Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against SoDEX+0.089%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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 0.089% dearer against SoDEX than usual: you sell high and buy low, +$9 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	SoDEX ENA-USD	0.2105	0.0100	pay 0.0013% / 1h	14m 58s	$4K	$7K	10x
Short	Paradex ENA-USD-PERP	0.2107	0.0100	get 0.0100% / 8h	3h 14m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SoDEX. 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 SoDEXbpFee ParadexbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → 0.000%: $8.93
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$3.07
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; 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 SoDEX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

SoDEX and 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	−0.0121%	4h	0.2104	−0.029%	$44K	$26K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0074%	1h	0.2104	−0.024%	$359K	$400K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2105	+0.010%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2106	+0.051%	$82K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2106	+0.048%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.874%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2106	+0.048%	$56K	$465K	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2107	+0.089%	$47K	$110	10x
Nado ENA-PERP	+0.0100%	1h	0.2107	+0.078%	$654K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	−0.039%	$1.5M	$3.2M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2107	+0.111%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2103	−0.116%	$127.4M	$413.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2102	−0.124%	$85.0M	$174.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2103	−0.090%	$20.9M	$103.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2104	−0.067%	$22K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	+0.095%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	−0.240%	$92K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2103	−0.109%	$11.2M	$22.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2103	−0.114%	$45.5M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	−0.043%	$24.8M	$15.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2101	−0.181%	$47.7M	$57.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2104	−0.071%	—	$31.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2106	+0.037%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2108	+0.138%	$242K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.151%	$349K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2110	+0.238%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2107	+0.081%	$189K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2054	−2.404%	$1K	$854K	20x	as long as short
SoDEX ENA-USDlong	+0.0100%	1h	0.2105	long leg	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2111	+0.295%	$273K	$789K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2106	+0.048%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2102	−0.130%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2105	0.000%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2103	−0.086%	$8K	$274K	10x	as long as short
Hyperliquid ENA	+0.0134%	1h	0.2105	−0.014%	$114.4M	$74.1M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0173%	1h	0.2106	+0.066%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0176%	1h	0.2107	+0.090%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2106	+0.041%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	+0.033%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2105	0.000%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2109	+0.185%	$863K	$1.7M	50x	as long as short
dYdX ENA-USD	+0.1101%	1h	0.2107	+0.077%	$139K	$15K	5x	as long as short