Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Nado+0.002%7-day average −0.011% · 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−$30as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.328%+$33 · spread now +0.002%, 7d avg −0.011%

Together, before fees+0.310%+ Points / potential airdropNado: Active · farm board+$31 on $10k · with fees, hour by hour

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	52m 11s	$585K	$1.7M	10x
Short	Binance ENAUSDT	0.2101	0.0100	get 0.0050% / 4h	1h 52m	$126.3M	$406.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → −0.011%: $1.31
Slippage, 4 orders: −$13.96
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$29.65
Costs to cover: 0.310%
Break-even: 591553564005574.1 days

Slippage from Nado: live order book, 5 min ago; Binance: live order book, 15 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, 5 min ago	0.71 bp	6.8 bp −$7	17.3 bp −$173	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.24 bp	8.0 bp −$8	13.0 bp −$130	50.0 bp −$4,997	doesn't fit

ENA on 42 exchanges

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
01 Exchange ENAUSD	−0.0192%	1h	0.2100	−0.074%	$4K	$60	10x	as long as short
Orderly PERP_ENA_USDC	−0.0180%	4h	0.2100	−0.055%	$44K	$14K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0133%	1h	0.2102	+0.041%	$2.6M	$3.8M	50x	as long as short
Bitget ENAUSDT	−0.0044%	4h	0.2100	−0.083%	$47.3M	$55.9M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2101	−0.007%	$104K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2102	+0.044%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+0.978%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2103	+0.083%	$4.9M	$12.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2101	−0.017%	$57K	$389K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2102	+0.035%	$47K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERPlong	+0.0100%	1h	0.2101	long leg	$585K	$1.7M	10x
Hyperliquid ENA	+0.0100%	1h	0.2101	−0.009%	$113.4M	$77.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2102	+0.031%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2102	+0.031%	$387K	$527K	10x	as long as short
Binance ENAUSDTshort	+0.0100%	4h	0.2101	+0.002%	$126.3M	$406.5M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.040%	$86.4M	$184.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	−0.007%	$20.8M	$99.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	+0.440%	$27K	$332K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2102	+0.031%	$78K	$235K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	+0.506%	$103K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2102	+0.026%	$13.7M	$26.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2101	−0.002%	$42.0M	$40.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2102	+0.045%	$24.9M	$15.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2101	−0.002%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	+0.412%	$3.0M	$8.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	+0.473%	$245K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2111	+0.459%	$357K	$4.4M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.459%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	−0.031%	$166K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.410%	$1K	$917K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2102	+0.031%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2106	+0.240%	$264K	$782K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2102	+0.031%	$1.9M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2100	−0.043%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	−0.032%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2109	+0.340%	$13K	$278K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0756%	1h	0.2102	+0.021%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	+0.059%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2100	−0.055%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2112	+0.502%	$778K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0604%	1h	0.2102	+0.045%	$404K	$474K	5x	as long as short
dYdX ENA-USD	+0.1181%	1h	0.2102	+0.038%	$139K	$15K	5x	as long as short