Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Nado−0.133%59s7-day average +0.034% · 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—prices read too far apart to compare

costs, in and out, $10k−$440.444% of the position

Long on Nado Short on ApeX Omni

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)−0.334%−$33 · spread now −0.133%, 7d avg +0.034%

Together, before fees−0.354%+ 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: ApeX Omni is 0.167% cheaper against Nado than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.034%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2101	0.0100	pay 0.0012% / 1h	39m 40s	$662K	$1.7M	10x
Short	ApeX Omni ENAUSDT	0.2098	0.0100	get 0.0013% / 1h	39m 40s	$20K	$646K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Nado. 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 NadobpFee ApeX OmnibpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → +0.034%: −$16.75
Slippage, 4 orders: −$27.4
Fee Nado: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$61.15
Costs to cover: 0.444%
Break-even: 6282562087859683.0 days

Slippage from Nado: live order book, 4 min ago; ApeX Omni: live order book, 18 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 Nado live order book, 4 min ago	1.19 bp	5.9 bp −$6	16.8 bp −$168	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 18 min ago	7.12 bp	15.5 bp −$16	156.2 bp −$1,562	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	−0.0292%	1h	0.2098	−0.148%	$364K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2093	−0.381%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2098	−0.148%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.114%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	−0.111%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.076%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.205%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2097	−0.167%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.466%	$55K	$503K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2092	−0.405%	$47K	$110	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-PERPlong	+0.0100%	1h	0.2101	long leg	$662K	$1.7M	10x
Hyperliquid ENA	+0.0100%	1h	0.2099	−0.067%	$111.9M	$73.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2098	−0.115%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	−0.260%	$408K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.478%	$127.5M	$415.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.495%	$84.8M	$175.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	−0.443%	$20.7M	$101.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	+0.062%	$20K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2088	−0.609%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.143%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2093	−0.381%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.338%	$45.6M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	−0.133%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	−0.462%	$47.7M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2093	−0.390%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.192%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.181%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2098	−0.133%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2098	−0.133%	$20K	$646K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2102	+0.043%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.490%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	−0.181%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.190%	$272K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.181%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2092	−0.423%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.109%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0113%	1h	0.2094	−0.306%	$138K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2099	−0.079%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2099	−0.095%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	−0.052%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2100	−0.055%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2106	+0.252%	$858K	$1.5M	50x	as long as short