Funding arb · Price arb /

ENA

all ENA markets

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: MEXC against Paradex+0.027%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 MEXC

What this pair did over the last

the charts below follow

Funding, last 5 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: MEXC is 0.027% dearer against Paradex than usual: you sell high and buy low, +$3 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	Paradex ENA-USD-PERP	0.2086	0.0100	pay 0.0100% / 8h	3h 08m	$47K	—	10x
Short	MEXC ENA_USDT	0.2087	0.0100	get 0.0050% / 4h	3h 08m	$50.9M	$32.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0.01
Price spread: +0.027% → 0.000%: $2.66
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee MEXC: 0 bp × 2 orders: $0
Net: −$1.33
Costs to cover: 0.040%
Break-even: 986.1 days

Slippage unknown: Paradex: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.24 bp	1.5 bp −$1	6.0 bp −$60	34.7 bp −$3,473	67.0 bp −$33.5K

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
Kraken Futures PF_ENAUSD	−0.0747%	1h	0.2091	+0.232%	$2.5M	$2.7M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0063%	4h	0.2089	+0.122%	$39K	$16K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2090	+0.190%	$18K	$691K	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0005%	1h	0.2089	+0.162%	$90K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.719%	$734	$581	5.5x	as long as short
Phoenix ENA	+0.0077%	1h	0.2089	+0.161%	$14K	$182K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2092	+0.300%	$4.9M	$8.3M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2084	−0.098%	$62K	$366K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2086	long leg	$47K	—	10x
Nado ENA-PERP	+0.0100%	1h	0.2087	+0.046%	$580K	$1.1M	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2092	+0.305%	$109.4M	$55.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2087	+0.026%	$1.1M	$1.7M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2088	+0.075%	$381K	$274K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2085	−0.055%	$120.3M	$304.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2084	−0.112%	$80.9M	$139.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2084	−0.117%	$19.5M	$77.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2082	−0.180%	$37K	$224K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2085	−0.050%	$75K	$108K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2084	−0.098%	$137K	$8K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2086	−0.012%	$17.2M	$26.0M	50x	as long as short
MEXC ENA_USDTshort	+0.0100%	4h	0.2087	+0.027%	$50.9M	$32.5M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2091	+0.247%	$24.6M	$11.1M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2084	−0.093%	$47.2M	$42.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2088	+0.075%	—	$16.9M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2091	+0.247%	$343K	$464K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2085	−0.073%	$2.2M	$3.6M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2083	−0.144%	$237K	$5.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2085	−0.030%	$348K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2085	−0.050%	$16K	$631K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2090	+0.170%	$127K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2036	−2.389%	$1K	$895K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2090	+0.190%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2092	+0.295%	$258K	$426K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	+0.237%	$1.6M	$9.1M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2086	−0.017%	$1.9M	$3.6M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2089	+0.149%	$73K	$4K	3x	as long as short
01 Exchange ENAUSD	+0.0144%	1h	0.2086	−0.012%	$4K	$21	10x	as long as short
dYdX ENA-USD	+0.0167%	1h	0.2088	+0.071%	$138K	$7K	5x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2089	+0.146%	$5.2M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0410%	1h	0.2088	+0.111%	$941	$98	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.400%	$765K	$1.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0604% / S −0.1160%	1h	0.2090	+0.172%	$82K	—	100x	as long as short