Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.054%

Price spread now: Paradex against Aster−0.230%49s7-day average — · you buy dearer than you sell

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

Long on Aster 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 airdropAster: Stage 5 · Paradex: 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 0.230% cheaper against Aster than usual: you would sell low and buy high, −$23 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Aster ENAUSDT	0.2118	0.0100	pay 0.0050% / 4h	1h 56m	$1.5M	$3.3M	50x
Short	Paradex ENA-USD-PERP	0.2113	0.0100	get 0.0100% / 8h	5h 56m	$47K	$110	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Aster. 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 AsterbpFee ParadexbpOrdersPrice spread, now −0.230%Rate

Funding earned: $0.02
Price spread: −0.230% → 0.000%: −$22.98
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$34.96
Costs to cover: 0.120%
Break-even: 12193.4 days

Slippage unknown: Aster: live order book, 2 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 Aster live order book, 2 min ago	2.36 bp	6.9 bp −$7	17.9 bp −$179	doesn't fit	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
dYdX ENA-USD	0.0000%	1h	0.2117	−0.034%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2114	−0.177%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	−0.171%	$87K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2113	−0.229%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	+0.0028%	4h	0.2113	−0.234%	$44K	$27K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.248%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.290%	$54K	$501K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.236%	$682K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2124	+0.262%	$114.2M	$71.6M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2118	long leg	$1.5M	$3.3M	50x

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2116	−0.087%	$413K	$519K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2121	+0.126%	$130.5M	$428.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2121	+0.149%	$86.8M	$178.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.168%	$20.8M	$104.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2127	+0.413%	$19K	$384K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	−0.196%	$78K	$288K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.408%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	+0.092%	$11.1M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	+0.135%	$45.5M	$41.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	+0.097%	$24.6M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2120	+0.087%	$48.3M	$58.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	+0.149%	—	$32.4M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2129	+0.492%	$3.8M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.486%	$249K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.294%	$361K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2125	+0.323%	$32K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	−0.243%	$182K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.608%	$1K	$842K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	−0.196%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	−0.050%	$276K	$787K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2115	−0.149%	$1.8M	$9.0M	50x	as long as short
Paradex ENA-USD-PERPshort	+0.0100%	8h	0.2113	−0.230%	$47K	$110	10x
Aevo ENA-PERP	+0.0104%	1h	0.2114	−0.196%	$74K	$4K	3x	as long as short
Extended ENA-USD	+0.0128%	1h	0.2119	+0.055%	$1.6M	$4.1M	50x	as long as short
Phoenix ENA	+0.0188%	1h	0.2121	+0.130%	$7K	$298K	10x	as long as short
Backpack ENA_USDC_PERP	+0.0192%	1h	0.2118	−0.017%	$380K	$363K	5x	as long as short
Lighter ENA	+0.0208%	1h	0.2117	−0.054%	$5.5M	$13.6M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2114	−0.195%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2116	−0.115%	$2.7M	$4.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2113	−0.245%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2131	+0.621%	$838K	$1.6M	50x	as long as short