Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Polymarket Perps+0.031%7-day average — · you sell dearer than you buy

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

Long on Polymarket 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 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 0.031% dearer against Polymarket Perps than usual: you sell high and buy low, +$3 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	Polymarket Perps ENA-USD	0.2089	0.0100	pay 0.0013% / 1h	34m 05s	$188K	$2.7M	10x
Short	Paradex ENA-USD-PERP	0.2090	0.0100	get 0.0100% / 8h	1h 34m	$47K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Polymarket 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 Polymarket PerpsbpFee ParadexbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → 0.000%: $3.09
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$8.91
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 5 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 Polymarket Perps live order book, 5 min ago	2.86 bp	7.8 bp −$8	11.3 bp −$113	16525.3 bp −$1.65M	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
Backpack ENA_USDC_PERP	−0.0084%	1h	0.2096	+0.335%	$362K	$481K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0063%	4h	0.2093	+0.196%	$40K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2095	+0.278%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2093	+0.191%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.642%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2096	+0.328%	$2.6M	$5.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2088	−0.053%	$59K	$536K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2090	+0.031%	$47K	$221	10x
Nado ENA-PERP	+0.0100%	1h	0.2089	−0.014%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2092	+0.123%	$1.5M	$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	0.2091	+0.076%	$404K	$581K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	+0.267%	$129.0M	$458.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	+0.263%	$87.1M	$191.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	+0.302%	$20.1M	$112.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2094	+0.244%	$15K	$416K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	+0.091%	$82K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	+0.419%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2095	+0.287%	$10.4M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	+0.292%	$45.1M	$46.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.302%	$23.9M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2094	+0.225%	$47.3M	$65.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	+0.282%	—	$33.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2091	+0.082%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+0.295%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	+0.282%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2100	+0.522%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2089	long leg	$188K	$2.7M	10x
SunX ENA-USDT	+0.0100%	4h	0.2038	−2.436%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	+0.282%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.349%	$273K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2094	+0.235%	$1.9M	$9.2M	50x	as long as short
01 Exchange ENAUSD	+0.0104%	1h	0.2089	−0.010%	$4K	$432	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2094	+0.241%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2095	+0.263%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0229% / S −0.0386%	1h	0.2092	+0.160%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2094	+0.224%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	+0.172%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2088	−0.064%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0504%	1h	0.2098	+0.431%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0567%	1h	0.2099	+0.455%	$110.9M	$79.6M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2097	+0.359%	$806K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1905%	1h	0.2090	+0.066%	$138K	$15K	5x	as long as short