Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Nado−0.475%7-day average −0.033% · 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−$83as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.478%+$48 · spread now −0.475%, 7d avg −0.033%

Together, before fees+0.460%+ Points / potential airdropNado: Active · edgeX: Active · farm board+$46 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: edgeX is 0.442% cheaper against Nado than usual: you would sell low and buy high, −$44 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ENA-PERP	0.2103	0.0100	pay 0.0012% / 1h	48m 56s	$652K	$1.7M	10x
Short	edgeX ENAUSDC	0.2093	0.0100	get 0.0050% / 4h	2h 48m	$238K	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.475%Rate

Funding earned: $0
Price spread: −0.475% → −0.033%: −$44.19
Slippage, 4 orders: −$22.34
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$82.53
Costs to cover: 0.383%
Break-even: 1646386540353459.8 days

Slippage from Nado: live order book, 5 min ago; edgeX: live order book, 5 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	1.67 bp	6.5 bp −$6	19.0 bp −$190	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	7.17 bp	11.7 bp −$12	13.2 bp −$132	44.6 bp −$4,463	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
ApeX Omni ENAUSDT	−0.0291%	1h	0.2103	−0.010%	$20K	$649K	50x	as long as short
Orderly PERP_ENA_USDC	−0.0138%	4h	0.2102	−0.071%	$44K	$25K	10x	as long as short
Gate ENA_USDT	−0.0054%	4h	0.2101	−0.124%	$10.9M	$23.4M	50x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2102	−0.038%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2102	−0.052%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2103	−0.026%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.960%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	−0.057%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2103	−0.021%	$47K	$110	10x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2103	long leg	$652K	$1.7M	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2104	+0.014%	$113.8M	$74.2M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2102	−0.059%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2103	−0.003%	$395K	$522K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2101	−0.118%	$127.7M	$416.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	−0.128%	$85.2M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	−0.124%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2099	−0.209%	$22K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2102	−0.057%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2096	−0.319%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2100	−0.162%	$45.3M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	−0.014%	$24.8M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	−0.190%	$47.8M	$57.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2101	−0.105%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2102	−0.067%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDCshort	+0.0100%	4h	0.2093	−0.475%	$238K	$6.8M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2102	−0.041%	$355K	$5.0M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2103	−0.005%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2052	−2.411%	$1K	$867K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2101	−0.105%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.100%	$274K	$777K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2101	−0.105%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2099	−0.189%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2102	−0.055%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2104	+0.024%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0163%	1h	0.2104	+0.033%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0248%	1h	0.2104	+0.019%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2103	−0.010%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2103	−0.029%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2102	−0.040%	$1K	$5K	15x	as long as short
dYdX ENA-USD	+0.0469%	1h	0.2102	−0.059%	$139K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0551%	1h	0.2102	−0.057%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2100	−0.152%	$860K	$1.7M	50x	as long as short