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 ApeX Omni−0.106%7-day average −0.029% · 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−$64as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on ApeX Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.324%+$32 · spread now −0.106%, 7d avg −0.029%

Together, before fees+0.345%+ Points / potential airdropNado: Active · farm board+$34 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: Nado is 0.077% cheaper against ApeX Omni than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ENAUSDT	0.2124	0.0100	pay 0.0013% / 1h	13m 03s	$19K	$646K	50x
Short	Nado ENA-PERP	0.2122	0.0100	get 0.0012% / 1h	13m 03s	$563K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against ApeX Omni. 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 ApeX OmnibpFee NadobpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → −0.029%: −$7.7
Slippage, 4 orders: −$38.81
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$63.51
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 30 min ago; Nado: live order book, 1 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 ApeX Omni live order book, 30 min ago	7.01 bp	20.1 bp −$20	133.8 bp −$1,338	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	1.41 bp	7.3 bp −$7	18.9 bp −$189	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
Orderly PERP_ENA_USDC	−0.0105%	4h	0.2120	−0.179%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	−0.137%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2121	−0.161%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2123	−0.033%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.028%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.094%	$55K	$484K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	−0.070%	$48K	$110	10x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2122	−0.106%	$563K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2124	+0.005%	$115.0M	$76.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	−0.042%	$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	0.2123	−0.042%	$402K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2122	−0.104%	$128.5M	$427.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2120	−0.174%	$90.9M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	−0.089%	$21.3M	$108.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	−0.047%	$33K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2122	−0.094%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2128	+0.195%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	−0.118%	$12.5M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	−0.108%	$37.9M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	−0.094%	$24.8M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−0.217%	$48.0M	$59.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2121	−0.137%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.166%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2122	−0.077%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	0.000%	$355K	$5.1M	10x	as long as short
ApeX Omni ENAUSDTlong	+0.0100%	1h	0.2124	long leg	$19K	$646K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	−0.066%	$185K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.444%	$1K	$903K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.141%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	−0.052%	$266K	$820K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.141%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−0.165%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2121	−0.127%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2125	+0.066%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0184%	1h	0.2123	−0.033%	$5.0M	$13.6M	10x	as long as short
dYdX ENA-USD	+0.0227%	1h	0.2124	−0.021%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2121	−0.158%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−0.104%	$5.6M	$3.2M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0366%	1h	0.2123	−0.061%	$394K	$437K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.248%	$1K	$3K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0445%	1h	0.2122	−0.106%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.541%	$881K	$1.8M	50x	as long as short