Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against Paradex+0.045%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Arcus

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.045% dearer against Paradex 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	Paradex ENA-USD-PERP	0.2098	0.0100	pay 0.0100% / 8h	2h 32m	$47K	$221	10x
Short	Arcus ENA-USD	0.2099	0.0100	get 0.0013% / 1h	32m 02s	$82K	$223K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Paradex. 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 ParadexbpFee ArcusbpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → 0.000%: $4.48
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$4.02
Costs to cover: 0.085%
Break-even: 14118.3 days

Slippage unknown: Paradex: no order-book sample; Arcus: live order book, 56 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Arcus live order book, 56 min ago	4.69 bp	11.4 bp −$11	24.8 bp −$248	doesn't fit	doesn't fit

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	−0.0308%	1h	0.2101	+0.150%	$362K	$485K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2099	+0.035%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0032%	1h	0.2099	+0.035%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.078%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	+0.092%	$96K	—	150x	as long as short
Gate ENA_USDT	+0.0016%	4h	0.2100	+0.073%	$10.4M	$21.5M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.208%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2095	−0.122%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.003%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2098	long leg	$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	0.2098	+0.007%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2100	+0.116%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	+0.052%	$403K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2101	+0.121%	$129.5M	$467.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2100	+0.102%	$87.9M	$194.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	+0.145%	$20.3M	$114.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2091	−0.360%	$19K	$433K	5x	as long as short
Arcus ENA-USDshort	+0.0100%	1h	0.2099	+0.045%	$82K	$223K	10x
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.193%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	+0.212%	$44.8M	$48.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2100	+0.107%	$24.3M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2099	+0.045%	$47.5M	$66.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2100	+0.112%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2092	−0.290%	$3.6M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.230%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2094	−0.214%	$359K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2093	−0.241%	$32K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.126%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.353%	$1K	$806K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	+0.045%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.140%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2100	+0.092%	$1.9M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2100	+0.093%	$2.7M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2099	+0.036%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	+0.040%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0213% / S −0.0161%	1h	0.2100	+0.071%	$50K	—	100x	as long as short
Lighter ENA	+0.0288%	1h	0.2102	+0.188%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0305%	1h	0.2103	+0.235%	$111.0M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2098	+0.011%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	+0.060%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.131%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8600%	1h	0.2098	−0.007%	$139K	$15K	5x	as long as short