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 +0.001%

Price spread now: Nado against OKX−0.035%7-day average +0.028% · 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−$40as in the Price arb table

costs, in and out, $10k−$340.336% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days−0.013%−$1 · spread now −0.035%, 7d avg +0.028%

Together, before fees+0.006%+ Points / potential airdropNado: Active · farm board+$1 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: Nado is 0.062% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ENA-USDT-SWAP	0.2172	0.0100	pay 0.0050% / 4h	2h 02m	$21.7M	$109.6M	50x
Short	Nado ENA-PERP	0.2171	0.0100	get 0.0012% / 1h	2m 46s	$577K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → +0.028%: −$6.21
Slippage, 4 orders: −$16.59
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$39.8
Costs to cover: 0.336%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Nado: live order book, 1 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 OKX live order book, 1 min ago	0.23 bp	9.3 bp −$9	18.3 bp −$183	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.92 bp	8.8 bp −$9	16.9 bp −$169	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
Orderly PERP_ENA_USDC	−0.0141%	4h	0.2171	−0.028%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2172	+0.014%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2171	−0.028%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.233%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2172	−0.005%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2171	−0.041%	$55K	$477K	50x	as long as short
Nado ENA-PERPshort	+0.0100%	1h	0.2171	−0.035%	$577K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2173	+0.069%	$117.9M	$75.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2173	+0.041%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2172	−0.005%	$408K	$532K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2172	+0.019%	$131.6M	$426.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2172	−0.009%	$87.6M	$179.2M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2172	long leg	$21.7M	$109.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2175	+0.134%	$21K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2172	+0.005%	$80K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2182	+0.442%	$96K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2171	−0.023%	$11.5M	$24.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2173	+0.032%	$48.4M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2174	+0.115%	$25.3M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2170	−0.106%	$49.3M	$59.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2172	+0.014%	—	$31.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2182	+0.450%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2179	+0.310%	$257K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2179	+0.315%	$364K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2178	+0.281%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2172	−0.014%	$192K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2119	−2.454%	$954	$893K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2172	+0.005%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2176	+0.203%	$273K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2172	+0.005%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2171	−0.032%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2172	+0.002%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2172	−0.014%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2176	+0.203%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2174	+0.113%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0191%	1h	0.2172	−0.002%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0240%	1h	0.2174	+0.115%	$5.2M	$13.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2171	−0.044%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	+0.014%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2171	−0.060%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0522%	1h	0.2174	+0.101%	$398K	$423K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2178	+0.262%	$894K	$1.8M	50x	as long as short