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% APRpaid last 24h +0.001%

Price spread now: Nado against KuCoin−0.161%7-day average +0.003% · 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−$65as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.330%+$33 · spread now −0.161%, 7d avg +0.003%

Together, before fees+0.347%+ Points / potential airdropNado: Active · farm board+$35 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 0.164% cheaper against KuCoin than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2145	0.0100	pay 0.0050% / 4h	3h 24m	$24.7M	$16.5M	75x
Short	Nado ENA-PERP	0.2142	0.0100	get 0.0012% / 1h	24m 34s	$710K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against KuCoin. 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 KuCoinbpFee NadobpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → +0.003%: −$16.4
Slippage, 4 orders: −$29.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$65.27
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Nado: live order book, 4 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 KuCoin live order book, 4 min ago	3.03 bp	11.5 bp −$12	24.5 bp −$245	doesn't fit	doesn't fit
Sell Nado live order book, 4 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	0.2155	+0.480%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2155	+0.446%	$98K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.007%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2154	+0.429%	$42K	$23K	10x	as long as short
dYdX ENA-USD	+0.0041%	1h	0.2146	+0.065%	$142K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0095%	1h	0.2155	+0.448%	$383K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	−0.140%	$63K	$519K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2142	−0.161%	$710K	$1.8M	10x
Aster ENAUSDT	+0.0100%	4h	0.2146	+0.058%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2143	−0.103%	$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	0.2143	−0.107%	$133.1M	$444.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2143	−0.107%	$88.4M	$187.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2143	−0.084%	$21.0M	$110.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2150	+0.256%	$15K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2144	−0.047%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	−0.093%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2143	−0.112%	$10.9M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2142	−0.149%	$45.8M	$44.6M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2145	long leg	$24.7M	$16.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2141	−0.172%	$48.6M	$61.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2143	−0.103%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2155	+0.466%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2143	−0.093%	$251K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	0.000%	$355K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	+0.047%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2154	+0.438%	$186K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2104	−1.921%	$1K	$831K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2155	+0.466%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2161	+0.737%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2153	+0.373%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2142	−0.144%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2155	+0.466%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2144	−0.070%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2143	−0.079%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0232%	1h	0.2157	+0.537%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2143	−0.106%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0333% / S −0.0430%	1h	0.2154	+0.435%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2155	+0.490%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2154	+0.413%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	−0.075%	$848K	$1.8M	50x	as long as short
Hyperliquid ENA	+0.0748%	1h	0.2149	+0.186%	$115.9M	$73.9M	10x	as long as short
Lighter ENA	+0.0752%	1h	0.2145	−0.023%	$5.7M	$12.6M	10x	as long as short