Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1098%/8h= +120.3% APRpaid last 24h +0.649%

Price spread now: dYdX against Paradex+0.042%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 dYdX

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

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and dYdX is 0.042% dearer against Paradex than usual: you sell high and buy low: +$4 more if the spread 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	0.2095	0.0100	pay 0.0100% / 8h	3h 00m	$47K	$110	10x
Short	dYdX ENA-USD	0.2096	0.1198	get 0.0150% / 1h	0m 38s	$138K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $230.62
Price spread: +0.042% → 0.000%: $4.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: $220.86
Costs to cover: 0.140%
Break-even: 0.3 days

Slippage unknown: Paradex: no order-book sample; dYdX: live order book, 53 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 dYdX live order book, 53 min ago	50.64 bp	55.6 bp −$56	373.4 bp −$3,734	712.2 bp −$71.2K	1724.6 bp −$862.3K

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	−0.0131%	4h	0.2091	−0.197%	$43K	$25K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2091	−0.169%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.174%	$72K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2090	−0.204%	$81K	—	150x	as long as short
Gate ENA_USDT	+0.0016%	4h	0.2094	−0.054%	$10.9M	$23.4M	50x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.373%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	−0.174%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2095	long leg	$47K	$110	10x
Nado ENA-PERP	+0.0100%	1h	0.2091	−0.178%	$647K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2094	−0.006%	$113.5M	$74.0M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2094	−0.009%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	+0.001%	$398K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.005%	$126.8M	$411.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	+0.003%	$84.5M	$174.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	+0.032%	$20.8M	$102.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2090	−0.240%	$22K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2096	+0.065%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	−0.008%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	+0.027%	$45.3M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	+0.056%	$24.7M	$15.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2095	+0.022%	$47.6M	$57.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2096	+0.060%	—	$31.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2092	−0.140%	$357K	$400K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2089	−0.246%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.058%	$240K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2098	+0.162%	$347K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	+0.065%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.150%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.599%	$1K	$857K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.174%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.041%	$272K	$773K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	−0.174%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2096	+0.052%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.191%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2100	+0.256%	$8K	$274K	10x	as long as short
Lighter ENA	+0.0168%	1h	0.2097	+0.089%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0175%	1h	0.2092	−0.115%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2090	−0.209%	$69K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2091	−0.169%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.207%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2095	+0.041%	$858K	$1.7M	50x	as long as short
dYdX ENA-USDshort	+0.1198%	1h	0.2096	+0.042%	$138K	$15K	5x