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 −0.011%

Price spread now: Bitget against Paradex−0.141%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Bitget

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: Bitget is 0.141% cheaper against Paradex than usual: you would sell low and buy high, −$14 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	0.2120	0.0100	pay 0.0100% / 8h	4h 23m	$47K	$110	10x
Short	Bitget ENAUSDT	0.2117	0.0100	get 0.0050% / 4h	23m 25s	$48.1M	$57.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.141%Rate

Funding earned: $0
Price spread: −0.141% → 0.000%: −$14.06
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$30.06
Costs to cover: 0.160%
Break-even: 481620.0 days

Slippage unknown: Paradex: no order-book sample; Bitget: live order book, 6 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 Bitget live order book, 6 min ago	0.47 bp	11.9 bp −$12	20.1 bp −$201	doesn't fit	doesn't fit

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
Backpack ENA_USDC_PERP	−0.0190%	1h	0.2121	+0.057%	$366K	$396K	5x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2120	−0.004%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0068%	4h	0.2118	−0.103%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2119	−0.060%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2118	−0.079%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.166%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	−0.065%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2120	+0.015%	$5.2M	$13.5M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	−0.042%	$56K	$477K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2120	long leg	$47K	$110	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2120	+0.013%	$654K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2123	+0.147%	$115.6M	$75.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2121	+0.032%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	−0.085%	$405K	$516K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.063%	$129.0M	$416.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	−0.075%	$85.6M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.023%	$20.9M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2115	−0.207%	$18K	$316K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	+0.053%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.160%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	−0.051%	$11.1M	$22.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.027%	$46.2M	$41.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2121	+0.053%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDTshort	+0.0100%	4h	0.2117	−0.141%	$48.1M	$57.5M	75x
BingX ENA-USDT	+0.0100%	4h	0.2119	−0.051%	—	$32.3M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2116	−0.166%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2117	−0.158%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2114	−0.259%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.089%	$20K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	+0.001%	$183K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2067	−2.518%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	−0.042%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.048%	$274K	$790K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2120	+0.006%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2119	−0.058%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	−0.060%	$74K	$4K	3x	as long as short
dYdX ENA-USD	+0.0125%	1h	0.2117	−0.154%	$140K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2120	+0.017%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0291% / S −0.0213%	1h	0.2118	−0.070%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2118	−0.103%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.073%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.331%	$869K	$1.7M	50x	as long as short