.7 bp −$9 | 24.2 bp −$242 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 35 min ago | 0.95 bp | 9.8 bp −$10 | 52.3 bp −$523 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack ENA_USDC_PERPshort | −0.0190% | 1h | 0.2121 | +0.078% | $366K | $396K | 5x | |
| 01 Exchange ENAUSD | −0.0080% | 1h | 0.2121 | +0.073% | $4K | $302 | 10x | as long as short |
| Orderly PERP_ENA_USDC | −0.0068% | 4h | 0.2120 | +0.050% | $44K | $25K | 10x | as long as short |
| Deribit ENA_USDC-PERPETUAL | 0.0000% | 1h | 0.2121 | +0.068% | $79K | $1.1M | 50x | as long as short |
| gTrade (Gains Network) ENA/USD | L +0.0004% / S −0.0004% | 1h | 0.2122 | +0.109% | $82K | — | 150x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | +0.186% | $522 | $57K | 5.5x | as long as short |
| Phoenix ENA | +0.0076% | 1h | 0.2119 | −0.045% | $8K | $266K | 10x | as long as short |
| Lighter ENA | +0.0096% | 1h | 0.2123 | +0.153% | $5.2M | $13.5M | 10x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2120 | +0.026% | $56K | $477K | 50x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2117 | −0.137% | $47K | $110 | 10x | as long as short |
01 Exchange ENAUSD
Orderly PERP_ENA_USDC
Deribit ENA_USDC-PERPETUAL
gTrade (Gains Network) ENA/USD
Injective ENA/USDC PERP
Phoenix ENA
Lighter ENA
Popdex ENAUSDT
Paradex ENA-USD-PERPShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado ENA-PERPlong | +0.0100% | 1h | 0.2119 | long leg | $653K | $1.7M | 10x | |
| Hyperliquid ENA | +0.0100% | 1h | 0.2124 | +0.201% | $115.7M | $75.0M | 10x | as long as short |
| Aster ENAUSDT | +0.0100% | 4h | 0.2121 | +0.078% | $1.5M | $2.9M | 50x | as long as short |
| Pacifica ENA | +0.0100% | 1h | 0.2117 | −0.094% | $405K | $516K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2119 | −0.041% | $129.0M | $416.7M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2117 | −0.111% | $85.5M | $175.4M | 50x | as long as short |
| OKX ENA-USDT-SWAP | +0.0100% | 4h | 0.2117 | −0.097% | $20.9M | $103.6M | 50x | as long as short |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2115 | −0.186% | $18K | $316K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2121 | +0.073% | $79K | $276K | 10x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2117 | −0.139% | $93K | $4K | 10x | as long as short |
| Gate ENA_USDT | +0.0100% | 4h | 0.2120 | +0.026% | $11.1M | $22.1M | 50x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2121 | +0.054% | $46.3M | $41.5M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2122 | +0.111% | $24.7M | $15.6M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2116 | −0.182% | $48.1M | $57.5M | 75x | as long as short |
| BingX ENA-USDC | +0.0100% | 4h | 0.2120 | +0.021% | — | $6.5M | — | as long as short |
| Variational Omni ENA | +0.0100% | 4h | 0.2116 | −0.146% | $3.0M | $10.0M | — | as long as short |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2116 | −0.177% | $243K | $6.9M | 20x | as long as short |
| GRVT ENA_USDT_Perp | +0.0100% | 4h | 0.2114 | −0.238% | $350K | $5.0M | 10x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2117 | −0.116% | $20K | $647K | 50x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2121 | +0.092% | $183K | $2.3M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2067 | −2.470% | $1K | $848K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2121 | +0.073% | $4K | $7K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2121 | +0.068% | $274K | $790K | 50x | as long as short |
| Phemex ENAUSDT | +0.0100% | 4h | 0.2120 | +0.026% | $1.8M | $8.8M | 50x | as long as short |
| dYdX ENA-USD | +0.0103% | 1h | 0.2115 | −0.198% | $140K | $15K | 5x | as long as short |
| Extended ENA-USD | +0.0104% | 1h | 0.2120 | +0.009% | $1.6M | $4.1M | 50x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2122 | +0.104% | $74K | $4K | 3x | as long as short |
| Kraken Futures PF_ENAUSD | +0.0242% | 1h | 0.2122 | +0.121% | $2.6M | $4.3M | 50x | as long as short |
| GMX ENA/USD [ETH-USDC] | L +0.0254% / S −0.0213% | 1h | 0.2121 | +0.091% | $51K | — | 100x | as long as short |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2118 | −0.083% | $5.5M | $3.0M | 75x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2121 | +0.056% | $1K | $5K | 15x | as long as short |
| Coinbase International ENA-PERP-INTX | +0.0632% | 1h | 0.2121 | +0.092% | $867K | $1.7M | 50x | as long as short |
Hyperliquid ENA
Aster ENAUSDT
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDT
OKX ENA-USDT-SWAP
Ondo Perps ENA-USD.P
Arcus ENA-USD
Bulk ENA-USD
Gate ENA_USDT
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDC
Variational Omni ENA
edgeX ENAUSDC
GRVT ENA_USDT_Perp
ApeX Omni ENAUSDT
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Phemex ENAUSDT
dYdX ENA-USD
Extended ENA-USD
Aevo ENA-PERP
Kraken Futures PF_ENAUSD
GMX ENA/USD [ETH-USDC]
BloFin ENA-USDT
Reya ENARUSDPERP
Coinbase International ENA-PERP-INTX