Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h +0.133%

Price spread now: Coinbase International against Paradex+0.006%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Coinbase International

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$14 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ENA-USD-PERP	0.2090	0.0100	pay 0.0100% / 8h	1h 46m	$47K	$221	10x
Short	Coinbase International ENA-PERP-INTX	0.2090	0.0576	get 0.0072% / 1h	46m 47s	$799K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.006%Rate

Funding earned: $99.96
Price spread: +0.006% → 0.000%: $0.65
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $86.61
Costs to cover: 0.140%
Break-even: 0.9 days

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 2 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 Coinbase International live order book, 2 min ago	7.88 bp	14.6 bp −$15	24.4 bp −$244	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	−0.0074%	4h	0.2087	−0.128%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0063%	1h	0.2089	−0.061%	$360K	$482K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2088	−0.118%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2088	−0.120%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.590%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0067%	1h	0.2088	−0.103%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0088%	1h	0.2092	+0.112%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2091	+0.040%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2090	long leg	$47K	$221	10x
Nado ENA-PERP	+0.0100%	1h	0.2092	+0.073%	$656K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2088	−0.084%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	+0.069%	$405K	$582K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2089	−0.070%	$128.6M	$461.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.080%	$86.9M	$192.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2090	−0.017%	$20.2M	$112.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	−0.032%	$20K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	+0.088%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2090	−0.004%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2089	−0.041%	$10.4M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2089	−0.046%	$44.9M	$46.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.026%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2088	−0.099%	$47.3M	$65.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2090	−0.027%	—	$32.9M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2088	−0.081%	$3.8M	$10.4M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2090	−0.021%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2089	−0.056%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2089	−0.056%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	+0.069%	$188K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2041	−2.333%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2087	−0.151%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.150%	$273K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2087	−0.151%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2088	−0.109%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2092	+0.088%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0221% / S −0.0366%	1h	0.2087	−0.153%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2089	−0.066%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	−0.151%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.022%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0456%	1h	0.2091	+0.050%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0519%	1h	0.2092	+0.097%	$110.2M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTXshort	+0.0576%	1h	0.2090	+0.006%	$799K	$2.1M	50x
dYdX ENA-USD	+0.1859%	1h	0.2091	+0.024%	$138K	$15K	5x	as long as short