Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Polymarket Perps+0.160%7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps 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 0.160% dearer against Polymarket Perps than usual: you sell high and buy low, +$16 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	Polymarket Perps ENA-USD	0.2128	0.0100	pay 0.0013% / 1h	18m 36s	$183K	$2.4M	10x
Short	Paradex ENA-USD-PERP	0.2131	0.0100	get 0.0100% / 8h	6h 18m	$48K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Polymarket Perps. 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 Polymarket PerpsbpFee ParadexbpOrdersPrice spread, now +0.160%Rate

Funding earned: $0.03
Price spread: +0.160% → 0.000%: $15.99
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: $4.03
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Polymarket Perps: 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 Polymarket Perps live order book, 5 min ago	2.58 bp	6.6 bp −$7	9.4 bp −$94	12908.7 bp −$1.29M	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 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2132	+0.188%	$80K	$1.5M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2131	+0.146%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0015%	1h	0.2132	+0.177%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.207%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0036%	4h	0.2131	+0.132%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2127	−0.019%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2127	−0.038%	$54K	$514K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	−0.066%	$684K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2133	+0.241%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2133	+0.243%	$417K	$543K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2127	−0.038%	$131.7M	$442.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2127	−0.056%	$87.3M	$186.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2128	0.000%	$20.9M	$107.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	+0.042%	$19K	$401K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2129	+0.056%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2135	+0.315%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2132	+0.188%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	+0.169%	$45.3M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2134	+0.305%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	−0.080%	$48.4M	$60.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2129	+0.056%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2134	+0.301%	$382K	$386K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2130	+0.125%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	+0.105%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.056%	$352K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2131	+0.150%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2128	long leg	$183K	$2.4M	10x
SunX ENA-USDT	+0.0100%	4h	0.2080	−2.228%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	+0.150%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	+0.329%	$275K	$864K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2131	+0.150%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2131	+0.160%	$48K	$110	10x
Aevo ENA-PERP	+0.0104%	1h	0.2131	+0.133%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2129	+0.061%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2129	+0.047%	$1.6M	$4.1M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2133	+0.253%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2130	+0.113%	$51K	—	100x	as long as short
Lighter ENA	+0.0400%	1h	0.2135	+0.343%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	−0.019%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0489%	1h	0.2136	+0.371%	$115.4M	$72.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2136	+0.381%	$837K	$1.7M	50x	as long as short