Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Paradex against Bulk+0.021%7-day average — · you sell dearer than you buy

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

Long on Bulk Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.021% dearer against Bulk than usual: you sell high and buy low, +$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ENA-USD	0.2122	0.0100	pay 0.0013% / 1h	53m 09s	$89K	$500	10x
Short	Paradex ENA-USD-PERP	0.2122	0.0100	get 0.0100% / 8h	53m 09s	$47K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bulk. 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 BulkbpFee ParadexbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0.01
Price spread: +0.021% → 0.000%: $2.1
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$8.89
Costs to cover: 0.110%
Break-even: 5206.1 days

Slippage unknown: Bulk: no order-book sample; 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 Bulk no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Bulk and 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
Orderly PERP_ENA_USDC	−0.0033%	4h	0.2128	+0.287%	$41K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0027%	1h	0.2129	+0.368%	$376K	$447K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2129	+0.344%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2128	+0.297%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.085%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2128	+0.302%	$63K	$529K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2128	+0.306%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2128	+0.305%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2123	+0.075%	$411K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	+0.259%	$131.5M	$455.7M	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	0.2126	+0.188%	$89.2M	$191.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	+0.287%	$20.6M	$112.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	−0.368%	$16K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.207%	$84K	$221K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2122	long leg	$89K	$500	10x
Gate ENA_USDT	+0.0100%	4h	0.2128	+0.302%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.273%	$47.0M	$45.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2129	+0.349%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	+0.226%	$48.2M	$64.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2127	+0.259%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	−0.143%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.264%	$251K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	−0.264%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	+0.066%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2129	+0.339%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2077	−2.116%	$1K	$821K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	+0.302%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.603%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.254%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2122	+0.021%	$47K	$221	10x
Aevo ENA-PERP	+0.0104%	1h	0.2128	+0.299%	$78K	$11K	3x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2126	+0.226%	$4K	$312	10x	as long as short
Phoenix ENA	+0.0189%	1h	0.2115	−0.292%	$5K	$347K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2129	+0.342%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2128	+0.286%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	+0.292%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0352%	1h	0.2128	+0.292%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.238%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0544%	1h	0.2130	+0.419%	$5.7M	$12.8M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.467%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0586%	1h	0.2131	+0.443%	$114.3M	$78.7M	10x	as long as short
dYdX ENA-USD	+0.1669%	1h	0.2122	+0.020%	$140K	$15K	5x	as long as short