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

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

v4.0 (Itzamná) • 13 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 — February 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
+112.1%
€10,000 →
€21,211
Win Rate
92.9%
12W / 1L
Trades
13
Sharpe
0.00
Alpha vs B&H
+0.00pp
Risk / Reward
0.00×
B&H Return
+0.00%
Max Drawdown
-10.34%
Avg Drawdown
0.00%
Wins / Losses
12W / 1L
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
+110.65%
▲ +1.46
Win Rate
89.5%
▲ +3.43
Sharpe
11.87
▼ -11.87
Alpha vs B&H
+149.84pp
▼ -149.84
Max DD
-3.78%
▼ -6.56
Avg DD
-6.66%
▲ +6.66
Risk / Reward
29.30×
Trades
19
Open v4.0.1 page →
v4.0 ITZAMNÁ THIS PAGE
Return
+112.11%
Win Rate
92.9%
Sharpe
0.00
Alpha vs B&H
+0.00pp
Max DD
-10.34%
Avg DD
0.00%
Risk / Reward
0.00×
Trades
13
V2.5.8.3
Return
+39.14%
▲ +72.97
Win Rate
80.0%
▲ +12.90
Sharpe
0.00
≈
Alpha vs B&H
+0.00pp
≈
Max DD
-1.19%
▼ -9.15
Avg DD
0.00%
≈
Risk / Reward
0.00×
Trades
20
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 — February 2025 (v4.0 Itzamná) — compounded daily PnL within this period

Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
—
2
—
3
—
4
+13.5
5
—
6
—
7
+13.5
8
—
9
+9.7
10
+2.4
11
—
12
—
13
+9.7
14
—
15
+2.3
16
+0.4
17
+5.2
18
—
19
+3.0
20
—
21
—
22
+18.1
23
+1.1
24
—
25
—
26
—
27
+14.4
28
-2.5
Smart Insights
  • ↑ Exceptional return: +112.1% — compound across the full walk-forward window.
  • ↑ High win rate: 92.9% — 4 in 5 trades close in profit.
  • ↑ Strongest regime: SIDEWAYS — avg +6.44% on 12 trades, WR 92%.

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
SIDEWAYS 12 91.7% +6.44% +107.30% 23h
BUBBLE 1 100.0% +13.53% +13.53% 1.3d

Trade Logv4.2 Theros

All 13 trades executed during this paper trade period.

EntryExitEntry PriceExit PricePnLRegimeDuration
02 Feb 2025 18:00 04 Feb 2025 01:00 $0.59 $0.67 +13.53% BUBBLE 1.3d
07 Feb 2025 00:00 07 Feb 2025 14:00 $0.48 $0.55 +13.48% SIDEWAYS 15h
08 Feb 2025 03:00 09 Feb 2025 01:00 $0.48 $0.53 +9.72% SIDEWAYS 23h
09 Feb 2025 18:00 10 Feb 2025 18:00 $0.48 $0.49 +2.41% SIDEWAYS 1d
12 Feb 2025 13:00 13 Feb 2025 15:00 $0.41 $0.46 +9.75% SIDEWAYS 1.1d
14 Feb 2025 08:00 15 Feb 2025 00:00 $0.47 $0.48 +2.28% SIDEWAYS 17h
16 Feb 2025 03:00 16 Feb 2025 05:00 $0.45 $0.46 +0.41% SIDEWAYS 3h
16 Feb 2025 21:00 17 Feb 2025 14:00 $0.45 $0.48 +5.16% SIDEWAYS 18h
18 Feb 2025 16:00 19 Feb 2025 08:00 $0.41 $0.42 +2.97% SIDEWAYS 17h
19 Feb 2025 22:00 22 Feb 2025 01:00 $0.40 $0.47 +18.12% SIDEWAYS 2.2d
22 Feb 2025 22:00 23 Feb 2025 13:00 $0.45 $0.46 +1.14% SIDEWAYS 16h
25 Feb 2025 00:00 27 Feb 2025 04:00 $0.37 $0.42 +14.38% SIDEWAYS 2.2d
27 Feb 2025 21:00 28 Feb 2025 00:00 $0.42 $0.41 -2.52% SIDEWAYS 4h

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.

Get Started → ENA Signals → View Plans →
92.9% Win Rate +112.1% Return -10.3% Max Drawdown Net of Fees