Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Ondo Perps−0.145%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps 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 airdropOndo Perps: 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 0.145% cheaper against Ondo Perps than usual: you would sell low and buy high, −$15 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	Ondo Perps ENA-USD.P	0.2118	0.0100	pay 0.0013% / 1h	32m 19s	$19K	$366K	5x
Short	Paradex ENA-USD-PERP	0.2115	0.0100	get 0.0100% / 8h	5h 32m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Ondo Perps. 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 Ondo PerpsbpFee ParadexbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0.01
Price spread: −0.145% → 0.000%: −$14.53
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$23.51
Costs to cover: 0.090%
Break-even: 14584.4 days

Slippage unknown: Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Ondo Perps 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
Orderly PERP_ENA_USDC	−0.0005%	4h	0.2110	−0.345%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2111	−0.307%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2111	−0.297%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2115	−0.142%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.269%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0093%	1h	0.2115	−0.139%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2114	−0.175%	$55K	$497K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2112	−0.290%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2114	−0.179%	$113.6M	$71.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2115	−0.147%	$1.5M	$3.0M	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	0.2115	−0.135%	$413K	$511K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	−0.288%	$129.6M	$420.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2111	−0.312%	$86.6M	$175.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2111	−0.321%	$20.8M	$102.4M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2118	long leg	$19K	$366K	5x
Arcus ENA-USD	+0.0100%	1h	0.2114	−0.175%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	−0.127%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2112	−0.264%	$11.1M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2112	−0.269%	$45.4M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2113	−0.217%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	−0.406%	$48.1M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2111	−0.297%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2116	−0.094%	$374K	$364K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2113	−0.230%	$3.4M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2115	−0.138%	$244K	$7.3M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.036%	$353K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2116	−0.080%	$32K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	−0.146%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.522%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2111	−0.316%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	−0.033%	$277K	$781K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2112	−0.269%	$1.9M	$8.9M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2115	−0.145%	$47K	$110	10x
Extended ENA-USD	+0.0104%	1h	0.2110	−0.377%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.316%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2107	−0.501%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2112	−0.280%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2112	−0.262%	$2.7M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.033%	$5.6M	$3.1M	75x	as long as short
Lighter ENA	+0.0384%	1h	0.2113	−0.203%	$5.5M	$13.6M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2111	−0.296%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2118	−0.005%	$833K	$1.5M	50x	as long as short