Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Binance−0.010%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2167	0.0100	pay 0.0050% / 4h	3h 10m	$135.3M	$441.9M	75x
Short	Paradex ENA-USD-PERP	0.2167	0.0100	get 0.0100% / 8h	7h 10m	$49K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Binance. 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 BinancebpFee ParadexbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0.08
Price spread: −0.010% → 0.000%: −$0.96
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$14.88
Costs to cover: 0.140%
Break-even: 1261.8 days

Slippage unknown: Binance: live order book, 3 min ago; Paradex: no order-book sample. Net counts fees only.

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 Binance live order book, 3 min ago	0.23 bp	8.6 bp −$9	17.2 bp −$172	58.1 bp −$5,808	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2158	−0.429%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2159	−0.409%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2157	−0.489%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.035%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2159	−0.392%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2158	−0.429%	$713K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2164	−0.143%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2168	+0.018%	$427K	$553K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2167	long leg	$135.3M	$441.9M	75x
Bybit ENAUSDT	+0.0100%	4h	0.2168	+0.037%	$89.3M	$186.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2167	−0.042%	$21.3M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2159	−0.401%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2168	+0.023%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.803%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2167	−0.023%	$11.1M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2168	+0.023%	$45.9M	$44.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2169	+0.065%	$24.9M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2166	−0.074%	$49.1M	$61.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2167	−0.014%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2159	−0.397%	$383K	$388K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2158	−0.452%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2159	−0.405%	$250K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2161	−0.300%	$366K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2159	−0.392%	$33K	$686K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2159	−0.374%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2108	−2.731%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2158	−0.438%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2161	−0.286%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2157	−0.484%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2167	−0.010%	$49K	$110	10x
Aevo ENA-PERP	+0.0104%	1h	0.2158	−0.454%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2162	−0.258%	$8K	$347K	10x	as long as short
dYdX ENA-USD	+0.0169%	1h	0.2167	−0.032%	$143K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0176%	1h	0.2161	−0.318%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2159	−0.398%	$2.7M	$5.1M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	−0.436%	$81K	—	100x	as long as short
Extended ENA-USD	+0.0336%	1h	0.2167	−0.041%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2158	−0.415%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2158	−0.449%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2160	−0.328%	$854K	$1.8M	50x	as long as short
Lighter ENA	+0.0752%	1h	0.2171	+0.166%	$6.0M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0795%	1h	0.2171	+0.157%	$118.2M	$74.8M	10x	as long as short