Paper Trades / ENA / ENA — January 2025 (v4.0 Itzamná)
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ENA Ethena Paper Trade

ENA — January 2025 (v4.0 Itzamná) — Simulated live trading results using the v4.0 (Itzamná) model.

v4.0 (Itzamná) • 19 Trades • Completed
✓ Walk-forward validated ✓ Backtest = Live (bit-identical) ✓ Net of fees (0.15% / 0.25%) ✓ Forward-look-bias audited

Ethena (ENA) is the governance token of the Ethena protocol, which issues the synthetic-dollar stablecoin USDe backed by delta-hedged ETH positions. Listed via Binance Launchpool in April 2024 with roughly one-and-a-half cycles of history. Price responds to USDe supply growth, funding-rate dynamics, and stablecoin-narrative cycles.

Performance Monthly Calendar Day Grid Regimes Trade Log FAQ ENA Signals →

ENA — January 2025 (v4.0 Itzamná) Performancev4.2 Theros

Ethena (ENA) — clean monthly entry, no carry-over from previous months. Net of trading fees (Bitvavo 0.15% + 0.25%).

Monthly Return
+120.7%
€10,000 →
€22,069
Win Rate
72.8%
14W / 5L
Trades
19
Sharpe
0.00
Alpha vs B&H
+0.00pp
Risk / Reward
0.00×
B&H Return
+0.00%
Max Drawdown
-11.22%
Avg Drawdown
0.00%
Wins / Losses
14W / 5L
Model
v4.0 (Itzamná)
Full Backtest
View →

Side-by-side: model versions

Same coin, same period, same data window — different model. All walk-forward validated. v4.0.1 (Pythia) is the current production model; v4.0 (Itzamná) confirmed the statistical edge across 46 coins; v2.5 is the legacy baseline.

v4.0.1 PYTHIA
Return
+151.48%
▼ -30.79
Win Rate
71.4%
▲ +1.37
Sharpe
11.69
▼ -11.69
Alpha vs B&H
+191.05pp
▼ -191.05
Max DD
-5.12%
▼ -6.10
Avg DD
-8.57%
▲ +8.57
Risk / Reward
29.56×
Trades
21
Open v4.0.1 page →
v4.0 ITZAMNÁ THIS PAGE
Return
+120.69%
Win Rate
72.8%
Sharpe
0.00
Alpha vs B&H
+0.00pp
Max DD
-11.22%
Avg DD
0.00%
Risk / Reward
0.00×
Trades
19
V2.5.8.3
Return
+71.73%
▲ +48.96
Win Rate
83.3%
▼ -10.50
Sharpe
0.00
≈
Alpha vs B&H
+0.00pp
≈
Max DD
-4.02%
▼ -7.20
Avg DD
0.00%
≈
Risk / Reward
0.00×
Trades
24
Open page →

Δ-arrows on the counterpart cards show this page minus that version. Higher return / WR = better; smaller (less negative) Max DD = better.

ENA

ENA Monthly Returns (v4.0 Itzamná)

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year Σ
2025 +151.5%
21t
 		+110.7%
19t
 		+162.0%
14t
 		+94.5%
11t
 		+187.0%
14t
 		+71.0%
15t
 		+341.9%
15t
 		+102.8%
13t
—
—
—
—
 +118,629.0%

All months for ENA under this model. Click a cell to drill into that month's trade log. Color intensity = magnitude.

Day-by-day — ENA — January 2025 (v4.0 Itzamná) — compounded daily PnL within this period

Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
—
2
—
3
—
4
—
5
-1.8
6
—
7
—
8
—
9
+8.0
10
-0.4
11
-0.1
12
—
13
-4.7
14
—
15
—
16
+17.8
17
—
18
+10.9
19
+5.7
20
+11.7
21
—
22
+3.6
23
-1.0
24
+8.8
25
—
26
+0.8
27
—
28
+1.8
29
+5.2
30
+13.6
31
+6.5
Smart Insights
  • ↑ Exceptional return: +120.7% — compound across the full walk-forward window.
  • ↑ Healthy win rate: 72.8%.
  • ↑ Strongest regime: BUBBLE — avg +4.58% on 16 trades, WR 81%.

