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

ENA — March 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 — March 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
+151.3%
€10,000 →
€25,134
Win Rate
83.3%
12W / 1L
Trades
13
Sharpe
0.00
Alpha vs B&H
+0.00pp
Risk / Reward
0.00×
B&H Return
+0.00%
Max Drawdown
-6.01%
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
+161.97%
▼ -10.63
Win Rate
85.7%
▼ -2.41
Sharpe
13.63
▼ -13.63
Alpha vs B&H
+177.38pp
▼ -177.38
Max DD
-1.08%
▼ -4.93
Avg DD
-4.39%
▲ +4.39
Risk / Reward
99+×
Trades
14
Open v4.0.1 page →
v4.0 ITZAMNÁ THIS PAGE
Return
+151.34%
Win Rate
83.3%
Sharpe
0.00
Alpha vs B&H
+0.00pp
Max DD
-6.01%
Avg DD
0.00%
Risk / Reward
0.00×
Trades
13
V2.5.8.3
Return
+76.20%
▲ +75.14
Win Rate
89.5%
▼ -6.20
Sharpe
0.00
≈
Alpha vs B&H
+0.00pp
≈
Max DD
-0.88%
▼ -5.13
Avg DD
0.00%
≈
Risk / Reward
0.00×
Trades
19
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 — March 2025 (v4.0 Itzamná) — compounded daily PnL within this period

Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
—
2
—
3
—
4
—
5
—
6
+12.3
7
—
8
+18.5
9
—
10
+13.2
11
+5.3
12
—
13
—
14
—
15
+10.1
16
—
17
+8.2
18
—
19
+7.9
20
—
21
—
22
—
23
—
24
+13.1
25
—
26
+2.2
27
+5.5
28
—
29
—
30
—
31
+1.1
Smart Insights
  • ↑ Exceptional return: +151.3% — compound across the full walk-forward window.
  • ↑ High win rate: 83.3% — 4 in 5 trades close in profit.
  • ↑ Strongest regime: SIDEWAYS — avg +7.49% on 13 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 13 92.3% +7.49% +151.37% 21h

Trade Logv4.2 Theros

All 13 trades executed during this paper trade period.

EntryExitEntry PriceExit PricePnLRegimeDuration
06 Mar 2025 01:00 06 Mar 2025 13:00 $0.35 $0.40 +12.28% SIDEWAYS 13h
07 Mar 2025 02:00 08 Mar 2025 10:00 $0.37 $0.44 +18.54% SIDEWAYS 1.4d
09 Mar 2025 16:00 10 Mar 2025 09:00 $0.41 $0.46 +13.16% SIDEWAYS 18h
11 Mar 2025 00:00 11 Mar 2025 02:00 $0.41 $0.41 +1.09% SIDEWAYS 3h
11 Mar 2025 15:00 11 Mar 2025 18:00 $0.39 $0.41 +4.15% SIDEWAYS 4h
14 Mar 2025 02:00 15 Mar 2025 12:00 $0.34 $0.37 +10.07% SIDEWAYS 1.5d
16 Mar 2025 11:00 17 Mar 2025 18:00 $0.35 $0.38 +8.23% SIDEWAYS 1.3d
18 Mar 2025 13:00 19 Mar 2025 16:00 $0.36 $0.39 +7.91% SIDEWAYS 1.2d
22 Mar 2025 00:00 24 Mar 2025 17:00 $0.35 $0.40 +13.10% SIDEWAYS 2.8d
26 Mar 2025 04:00 26 Mar 2025 06:00 $0.41 $0.43 +2.21% SIDEWAYS 3h
26 Mar 2025 21:00 27 Mar 2025 14:00 $0.41 $0.43 +5.52% SIDEWAYS 18h
30 Mar 2025 09:00 31 Mar 2025 01:00 $0.36 $0.37 +1.59% SIDEWAYS 17h
31 Mar 2025 14:00 31 Mar 2025 18:00 $0.36 $0.36 -0.49% SIDEWAYS 5h

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 →
83.3% Win Rate +151.3% Return -6.0% Max Drawdown Net of Fees