Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Nado against Arcus−0.221%7-day average −0.015% · 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−$60as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Arcus 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 3 days (all we have)+0.431%+$43 · spread now −0.221%, 7d avg −0.015%

Together, before fees+0.452%+ Points / potential airdropNado: Active · farm board+$45 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 0.207% cheaper against Arcus than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2147	0.0100	pay 0.0013% / 1h	28m 05s	$106K	$242K	10x
Short	Nado ENA-PERP	0.2142	0.0100	get 0.0012% / 1h	28m 05s	$711K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Arcus. 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 ArcusbpFee NadobpOrdersPrice spread, now −0.221%Rate

Funding earned: $0
Price spread: −0.221% → −0.015%: −$20.66
Slippage, 4 orders: −$27.93
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$60.08
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Arcus: live order book, 45 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 Arcus live order book, 45 min ago	7.04 bp	10.0 bp −$10	21.2 bp −$212	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	1.17 bp	5.5 bp −$6	24.3 bp −$243	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	−0.293%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2141	−0.299%	$98K	—	150x	as long as short
dYdX ENA-USD	+0.0025%	1h	0.2144	−0.148%	$142K	$15K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2140	−0.335%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.099%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0058%	1h	0.2140	−0.326%	$380K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	−0.233%	$63K	$520K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2142	−0.221%	$711K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2143	−0.182%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2145	−0.102%	$421K	$549K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2140	−0.331%	$132.8M	$444.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2139	−0.387%	$88.4M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2139	−0.377%	$21.0M	$110.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2141	−0.298%	$15K	$409K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2147	long leg	$106K	$242K	10x
Bulk ENA-USD	+0.0100%	1h	0.2143	−0.186%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2139	−0.387%	$10.9M	$20.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2139	−0.368%	$46.0M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2139	−0.354%	$24.6M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2138	−0.405%	$48.5M	$61.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2140	−0.349%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	−1.103%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	−1.135%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−1.088%	$357K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	−1.444%	$34K	$687K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2143	−0.177%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2089	−2.706%	$1K	$830K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	−0.373%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2142	−0.238%	$278K	$1.2M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2139	−0.373%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	−0.060%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	−0.326%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2116	−1.453%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2143	−0.186%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2140	−0.320%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2139	−0.394%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0332% / S −0.0206%	1h	0.2140	−0.308%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	−0.275%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	−0.334%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	−0.168%	$848K	$1.8M	50x	as long as short
Lighter ENA	+0.0712%	1h	0.2142	−0.238%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0739%	1h	0.2143	−0.172%	$115.6M	$75.4M	10x	as long as short