Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Bulk+0.354%7-day average — · you sell dearer than you buy

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

Long on Bulk 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 0.354% dearer against Bulk than usual: you sell high and buy low, +$35 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	Bulk ENA-USD	0.2143	0.0100	pay 0.0013% / 1h	26m 38s	$90K	−$0	10x
Short	Paradex ENA-USD-PERP	0.2151	0.0100	get 0.0100% / 8h	7h 26m	$48K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bulk. 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 BulkbpFee ParadexbpOrdersPrice spread, now +0.354%Rate

Funding earned: $0
Price spread: +0.354% → 0.000%: $35.41
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $24.41
Costs to cover: 0.110%
Break-even: from the start

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

Bulk 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2144	+0.061%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2145	+0.093%	$98K	—	150x	as long as short
dYdX ENA-USD	+0.0024%	1h	0.2149	+0.295%	$142K	$15K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0033%	4h	0.2144	+0.056%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.915%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0070%	1h	0.2147	+0.210%	$382K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2151	+0.373%	$63K	$519K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2152	+0.411%	$714K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2148	+0.256%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2150	+0.333%	$422K	$549K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2152	+0.401%	$133.5M	$444.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2152	+0.401%	$88.8M	$187.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2151	+0.383%	$21.1M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2147	+0.168%	$15K	$410K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2152	+0.420%	$107K	$242K	10x	as long as short
Bulk ENA-USDlong	+0.0100%	1h	0.2143	long leg	$90K	−$0	10x
Gate ENA_USDT	+0.0100%	4h	0.2150	+0.345%	$11.0M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2149	+0.299%	$46.2M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2151	+0.355%	$24.7M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2150	+0.336%	$48.8M	$61.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2151	+0.355%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	−0.918%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2136	−0.339%	$250K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	−0.903%	$357K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2140	−0.140%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2146	+0.154%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2095	−2.226%	$1K	$829K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2146	+0.140%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2152	+0.425%	$279K	$1.2M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2145	+0.093%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2151	+0.354%	$48K	$221	10x
Aevo ENA-PERP	+0.0104%	1h	0.2144	+0.057%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2144	+0.023%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2152	+0.439%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2147	+0.190%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2151	+0.351%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0332% / S −0.0430%	1h	0.2144	+0.063%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2146	+0.154%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2146	+0.118%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	+0.019%	$848K	$1.8M	50x	as long as short
Lighter ENA	+0.0736%	1h	0.2152	+0.439%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0746%	1h	0.2153	+0.453%	$116.0M	$75.5M	10x	as long as short