Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0532%/8h= −58.3% APRpaid last 24h −0.140%

Price spread now: Paradex against Coinbase International−0.197%7-day average — · you buy dearer than you sell

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

Long on Coinbase International 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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Paradex is 0.197% cheaper against Coinbase International than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ENA-PERP-INTX	0.2106	0.0632	pay 0.0079% / 1h	40m 02s	$858K	$1.5M	50x
Short	Paradex ENA-USD-PERP	0.2102	0.0100	get 0.0100% / 8h	4h 40m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −0.197%Rate

Funding earned: −$111.72
Price spread: −0.197% → 0.000%: −$19.73
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$145.45
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago	7.86 bp	18.2 bp −$18	25.1 bp −$251	doesn't fit	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	−0.0292%	1h	0.2098	−0.399%	$364K	$390K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2104	−0.109%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0064%	4h	0.2098	−0.399%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.366%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	−0.362%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.821%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.456%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2099	−0.342%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2102	−0.195%	$55K	$501K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2102	−0.197%	$47K	$110	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	0.2101	−0.252%	$662K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2099	−0.351%	$111.8M	$73.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	−0.319%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2104	−0.102%	$410K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2098	−0.399%	$127.9M	$415.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2097	−0.437%	$85.0M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	−0.404%	$20.8M	$102.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.627%	$20K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.622%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.395%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2097	−0.437%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2097	−0.437%	$45.6M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	−0.366%	$24.5M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2095	−0.508%	$47.8M	$57.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2098	−0.404%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.443%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2097	−0.433%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.526%	$347K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	−0.527%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2102	−0.209%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.735%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	−0.432%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	−0.062%	$272K	$794K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.432%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2096	−0.479%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2099	−0.360%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0119%	1h	0.2104	−0.121%	$139K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2099	−0.330%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2099	−0.346%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	−0.304%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2100	−0.307%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTXlong	+0.0632%	1h	0.2106	long leg	$858K	$1.5M	50x