Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Paradex against Gate−0.141%45s7-day average — · you buy dearer than you sell

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

Long on Gate 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 0.141% cheaper against Gate than usual: you would sell low and buy high, −$14 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2125	0.0100	pay 0.0050% / 4h	18m 46s	$10.9M	$21.5M	50x
Short	Paradex ENA-USD-PERP	0.2122	0.0100	get 0.0100% / 8h	18m 46s	$47K	$221	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Gate. 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 GatebpFee ParadexbpOrdersPrice spread, now −0.141%Rate

Funding earned: $0.01
Price spread: −0.141% → 0.000%: −$14.08
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$33.08
Costs to cover: 0.190%
Break-even: 42456.5 days

Slippage unknown: Gate: 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 Gate live order book, 5 min ago	3.31 bp	20.7 bp −$21	36.6 bp −$366	57.3 bp −$5,734	95.4 bp −$47.7K
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
Orderly PERP_ENA_USDC	−0.0005%	4h	0.2125	+0.024%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	+0.056%	$93K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2125	0.000%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.066%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0044%	1h	0.2126	+0.071%	$377K	$446K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.038%	$61K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.024%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	−0.002%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2123	−0.107%	$410K	$561K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.015%	$131.2M	$451.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2125	−0.009%	$89.3M	$189.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2125	0.000%	$20.6M	$111.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	−0.282%	$15K	$399K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2124	−0.038%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2121	−0.179%	$89K	$500	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2125	long leg	$10.9M	$21.5M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2125	0.000%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.042%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.075%	$48.1M	$63.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2125	−0.005%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2120	−0.213%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.429%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.356%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2117	−0.367%	$34K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2125	+0.028%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.396%	$1K	$826K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	+0.009%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2127	+0.099%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+0.009%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2122	−0.141%	$47K	$221	10x
Aevo ENA-PERP	+0.0104%	1h	0.2126	+0.042%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.315%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2125	+0.028%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2124	−0.028%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	+0.038%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2125	+0.008%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.005%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2124	−0.024%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0528%	1h	0.2127	+0.118%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2120	−0.240%	$837K	$2.0M	50x	as long as short
Hyperliquid ENA	+0.0758%	1h	0.2128	+0.155%	$114.6M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1536%	1h	0.2121	−0.178%	$140K	$15K	5x	as long as short