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 +0.003%

Price spread now: Paradex against Bybit−0.019%7-day average — · you buy dearer than you sell

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

Long on Bybit 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	Bybit ENAUSDT	0.2125	0.0100	pay 0.0050% / 4h	1m 25s	$89.3M	$189.0M	50x
Short	Paradex ENA-USD-PERP	0.2125	0.0100	get 0.0100% / 8h	1m 25s	$48K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → 0.000%: −$1.86
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.86
Costs to cover: 0.150%
Break-even: 32805.0 days

Slippage unknown: Bybit: live order book, 8 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 Bybit live order book, 8 min ago	0.23 bp	9.1 bp −$9	15.8 bp −$158	55.6 bp −$5,559	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	0.2129	+0.169%	$95K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2129	+0.146%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0012%	4h	0.2128	+0.104%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.099%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0055%	1h	0.2128	+0.122%	$379K	$445K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	−0.024%	$63K	$527K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.033%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	+0.079%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	+0.031%	$411K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2126	+0.003%	$131.8M	$449.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDTlong	+0.0100%	4h	0.2125	long leg	$89.3M	$189.0M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.024%	$20.7M	$110.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	+0.047%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.024%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.020%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	−0.033%	$10.8M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2126	+0.024%	$46.4M	$45.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.061%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2124	−0.075%	$48.3M	$63.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2126	+0.038%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2121	−0.195%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.112%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.111%	$360K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2128	+0.118%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	+0.061%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.319%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	+0.071%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2140	+0.659%	$278K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2127	+0.071%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2125	−0.019%	$48K	$221	10x
Aevo ENA-PERP	+0.0104%	1h	0.2131	+0.239%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.155%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2127	+0.061%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2128	+0.141%	$2.7M	$5.2M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2124	−0.052%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2127	+0.087%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.089%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2126	+0.012%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.325%	$842K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2128	+0.122%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0744%	1h	0.2130	+0.193%	$114.8M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1059%	1h	0.2128	+0.111%	$141K	$15K	5x	as long as short