Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Paradex against OKX+0.039%7-day average — · you sell dearer than you buy

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

Long on OKX 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 0.039% dearer against OKX than usual: you sell high and buy low, +$4 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	OKX ENA-USDT-SWAP	0.2133	0.0100	pay 0.0050% / 4h	3h 52m	$21.3M	$108.8M	50x
Short	Paradex ENA-USD-PERP	0.2134	0.0100	get 0.0100% / 8h	7h 52m	$48K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against OKX. 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 OKXbpFee ParadexbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0.04
Price spread: +0.039% → 0.000%: $3.92
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.04
Costs to cover: 0.140%
Break-even: 1967.6 days

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	0.23 bp	10.4 bp −$10	18.3 bp −$183	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
Phemex ENAUSDT	−0.1079%	4h	0.2130	−0.141%	$1.9M	$9.0M	50x	as long as short
01 Exchange ENAUSD	−0.0096%	1h	0.2135	+0.108%	$4K	$277	10x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2127	−0.277%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	−0.220%	$75K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2130	−0.123%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.450%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2135	+0.094%	$53K	$488K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2133	+0.002%	$572K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2132	−0.023%	$115.7M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2132	−0.043%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2135	+0.104%	$412K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2131	−0.089%	$129.5M	$426.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2131	−0.080%	$88.9M	$192.1M	50x	as long as short
OKX ENA-USDT-SWAPlong	+0.0100%	4h	0.2133	long leg	$21.3M	$108.8M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2131	−0.098%	$33K	$313K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2133	0.000%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2127	−0.304%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	−0.131%	$13.4M	$26.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	−0.103%	$39.6M	$42.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2132	−0.052%	$25.0M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2130	−0.155%	$48.3M	$60.5M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2131	−0.075%	—	$31.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	−0.478%	$3.1M	$9.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2121	−0.579%	$257K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	−0.494%	$361K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	−0.516%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2136	+0.122%	$176K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2085	−2.236%	$889	$913K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2128	−0.234%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2136	+0.141%	$268K	$807K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2134	+0.039%	$48K	$110	10x
Lighter ENA	+0.0104%	1h	0.2130	−0.145%	$5.0M	$12.6M	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2127	−0.271%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	−0.217%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0124%	1h	0.2133	−0.005%	$141K	$16K	5x	as long as short
Phoenix ENA	+0.0150%	1h	0.2133	−0.005%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0196%	1h	0.2129	−0.203%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0754%	1h	0.2130	−0.162%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	−0.028%	$5.6M	$3.4M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0350%	1h	0.2132	−0.052%	$413K	$480K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2132	−0.053%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2138	+0.220%	$803K	$2.0M	50x	as long as short