Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.006%

Price spread now: Gate against Paradex−0.007%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Gate

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ENA-USD-PERP	0.2093	0.0100	pay 0.0100% / 8h	2h 44m	$47K	$221	10x
Short	Gate ENA_USDT	0.2093	−0.0046	pay 0.0023% / 4h	2h 44m	$10.3M	$21.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.007%Rate

Funding earned: −$30.66
Price spread: −0.007% → 0.000%: −$0.68
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.33
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	3.58 bp	17.6 bp −$18	30.7 bp −$307	58.4 bp −$5,842	98.5 bp −$49.3K

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
Backpack ENA_USDC_PERP	−0.0408%	1h	0.2093	+0.017%	$360K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0088%	4h	0.2093	+0.027%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0048%	1h	0.2094	+0.041%	$4K	$432	10x	as long as short
Gate ENA_USDTshort	−0.0046%	4h	0.2093	−0.007%	$10.3M	$21.5M	50x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	+0.070%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2094	+0.055%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.460%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2096	+0.156%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2093	+0.008%	$59K	$542K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2093	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	0.2094	+0.065%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2095	+0.115%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2093	+0.022%	$402K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	+0.038%	$129.2M	$470.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2092	−0.021%	$87.6M	$194.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	+0.041%	$20.1M	$114.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2094	+0.041%	$19K	$444K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	+0.055%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.342%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	+0.098%	$44.9M	$48.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.098%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.035%	$47.4M	$66.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2094	+0.041%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2094	+0.058%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+0.085%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	+0.105%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	+0.103%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2096	+0.170%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2043	−2.362%	$780	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2093	+0.008%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2103	+0.481%	$273K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2093	+0.008%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2093	−0.009%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	+0.051%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2096	+0.134%	$2.7M	$5.8M	50x	as long as short
Lighter ENA	+0.0136%	1h	0.2096	+0.132%	$5.6M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2094	+0.034%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0253%	1h	0.2097	+0.218%	$111.4M	$80.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	+0.017%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	+0.058%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.380%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.8963%	1h	0.2094	+0.039%	$138K	$12K	5x	as long as short