Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h +0.059%

Price spread now: Paradex against Kraken Futures+0.002%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENAUSD	0.2117	0.0236	pay 0.0029% / 1h	36m 11s	$2.7M	$5.1M	50x
Short	Paradex ENA-USD-PERP	0.2117	0.0100	get 0.0100% / 8h	7h 36m	$47K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kraken Futures. 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 Kraken FuturesbpFee ParadexbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$28.53
Price spread: +0.002% → 0.000%: $0.21
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$42.33
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: 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 Kraken Futures live order book, 3 min ago	14.40 bp	19.5 bp −$19	27.7 bp −$277	102.6 bp −$10.3K	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
Backpack ENA_USDC_PERP	−0.0003%	1h	0.2120	+0.114%	$377K	$415K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	−0.065%	$82K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2116	−0.069%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0026%	4h	0.2115	−0.089%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0033%	1h	0.2119	+0.080%	$140K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.289%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.060%	$62K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2117	+0.003%	$674K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	+0.027%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	+0.025%	$410K	$552K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2116	−0.051%	$131.2M	$445.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2115	−0.089%	$89.0M	$186.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2116	−0.060%	$20.8M	$108.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	+0.058%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	+0.129%	$105K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.037%	$89K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	−0.089%	$10.8M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2116	−0.056%	$46.2M	$44.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	+0.034%	$24.4M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2114	−0.159%	$48.0M	$61.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2116	−0.079%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.121%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.009%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.013%	$356K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.034%	$34K	$709K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	−0.056%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.379%	$841	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	−0.060%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2119	+0.100%	$275K	$1.3M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.060%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2117	+0.002%	$47K	$221	10x
Aevo ENA-PERP	+0.0104%	1h	0.2116	−0.060%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.072%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0224%	1h	0.2118	+0.025%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSDlong	+0.0236%	1h	0.2117	long leg	$2.7M	$5.1M	50x
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2115	−0.090%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2115	−0.105%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2119	+0.081%	$5.6M	$2.8M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	−0.104%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0600%	1h	0.2119	+0.077%	$5.6M	$12.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2120	+0.119%	$837K	$1.8M	50x	as long as short
Hyperliquid ENA	+0.0699%	1h	0.2119	+0.091%	$114.3M	$75.3M	10x	as long as short