Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against MEXC−0.195%7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.195% cheaper against MEXC than usual: you would sell low and buy high, −$19 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	MEXC ENA_USDT	0.2188	0.0100	pay 0.0050% / 4h	2h 13m	$48.1M	$41.9M	200x
Short	Paradex ENA-USD-PERP	0.2184	0.0100	get 0.0100% / 8h	2h 13m	$49K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against MEXC. 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 MEXCbpFee ParadexbpOrdersPrice spread, now −0.195%Rate

Funding earned: $0.05
Price spread: −0.195% → 0.000%: −$19.48
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$23.43
Costs to cover: 0.040%
Break-even: 3576.1 days

Slippage unknown: MEXC: live order book, 1 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 MEXC live order book, 1 min ago	0.23 bp	2.9 bp −$3	6.8 bp −$68	37.9 bp −$3,785	66.4 bp −$33.2K
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	−0.0137%	4h	0.2192	+0.146%	$46K	$26K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2192	+0.153%	$85K	—	150x	as long as short
Phemex ENAUSDT	+0.0024%	4h	0.2187	−0.069%	$1.8M	$8.9M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.975%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2187	−0.078%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2187	−0.069%	$54K	$476K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2191	+0.107%	$568K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2188	−0.009%	$118.6M	$75.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2184	−0.197%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2184	−0.211%	$410K	$528K	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	0.2183	−0.239%	$132.6M	$425.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2183	−0.247%	$88.3M	$178.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2183	−0.228%	$21.9M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2176	−0.576%	$21K	$335K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2187	−0.069%	$81K	$280K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2185	−0.151%	$11.6M	$24.5M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2188	long leg	$48.1M	$41.9M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2190	+0.091%	$25.6M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2182	−0.297%	$49.4M	$58.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2182	−0.302%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2174	−0.672%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2175	−0.611%	$253K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2177	−0.525%	$365K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2178	−0.480%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2193	+0.187%	$194K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2139	−2.280%	$921	$886K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2191	+0.114%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2188	0.000%	$274K	$806K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−2.605%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2184	−0.195%	$49K	$110	10x
Extended ENA-USD	+0.0104%	1h	0.2191	+0.098%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2192	+0.143%	$77K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	−0.653%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0157%	1h	0.2192	+0.169%	$2.7M	$4.3M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0161%	1h	0.2192	+0.169%	$71K	$1.1M	50x	as long as short
dYdX ENA-USD	+0.0233%	1h	0.2183	−0.256%	$144K	$16K	5x	as long as short
Lighter ENA	+0.0248%	1h	0.2193	+0.215%	$5.3M	$13.4M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0311% / S −0.0753%	1h	0.2191	+0.114%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2193	+0.201%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2191	+0.114%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0678%	1h	0.2188	−0.027%	$369K	$401K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2192	+0.174%	$897K	$1.8M	50x	as long as short