Funding arb · Price arb /

ENA

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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: BingX against Nado−0.077%158s7-day average −0.035% · 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−$360.357% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.115%+$12 · spread now −0.077%, 7d avg −0.035%

Together, before fees+0.097%+ Points / potential airdropNado: Active · farm board+$10 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: BingX is 0.042% cheaper against Nado than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.035%. The two prices were read 158 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	Nado ENA-PERP	0.2145	0.0100	pay 0.0012% / 1h	48m 51s	$568K	$1.8M	10x
Short	BingX ENA-USDC	0.2143	0.0100	get 0.0050% / 4h	1h 48m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Nado. 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 NadobpFee BingXbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → −0.035%: −$4.18
Slippage, 4 orders: −$18.65
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$39.83
Costs to cover: 0.357%
Break-even: 794596902888832.8 days

Slippage from Nado: live order book, 5 min ago; BingX: 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 Nado live order book, 5 min ago	0.93 bp	7.2 bp −$7	16.1 bp −$161	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	0.70 bp	12.8 bp −$13	25.9 bp −$259	71.1 bp −$7,108	469.9 bp −$235.0K

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	−0.0137%	4h	0.2141	−0.184%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2143	−0.100%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2142	−0.128%	$66K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2142	−0.133%	$82K	—	150x	as long as short
dYdX ENA-USD	+0.0010%	1h	0.2142	−0.116%	$142K	$16K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.000%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	−0.133%	$57K	$481K	50x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2145	long leg	$568K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2144	−0.021%	$115.7M	$76.5M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2144	−0.040%	$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	0.2143	−0.087%	$405K	$540K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2144	−0.053%	$129.4M	$428.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2143	−0.105%	$85.7M	$181.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2143	−0.091%	$21.5M	$109.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2142	−0.110%	$20K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2141	−0.179%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2148	+0.159%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2143	−0.082%	$12.3M	$25.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2144	−0.049%	$48.5M	$42.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2144	−0.026%	$24.8M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2141	−0.166%	$48.7M	$60.1M	75x	as long as short
BingX ENA-USDCshort	+0.0100%	4h	0.2143	−0.077%	—	$6.5M	—
Variational Omni ENA	+0.0100%	4h	0.2149	+0.207%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.205%	$255K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2148	+0.147%	$355K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2149	+0.193%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2141	−0.179%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2090	−2.539%	$1K	$898K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2142	−0.133%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2145	+0.021%	$268K	$824K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2142	−0.133%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2142	−0.142%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2143	−0.087%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2142	−0.156%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2147	+0.105%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0168%	1h	0.2144	−0.035%	$5.1M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2141	−0.159%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2142	−0.124%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2141	−0.198%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0440%	1h	0.2143	−0.073%	$2.6M	$4.3M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0614%	1h	0.2145	+0.002%	$392K	$432K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2146	+0.049%	$876K	$1.8M	50x	as long as short