Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.007%

Price spread now: Nado against Gate+0.074%7-day average +0.047% · 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−$47as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 3 days (all we have)+0.304%+$30 · spread now +0.074%, 7d avg +0.047%

Together, before fees+0.328%+ Points / potential airdropNado: Active · farm board+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.027% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2088	0.0078	pay 0.0039% / 4h	2h 07m	$10.4M	$21.8M	50x
Short	Nado ENA-PERP	0.2089	0.0100	get 0.0012% / 1h	7m 47s	$655K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Gate. 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 GatebpFee NadobpOrdersPrice spread, now +0.074%Rate

Funding earned: $4.62
Price spread: +0.074% → +0.047%: $2.72
Slippage, 4 orders: −$27.86
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$42.52
Costs to cover: 0.499%
Break-even: 71.4 days

Slippage from Gate: live order book, 1 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 Gate live order book, 1 min ago	5.27 bp	16.1 bp −$16	34.2 bp −$342	58.6 bp −$5,857	95.2 bp −$47.6K
Sell Nado live order book, 1 min ago	0.24 bp	7.5 bp −$7	18.0 bp −$180	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
Backpack ENA_USDC_PERP	−0.0284%	1h	0.2088	+0.014%	$360K	$483K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0080%	4h	0.2087	−0.038%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2088	+0.034%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2088	+0.024%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2088	+0.023%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.715%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.331%	$5K	$394K	10x	as long as short
Gate ENA_USDTlong	+0.0078%	4h	0.2088	long leg	$10.4M	$21.8M	50x
Popdex ENAUSDT	+0.0096%	1h	0.2087	−0.029%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	+0.062%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERPshort	+0.0100%	1h	0.2089	+0.074%	$655K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2088	+0.018%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2090	+0.098%	$404K	$592K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	+0.028%	$128.5M	$465.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2087	−0.024%	$86.9M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2089	+0.057%	$20.1M	$113.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2088	+0.014%	$19K	$417K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	+0.163%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	−0.036%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2088	0.000%	$45.4M	$49.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2088	+0.019%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2087	−0.048%	$47.2M	$65.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2088	+0.005%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	−0.101%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2087	−0.039%	$248K	$7.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2087	−0.050%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2088	+0.019%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	+0.034%	$182K	$2.9M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.342%	$1K	$811K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2087	−0.029%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.278%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2087	−0.029%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2088	+0.018%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2089	+0.073%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2087	−0.047%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0215% / S −0.0164%	1h	0.2087	−0.007%	$50K	—	100x	as long as short
Lighter ENA	+0.0304%	1h	0.2090	+0.134%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2091	+0.139%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0346%	1h	0.2090	+0.100%	$110.1M	$80.1M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2087	−0.023%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2090	+0.096%	$800K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5218%	1h	0.2091	+0.140%	$138K	$15K	5x	as long as short