Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bybit against Nado+0.014%7-day average −0.046% · 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−$31as in the Price arb table

costs, in and out, $10k−$370.366% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.021%−$2 on $10k

Price spread, last 7 days+0.037%+$4 · spread now +0.014%, 7d avg −0.046%

Together, before fees+0.016%+ Points / potential airdropNado: Active · farm board+$2 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: Bybit is 0.060% dearer against Nado than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2113	0.0100	pay 0.0012% / 1h	31m 10s	$655K	$1.7M	10x
Short	Bybit ENAUSDT	0.2113	0.0100	get 0.0050% / 4h	2h 31m	$85.5M	$175.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.046%: $6.01
Slippage, 4 orders: −$18.64
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.63
Costs to cover: 0.366%
Break-even: 611083187526253.8 days

Slippage from Nado: live order book, 2 min ago; Bybit: 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, 2 min ago	1.42 bp	7.8 bp −$8	18.8 bp −$188	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.24 bp	9.9 bp −$10	19.2 bp −$192	65.6 bp −$6,557	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
Orderly PERP_ENA_USDC	−0.0144%	4h	0.2112	−0.071%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2112	−0.033%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2112	−0.056%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0012%	4h	0.2113	+0.019%	$11.1M	$23.7M	50x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2114	+0.066%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.492%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2111	−0.095%	$57K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2113	+0.013%	$47K	$110	10x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2113	long leg	$655K	$1.7M	10x
Hyperliquid ENA	+0.0100%	1h	0.2115	+0.109%	$114.9M	$74.3M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2113	+0.004%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2114	+0.038%	$397K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2114	+0.024%	$128.1M	$417.7M	75x	as long as short
Bybit ENAUSDTshort	+0.0100%	4h	0.2113	+0.014%	$85.5M	$175.2M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2114	+0.052%	$21.2M	$104.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.222%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	+0.047%	$79K	$276K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2114	+0.024%	$46.8M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+0.024%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2112	−0.028%	$48.0M	$57.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2114	+0.038%	—	$31.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	+0.408%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2113	+0.007%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	+0.026%	$351K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2114	+0.047%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2112	−0.028%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.433%	$1K	$871K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	−0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.454%	$268K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	+0.047%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	+0.237%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.081%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2112	−0.062%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2115	+0.104%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2113	+0.003%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0208%	1h	0.2115	+0.114%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0294%	1h	0.2115	+0.072%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2111	−0.086%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	−0.118%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.058%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0590%	1h	0.2114	+0.047%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2131	+0.842%	$872K	$1.7M	50x	as long as short