Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.011%

Price spread now: Paradex against Extended−0.105%7-day average — · you buy dearer than you sell

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

Long on Extended 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 airdropExtended: Active · Paradex: 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 0.105% cheaper against Extended than usual: you would sell low and buy high, −$10 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	Extended ENA-USD	0.2088	0.0104	pay 0.0013% / 1h	55m 16s	$1.6M	$4.2M	50x
Short	Paradex ENA-USD-PERP	0.2086	0.0100	get 0.0100% / 8h	2h 55m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$0.87
Price spread: −0.105% → 0.000%: −$10.48
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$20.35
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 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 Extended live order book, 4 min ago	1.19 bp	6.3 bp −$6	13.7 bp −$137	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
Orderly PERP_ENA_USDC	−0.0135%	4h	0.2089	+0.044%	$43K	$25K	10x	as long as short
Gate ENA_USDT	−0.0020%	4h	0.2086	−0.114%	$10.9M	$23.2M	50x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2087	−0.042%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2089	+0.030%	$72K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2087	−0.047%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.697%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2087	−0.047%	$56K	$466K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2086	−0.105%	$47K	$110	10x
Nado ENA-PERP	+0.0100%	1h	0.2085	−0.146%	$647K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2088	+0.020%	$113.0M	$74.3M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.107%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2088	+0.012%	$397K	$512K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.121%	$126.6M	$414.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2088	+0.016%	$84.9M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2090	+0.083%	$20.9M	$102.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2092	+0.207%	$22K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2087	−0.047%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	+0.311%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2086	−0.075%	$45.1M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+0.030%	$24.7M	$15.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2087	−0.037%	$47.5M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2087	−0.037%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.422%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2102	+0.651%	$241K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2107	+0.911%	$348K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	+0.863%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2087	−0.042%	$192K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.346%	$1K	$861K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2090	+0.097%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.236%	$271K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	+0.097%	$1.7M	$8.9M	50x	as long as short
Lighter ENA	+0.0104%	1h	0.2091	+0.150%	$5.2M	$13.0M	10x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2088	long leg	$1.6M	$4.2M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2088	−0.013%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2098	+0.461%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0164%	1h	0.2091	+0.157%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2087	−0.051%	$69K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2088	+0.016%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2086	−0.116%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0558%	1h	0.2090	+0.092%	$356K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2090	+0.116%	$856K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1173%	1h	0.2088	−0.021%	$138K	$15K	5x	as long as short