Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: OKX against Nado−0.021%7-day average −0.028% · 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−$340.341% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.192%+$19 · spread now −0.021%, 7d avg −0.028%

Together, before fees+0.174%+ Points / potential airdropNado: Active · farm board+$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2143	0.0100	pay 0.0012% / 1h	20m 57s	$567K	$1.8M	10x
Short	OKX ENA-USDT-SWAP	0.2142	0.0100	get 0.0050% / 4h	3h 20m	$21.2M	$109.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.028%: $0.65
Slippage, 4 orders: −$17.06
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.41
Costs to cover: 0.341%
Break-even: 3432109691149305.5 days

Slippage from Nado: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	1.17 bp	6.3 bp −$6	19.0 bp −$190	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.23 bp	8.4 bp −$8	16.5 bp −$165	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
01 Exchange ENAUSD	−0.0120%	1h	0.2142	−0.068%	$4K	$169	10x	as long as short
Phemex ENAUSDT	−0.0107%	4h	0.2144	+0.049%	$1.9M	$8.9M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0102%	4h	0.2144	+0.054%	$45K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2145	+0.114%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2142	−0.044%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−0.982%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0074%	4h	0.2141	−0.091%	$48.5M	$60.8M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2148	+0.217%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2140	−0.138%	$55K	$497K	50x	as long as short
dYdX ENA-USD	+0.0097%	1h	0.2142	−0.061%	$142K	$16K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0099%	8h	0.2141	−0.077%	$48K	$110	10x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2143	long leg	$567K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2147	+0.189%	$116.9M	$76.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2144	+0.053%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2140	−0.124%	$411K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2144	+0.026%	$129.3M	$429.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2143	+0.012%	$89.1M	$193.6M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2142	−0.021%	$21.2M	$109.2M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2120	−1.057%	$39K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2141	−0.091%	$78K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2113	−1.419%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2146	+0.128%	$13.5M	$27.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2146	+0.142%	$41.8M	$43.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2147	+0.194%	$25.2M	$16.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2145	+0.082%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2147	+0.166%	$415K	$479K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2114	−1.331%	$3.0M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2134	−0.412%	$249K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2138	−0.235%	$359K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2139	−0.184%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2141	−0.091%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2095	−2.238%	$1K	$929K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2146	+0.142%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.180%	$267K	$842K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2145	+0.090%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2145	+0.081%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2139	−0.194%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0194%	1h	0.2146	+0.146%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2146	+0.133%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2145	+0.114%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2142	−0.033%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2152	+0.427%	$799K	$2.0M	50x	as long as short