Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against SoDEX−0.069%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Paradex

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: Paradex is 0.069% cheaper against SoDEX than usual: you would sell low and buy high, −$7 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	SoDEX ENA-USD	0.2114	0.0100	pay 0.0013% / 1h	33m 01s	$4K	$7K	10x
Short	Paradex ENA-USD-PERP	0.2113	0.0100	get 0.0100% / 8h	2h 33m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SoDEX. 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 SoDEXbpFee ParadexbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$0.02
Price spread: −0.069% → 0.000%: −$6.87
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$18.89
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

SoDEX 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	−0.0143%	4h	0.2114	−0.019%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	−0.014%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2113	−0.030%	$82K	—	150x	as long as short
Gate ENA_USDT	+0.0006%	4h	0.2117	+0.137%	$11.1M	$23.6M	50x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2116	+0.076%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.445%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.095%	$57K	$468K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2113	−0.069%	$47K	$110	10x
Nado ENA-PERP	+0.0100%	1h	0.2112	−0.083%	$654K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2117	+0.128%	$114.9M	$74.3M	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	0.2118	+0.174%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2114	−0.008%	$397K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2118	+0.177%	$128.4M	$417.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	+0.184%	$85.6M	$175.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	+0.208%	$21.2M	$104.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2118	+0.175%	$20K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2115	+0.047%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2112	−0.095%	$93K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	+0.184%	$46.8M	$41.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.241%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	+0.137%	$48.1M	$57.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2118	+0.170%	—	$31.2M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2122	+0.361%	$3.1M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2126	+0.571%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	+0.189%	$353K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.568%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	−0.028%	$188K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.427%	$1K	$870K	20x	as long as short
SoDEX ENA-USDlong	+0.0100%	1h	0.2114	long leg	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2120	+0.270%	$267K	$797K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2114	0.000%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2117	+0.160%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	−0.024%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2121	+0.322%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2115	+0.041%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0192%	1h	0.2116	+0.095%	$5.2M	$13.0M	10x	as long as short
dYdX ENA-USD	+0.0304%	1h	0.2114	−0.018%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0358%	1h	0.2113	−0.024%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2114	−0.019%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.072%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0592%	1h	0.2116	+0.085%	$358K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2131	+0.795%	$872K	$1.7M	50x	as long as short