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% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against SoDEX+0.119%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.119% dearer against SoDEX than usual: you sell high and buy low, +$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ENA-USD	0.2146	0.0100	pay 0.0013% / 1h	51m 35s	$4K	$7K	10x
Short	Nado ENA-PERP	0.2149	0.0100	get 0.0012% / 1h	51m 35s	$569K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SoDEX. 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 SoDEXbpFee NadobpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → 0.000%: $11.88
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$3.12
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Nado: live order book, 2 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Nado live order book, 2 min ago	0.93 bp	7.5 bp −$8	19.0 bp −$190	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0139%	4h	0.2146	−0.019%	$45K	$26K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2142	−0.168%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2146	+0.005%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2147	+0.027%	$83K	—	150x	as long as short
dYdX ENA-USD	+0.0010%	1h	0.2143	−0.140%	$142K	$16K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.053%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2144	−0.093%	$57K	$484K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2149	+0.119%	$569K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2143	−0.141%	$115.7M	$76.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2144	−0.097%	$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	0.2142	−0.177%	$402K	$532K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2144	−0.097%	$129.8M	$428.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2146	+0.005%	$85.8M	$181.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2147	+0.033%	$21.5M	$109.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2142	−0.163%	$20K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2142	−0.186%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2148	+0.106%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2142	−0.182%	$12.3M	$25.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2142	−0.186%	$48.0M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2143	−0.154%	$24.8M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2145	−0.061%	$48.8M	$60.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2142	−0.186%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2170	+1.126%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.151%	$255K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2149	+0.124%	$357K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2149	+0.140%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2147	+0.061%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2095	−2.353%	$1K	$896K	20x	as long as short
SoDEX ENA-USDlong	+0.0100%	1h	0.2146	long leg	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2153	+0.340%	$270K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2146	0.000%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2142	−0.205%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2142	−0.167%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2146	−0.003%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2161	+0.694%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0112%	1h	0.2144	−0.112%	$5.1M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0309% / S −0.0753%	1h	0.2146	+0.005%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2152	+0.275%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2148	+0.089%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0439%	1h	0.2148	+0.073%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2153	+0.326%	$879K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0653%	1h	0.2143	−0.135%	$391K	$424K	5x	as long as short