Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: Paradex against gTrade (Gains Network)+0.167%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.167% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$17 more if the spread 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	gTrade (Gains Network) ENA/USD	0.2087	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	10m 45s	$96K	—	150x
Short	Paradex ENA-USD-PERP	0.2091	0.0100	get 0.0100% / 8h	2h 10m	$47K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee ParadexbpOrdersPrice spread, now +0.167%Rate

Funding earned: $20.28
Price spread: +0.167% → 0.000%: $16.67
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $22.95
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

gTrade (Gains Network) 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
Backpack ENA_USDC_PERP	−0.0289%	1h	0.2092	+0.203%	$361K	$483K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2088	+0.021%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2088	+0.006%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2089	+0.069%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2087	long leg	$96K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.721%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0062%	4h	0.2091	+0.150%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.337%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2086	−0.070%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2091	+0.167%	$47K	$221	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2086	−0.066%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2091	+0.161%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2091	+0.193%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.174%	$128.9M	$465.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	+0.140%	$87.1M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	+0.203%	$20.2M	$113.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	+0.092%	$19K	$423K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2087	−0.023%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2087	−0.029%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2091	+0.150%	$45.4M	$49.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.183%	$24.0M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	+0.112%	$47.3M	$66.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2091	+0.155%	—	$32.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	+0.430%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2098	+0.485%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	+0.169%	$349K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.504%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	+0.006%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.379%	$1K	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2088	+0.025%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2097	+0.452%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2090	+0.121%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2089	+0.067%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2089	+0.093%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0184%	1h	0.2090	+0.123%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2087	−0.023%	$50K	—	100x	as long as short
Lighter ENA	+0.0304%	1h	0.2094	+0.294%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	−0.032%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0350%	1h	0.2093	+0.284%	$110.4M	$80.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2086	−0.063%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2090	+0.102%	$800K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5372%	1h	0.2091	+0.146%	$138K	$15K	5x	as long as short