Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against KuCoin−0.066%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 0.066% cheaper against KuCoin 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	KuCoin ENAUSDTM	0.2085	0.0100	pay 0.0050% / 4h	1h 45m	$24.7M	$15.0M	75x
Short	Paradex ENA-USD-PERP	0.2083	0.0100	get 0.0100% / 8h	5h 45m	$47K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against KuCoin. 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 KuCoinbpFee ParadexbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$0.04
Price spread: −0.066% → 0.000%: −$6.59
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$22.63
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	2.14 bp	17.2 bp −$17	35.9 bp −$359	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 exchanges

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	−0.0177%	4h	0.2082	−0.110%	$43K	$14K	10x	as long as short
01 Exchange ENAUSD	−0.0168%	1h	0.2083	−0.096%	$4K	$60	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0134%	1h	0.2085	+0.010%	$2.6M	$3.5M	50x	as long as short
Bitget ENAUSDT	−0.0040%	4h	0.2083	−0.062%	$47.1M	$55.8M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2084	−0.029%	$88K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2084	−0.029%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.789%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2085	+0.029%	$4.9M	$12.5M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2084	−0.029%	$55K	$386K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2083	−0.066%	$47K	—	10x

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2085	−0.004%	$567K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2086	+0.067%	$112.8M	$77.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2085	+0.040%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2085	+0.030%	$384K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2084	−0.014%	$125.3M	$405.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2084	−0.029%	$84.3M	$184.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2085	+0.034%	$20.6M	$98.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2101	+0.801%	$27K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2084	−0.029%	$78K	$235K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2097	+0.588%	$102K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2084	−0.019%	$13.6M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2084	−0.048%	$41.4M	$40.8M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2085	long leg	$24.7M	$15.0M	75x
BingX ENA-USDC	+0.0100%	4h	0.2085	+0.019%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2096	+0.533%	$2.9M	$8.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	+0.523%	$242K	$6.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.531%	$354K	$4.3M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2096	+0.547%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2084	−0.024%	$165K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2034	−2.432%	$985	$916K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2084	−0.029%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2090	+0.264%	$262K	$776K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2084	−0.029%	$1.8M	$9.0M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2084	−0.050%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2083	−0.090%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2089	+0.197%	$13K	$278K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0304% / S −0.0754%	1h	0.2084	−0.022%	$57K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2084	−0.024%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2083	−0.099%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2090	+0.264%	$768K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0534%	1h	0.2087	+0.096%	$403K	$473K	5x	as long as short
dYdX ENA-USD	+0.1033%	1h	0.2087	+0.119%	$138K	$15K	5x	as long as short