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 0.000%

Price spread now: ApeX Omni against Paradex−0.292%50s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on ApeX Omni

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: ApeX Omni is 0.292% cheaper against Paradex than usual: you would sell low and buy high, −$29 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	Paradex ENA-USD-PERP	0.2131	0.0100	pay 0.0100% / 8h	14m 36s	$48K	$221	10x
Short	ApeX Omni ENAUSDT	0.2125	0.0100	get 0.0013% / 1h	14m 36s	$34K	$713K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Paradex. 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 ParadexbpFee ApeX OmnibpOrdersPrice spread, now −0.292%Rate

Funding earned: $0
Price spread: −0.292% → 0.000%: −$29.22
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$43.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; ApeX Omni: live order book, 64 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 64 min ago	9.55 bp	22.3 bp −$22	145.6 bp −$1,456	doesn't fit	doesn't fit

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	−0.0002%	4h	0.2130	−0.034%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2132	+0.013%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2130	−0.075%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.367%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0056%	1h	0.2134	+0.111%	$378K	$446K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2131	−0.011%	$64K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2131	−0.013%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2132	+0.046%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2132	+0.018%	$412K	$561K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2131	−0.015%	$131.7M	$450.9M	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	0.2131	−0.020%	$89.7M	$189.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2130	−0.058%	$20.7M	$111.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	−0.104%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2132	+0.036%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2121	−0.480%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2131	−0.015%	$10.9M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	+0.003%	$46.7M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2132	+0.055%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2129	−0.095%	$48.3M	$63.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2131	−0.001%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	−0.131%	$3.9M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2123	−0.366%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2123	−0.371%	$363K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2125	−0.292%	$34K	$713K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	−0.034%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2078	−2.516%	$895	$826K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	−0.011%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	−0.039%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2131	−0.011%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2131	long leg	$48K	$221	10x
Aevo ENA-PERP	+0.0104%	1h	0.2131	−0.018%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2125	−0.306%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2134	+0.121%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2131	+0.003%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0239%	1h	0.2133	+0.087%	$2.7M	$5.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2129	−0.088%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2128	−0.147%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2129	−0.088%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0552%	1h	0.2134	+0.135%	$5.7M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2134	+0.116%	$842K	$2.0M	50x	as long as short
Hyperliquid ENA	+0.0762%	1h	0.2135	+0.182%	$115.0M	$78.4M	10x	as long as short
dYdX ENA-USD	+0.1365%	1h	0.2132	+0.021%	$141K	$15K	5x	as long as short