Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: MEXC against Nado+0.480%7-day average −0.027% · 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+$30as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Nado Short on MEXC

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 4 days (all we have)−1.777%−$178 · spread now +0.480%, 7d avg −0.027%

Together, before fees−1.795%+ Points / potential airdropNado: Active · farm board−$180 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: MEXC is 0.506% dearer against Nado than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2094	0.0100	pay 0.0012% / 1h	40m 10s	$669K	$1.8M	10x
Short	MEXC ENA_USDT	0.2104	0.0100	get 0.0050% / 4h	2h 40m	$44.8M	$43.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.480%Rate

Funding earned: $0
Price spread: +0.480% → −0.027%: $50.65
Slippage, 4 orders: −$13.66
Fee Nado: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $29.99
Costs to cover: 0.207%
Break-even: from the start

Slippage from Nado: live order book, 4 min ago; MEXC: 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 Nado live order book, 4 min ago	1.66 bp	6.6 bp −$7	18.6 bp −$186	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.24 bp	2.6 bp −$3	9.9 bp −$99	45.9 bp −$4,589	73.0 bp −$36.5K

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2103	+0.418%	$78K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2097	+0.146%	$105K	—	150x	as long as short
dYdX ENA-USD	+0.0027%	1h	0.2095	+0.033%	$138K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.406%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0035%	1h	0.2104	+0.470%	$364K	$383K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2097	+0.155%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0048%	1h	0.2097	+0.122%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	+0.002%	$52K	$524K	50x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2094	long leg	$669K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2097	+0.159%	$1.5M	$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	0.2095	+0.064%	$411K	$548K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	+0.454%	$130.9M	$445.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2102	+0.404%	$85.7M	$187.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2102	+0.394%	$20.9M	$108.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2097	+0.146%	$16K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	+0.146%	$114K	$259K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	+0.141%	$10.8M	$21.1M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2104	+0.480%	$44.8M	$43.9M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	+0.509%	$24.3M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2101	+0.351%	$47.9M	$61.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2098	+0.198%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2102	+0.405%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	+0.838%	$242K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.670%	$357K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.814%	$32K	$691K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.079%	$177K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.070%	$1K	$846K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	+0.384%	$3K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.800%	$273K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2104	+0.480%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+1.090%	$93K	$4K	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2095	+0.057%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2097	+0.164%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2105	+0.509%	$7K	$351K	10x	as long as short
Lighter ENA	+0.0224%	1h	0.2106	+0.580%	$5.5M	$13.6M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0206%	1h	0.2097	+0.149%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0253%	1h	0.2105	+0.552%	$2.6M	$4.9M	50x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2101	+0.343%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	+1.836%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	+0.114%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0433%	1h	0.2096	+0.112%	$112.9M	$74.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2097	+0.165%	$822K	$1.7M	50x	as long as short