Per-regime Breakdownv4.2 Theros

How the model performs across the 4 market regimes detected by Omniscius.

Regime Trades Win Rate Avg PnL Compounded Return Avg Hold
BUBBLE 16 81.3% +4.58% +101.61% 13h
BULL 3 33.3% +4.36% +12.24% 1.1d

Trade Logv4.2 Theros

All 19 trades executed during this paper trade period.

EntryExitEntry PriceExit PricePnLRegimeDuration
05 Jan 2025 02:00 05 Jan 2025 08:00 $1.21 $1.20 -1.76% BUBBLE 7h
08 Jan 2025 13:00 09 Jan 2025 01:00 $0.96 $0.97 +1.31% BUBBLE 13h
09 Jan 2025 14:00 09 Jan 2025 16:00 $0.89 $0.95 +6.59% BUBBLE 3h
10 Jan 2025 05:00 10 Jan 2025 08:00 $0.94 $0.94 -0.39% BUBBLE 4h
11 Jan 2025 01:00 11 Jan 2025 16:00 $0.89 $0.90 -0.07% BULL 16h
12 Jan 2025 22:00 13 Jan 2025 04:00 $0.87 $0.83 -4.68% BULL 7h
13 Jan 2025 17:00 16 Jan 2025 01:00 $0.78 $0.92 +17.83% BULL 2.4d
16 Jan 2025 14:00 18 Jan 2025 00:00 $0.89 $0.98 +10.11% BUBBLE 1.5d
18 Jan 2025 19:00 18 Jan 2025 23:00 $0.87 $0.88 +0.76% BUBBLE 5h
19 Jan 2025 09:00 19 Jan 2025 15:00 $0.86 $0.91 +5.74% BUBBLE 7h
20 Jan 2025 04:00 20 Jan 2025 19:00 $0.82 $0.93 +11.69% BUBBLE 16h
21 Jan 2025 13:00 22 Jan 2025 01:00 $0.90 $0.93 +3.55% BUBBLE 13h
23 Jan 2025 02:00 23 Jan 2025 06:00 $0.84 $0.84 -1.00% BUBBLE 5h
23 Jan 2025 19:00 24 Jan 2025 15:00 $0.82 $0.89 +8.78% BUBBLE 21h
25 Jan 2025 04:00 26 Jan 2025 01:00 $0.84 $0.85 +0.85% BUBBLE 22h
27 Jan 2025 07:00 28 Jan 2025 01:00 $0.72 $0.74 +1.75% BUBBLE 19h
28 Jan 2025 22:00 29 Jan 2025 08:00 $0.66 $0.70 +5.21% BUBBLE 11h
30 Jan 2025 00:00 30 Jan 2025 16:00 $0.69 $0.78 +13.55% BUBBLE 17h
31 Jan 2025 05:00 31 Jan 2025 14:00 $0.74 $0.79 +6.51% BUBBLE 10h

Frequently Asked Questions

What is a paper trade?

A paper trade simulates real signal execution without real money. Each month starts fresh with a clean €10,000 allocation — no carry-over from previous months. This shows exactly what would have happened if you started following signals on day one of that month. View live ENA signals →

Are trading fees included?

Yes. All results are net of trading fees based on Bitvavo rates (0.15% entry + 0.25% exit). No slippage is applied. Trading via Bitget (0.1%/0.1%) would improve returns.

How does this relate to the backtest?

Paper trades use the same model and signals as the full backtest. The difference: backtests cover years of data across multiple market cycles, while paper trades show month-by-month performance in recent market conditions. Together they provide a complete picture.

Is the model retrained during the month?

Yes. The Omniscius model is retrained bi-weekly, which means paper trade results reflect the exact same model updates that live subscribers receive. This is not a static backtest — it is a living simulation. Learn about Omniscius →

Start Trading Ethena Smarter

These paper trade results show what our model delivers. Get real-time ENA signals with entry, stop-loss, and take-profit on every trade.

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72.8% Win Rate +120.7% Return -11.2% Max Drawdown Net of Fees