Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: Paradex against 01 Exchange0.000%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2094	0	get 0.0000% / 1h	55m 53s	$4K	$277	10x
Short	Paradex ENA-USD-PERP	0.2094	0.0100	get 0.0100% / 8h	2h 55m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against 01 Exchange. 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 01 ExchangebpFee ParadexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $20.97
Price spread: 0.000% → 0.000%: $0.01
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $9.98
Costs to cover: 0.110%
Break-even: 3.7 days

Slippage unknown: 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

01 Exchange 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	−0.0134%	4h	0.2097	+0.119%	$44K	$25K	10x	as long as short
Gate ENA_USDT	−0.0016%	4h	0.2090	−0.201%	$10.9M	$23.2M	50x	as long as short
01 Exchange ENAUSDlong	0.0000%	1h	0.2094	long leg	$4K	$277	10x
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	+0.100%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2097	+0.117%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.385%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.019%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2094	0.000%	$47K	$110	10x
Nado ENA-PERP	+0.0100%	1h	0.2093	−0.072%	$649K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2093	−0.057%	$113.3M	$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	0.2092	−0.112%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2096	+0.076%	$398K	$512K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	−0.172%	$126.6M	$414.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2091	−0.148%	$85.0M	$175.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	−0.129%	$20.9M	$102.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	+1.442%	$22K	$324K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2095	+0.029%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	+0.003%	$92K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	−0.134%	$45.2M	$40.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2093	−0.081%	$24.7M	$15.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−0.205%	$47.6M	$57.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2092	−0.110%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	+0.114%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2090	−0.189%	$240K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2091	−0.158%	$346K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	+0.029%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2095	+0.033%	$192K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.588%	$945	$859K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2092	−0.115%	$3K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2095	+0.029%	$272K	$778K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2088	−0.306%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2092	−0.135%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	+0.076%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2098	+0.153%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0164%	1h	0.2093	−0.055%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0184%	1h	0.2090	−0.196%	$5.2M	$13.0M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2097	+0.114%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	+0.759%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.004%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0558%	1h	0.2090	−0.215%	$356K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2097	+0.100%	$859K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1564%	1h	0.2097	+0.144%	$139K	$15K	5x	as long as short