Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Paradex against Bitget−0.003%7-day average — · you buy dearer than you sell

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

Long on Bitget 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	Bitget ENAUSDT	0.2159	0.0100	pay 0.0050% / 4h	3h 16m	$48.9M	$61.4M	75x
Short	Paradex ENA-USD-PERP	0.2159	0.0100	get 0.0100% / 8h	7h 16m	$48K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bitget. 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 BitgetbpFee ParadexbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0.1
Price spread: −0.003% → 0.000%: −$0.29
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.19
Costs to cover: 0.160%
Break-even: 1197.8 days

Slippage unknown: Bitget: 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 Bitget live order book, 3 min ago	0.70 bp	13.6 bp −$14	22.1 bp −$221	doesn't fit	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	−0.019%	$81K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2157	−0.083%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2157	−0.097%	$42K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.640%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0069%	1h	0.2157	−0.078%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2158	−0.037%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2159	−0.002%	$715K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2159	−0.009%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2159	+0.006%	$425K	$553K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2159	+0.009%	$134.6M	$442.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2158	−0.014%	$89.1M	$187.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2159	−0.005%	$21.2M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2156	−0.144%	$16K	$413K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2160	+0.056%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2150	−0.404%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2157	−0.079%	$11.0M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2159	+0.014%	$46.2M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2160	+0.056%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2159	long leg	$48.9M	$61.4M	75x
BingX ENA-USDT	+0.0100%	4h	0.2157	−0.107%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2157	−0.079%	$384K	$409K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2157	−0.073%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.668%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	−0.655%	$357K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.593%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2158	−0.051%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2107	−2.376%	$1K	$833K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2158	−0.037%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2160	+0.051%	$280K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2160	+0.056%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2159	−0.003%	$48K	$110	10x
Aevo ENA-PERP	+0.0104%	1h	0.2158	−0.052%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2153	−0.283%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0184%	1h	0.2158	−0.023%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2160	+0.042%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0312%	1h	0.2158	−0.035%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2157	−0.094%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2156	−0.125%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2157	−0.094%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2159	+0.019%	$855K	$1.8M	50x	as long as short
Lighter ENA	+0.0704%	1h	0.2162	+0.144%	$5.7M	$12.7M	10x	as long as short
Hyperliquid ENA	+0.0766%	1h	0.2161	+0.111%	$117.5M	$74.6M	10x	as long as short