Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h +0.044%

Price spread now: Paradex against 01 Exchange−0.028%55s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange 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 0.028% cheaper against 01 Exchange than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 55 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	01 Exchange ENAUSD	0.2132	0.0096	pay 0.0012% / 1h	18m 41s	$4K	$302	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 01 Exchange. 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 01 ExchangebpFee ParadexbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0.87
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$12.93
Costs to cover: 0.110%
Break-even: 110.7 days

Slippage unknown: 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

01 Exchange 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 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	0.000%	$80K	$1.5M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2131	−0.042%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0015%	1h	0.2132	−0.011%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.394%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0036%	4h	0.2131	−0.056%	$44K	$28K	10x	as long as short
01 Exchange ENAUSDlong	+0.0096%	1h	0.2132	long leg	$4K	$302	10x
Popdex ENAUSDT	+0.0096%	1h	0.2131	−0.038%	$54K	$516K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.063%	$685K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2134	+0.108%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2133	+0.055%	$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	0.2132	−0.005%	$132.0M	$443.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2131	−0.052%	$87.4M	$186.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2131	−0.042%	$20.9M	$107.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2129	−0.145%	$19K	$401K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2132	+0.009%	$79K	$289K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2135	+0.127%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2133	+0.047%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2131	−0.019%	$45.3M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2134	+0.117%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2129	−0.136%	$48.5M	$60.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2133	+0.038%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2134	+0.113%	$382K	$386K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2130	−0.063%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2130	−0.083%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	−0.131%	$352K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2131	−0.038%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2132	−0.014%	$183K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2080	−2.411%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	−0.038%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2135	+0.141%	$275K	$864K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2131	−0.038%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2131	−0.028%	$48K	$110	10x
Aevo ENA-PERP	+0.0104%	1h	0.2131	−0.055%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2129	−0.127%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2132	+0.020%	$1.6M	$4.1M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2133	+0.065%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2130	−0.075%	$51K	—	100x	as long as short
Lighter ENA	+0.0400%	1h	0.2135	+0.155%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2131	−0.015%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0489%	1h	0.2136	+0.183%	$115.4M	$72.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2136	+0.192%	$837K	$1.7M	50x	as long as short