Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Gate against Paradex+0.084%45s7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Gate

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: Gate is 0.084% dearer against Paradex than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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	Paradex ENA-USD-PERP	0.2099	0.0100	pay 0.0100% / 8h	20m 55s	$47K	$110	10x
Short	Gate ENA_USDT	0.2101	0.0100	get 0.0050% / 4h	20m 55s	$12.7M	$27.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.084%Rate

Funding earned: $0.06
Price spread: +0.084% → 0.000%: $8.38
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$10.56
Costs to cover: 0.190%
Break-even: 1322.6 days

Slippage unknown: Paradex: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	3.10 bp	17.8 bp −$18	34.8 bp −$348	53.2 bp −$5,321	89.6 bp −$44.8K

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	−0.0089%	4h	0.2099	−0.011%	$44K	$17K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	+0.046%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2099	+0.020%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0024%	1h	0.2100	+0.070%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.160%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2101	+0.112%	$5.0M	$13.9M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.002%	$52K	$484K	50x	as long as short
Paradex ENA-USD-PERPlong	+0.0100%	8h	0.2099	long leg	$47K	$110	10x
Nado ENA-PERP	+0.0100%	1h	0.2099	+0.015%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2101	+0.093%	$113.9M	$74.7M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.079%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	+0.013%	$405K	$563K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2101	+0.071%	$127.9M	$425.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2099	+0.012%	$90.1M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2101	+0.093%	$21.0M	$106.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.288%	$33K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	+0.046%	$78K	$283K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	−0.197%	$91K	$511	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2101	+0.084%	$12.7M	$27.2M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2100	+0.055%	$39.1M	$43.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	+0.093%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2098	−0.045%	$47.6M	$59.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2100	+0.065%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2101	+0.079%	$407K	$492K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2093	−0.304%	$3.0M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2095	−0.169%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	−0.193%	$351K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2099	−0.002%	$19K	$646K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2099	+0.022%	$181K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.379%	$1K	$908K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2099	−0.002%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2101	+0.098%	$264K	$814K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	−0.002%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2099	−0.005%	$1.6M	$4.4M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	+0.075%	$74K	$4K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0149%	1h	0.2101	+0.086%	$2.6M	$4.4M	50x	as long as short
Phoenix ENA	+0.0190%	1h	0.2094	−0.221%	$13K	$273K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0754%	1h	0.2099	+0.014%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2099	−0.011%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.004%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2098	−0.054%	$867K	$1.8M	50x	as long as short
dYdX ENA-USD	+0.1034%	1h	0.2097	−0.121%	$138K	$16K	5x	as long as short