Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.018%

Price spread now: Aster against Nado−0.051%58s7-day average +0.038% · 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−$360.360% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.101%+$10 on $10k

Price spread, last 7 days+0.289%+$29 · spread now −0.051%, 7d avg +0.038%

Together, before fees+0.390%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board+$39 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: Aster is 0.090% cheaper against Nado than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.038%. The two prices were read 58 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	0.2137	0.0100	pay 0.0012% / 1h	0m 34s	$566K	$1.8M	10x
Short	Aster ENAUSDT	0.2136	0.0100	get 0.0050% / 4h	3h 00m	$1.4M	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.038%: −$8.99
Slippage, 4 orders: −$20.98
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$44.97
Costs to cover: 0.360%
Break-even: 4620105102184124.0 days

Slippage from Nado: live order book, 3 min ago; Aster: live order book, 3 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, 3 min ago	1.64 bp	6.5 bp −$7	16.0 bp −$160	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	1.40 bp	10.6 bp −$11	20.1 bp −$201	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
Phemex ENAUSDT	−0.0158%	4h	0.2135	−0.098%	$1.9M	$9.0M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0108%	4h	0.2134	−0.131%	$44K	$15K	10x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2136	−0.070%	$4K	$169	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2135	−0.075%	$91K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2144	+0.304%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−0.711%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0038%	4h	0.2133	−0.187%	$48.1M	$59.9M	75x	as long as short
dYdX ENA-USD	+0.0093%	1h	0.2135	−0.083%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2136	−0.037%	$5.0M	$13.2M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2135	−0.098%	$55K	$486K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2134	−0.145%	$48K	$110	10x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2137	long leg	$566K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2137	+0.005%	$116.9M	$76.0M	10x	as long as short
Aster ENAUSDTshort	+0.0100%	4h	0.2136	−0.051%	$1.4M	$3.3M	50x
Pacifica ENA	+0.0100%	1h	0.2135	−0.095%	$408K	$549K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2136	−0.066%	$129.0M	$422.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2135	−0.075%	$87.4M	$191.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2135	−0.108%	$21.1M	$106.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2142	+0.253%	$39K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2136	−0.051%	$79K	$247K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2135	−0.075%	$13.5M	$28.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2135	−0.117%	$42.1M	$44.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2136	−0.042%	$25.1M	$15.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2135	−0.122%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2135	−0.080%	$413K	$476K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	−0.142%	$3.1M	$8.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2136	−0.029%	$252K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2135	−0.082%	$358K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2137	−0.005%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2138	+0.061%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2085	−2.433%	$1K	$921K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2135	−0.098%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2146	+0.426%	$265K	$813K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2133	−0.168%	$104K	$12K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2134	−0.133%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2135	−0.106%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2143	+0.295%	$14K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2136	−0.062%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2136	−0.065%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2135	−0.080%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2134	−0.126%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2145	+0.393%	$792K	$2.0M	50x	as long as short