Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Arcus+0.131%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$970.965% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.131%, 7d avg +0.048%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.083% dearer against Arcus than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2132	0.0100	pay 0.0013% / 1h	23m 29s	$79K	$288K	10x
Short	HTX ENA-USDT	0.2135	0.0100	get 0.0050% / 4h	2h 23m	$275K	$875K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now +0.131%Rate

Funding earned: $0
Price spread: +0.131% → +0.048%: $8.31
Slippage, 4 orders: −$80.03
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$88.23
Costs to cover: 0.965%
Break-even: never at this rate

Slippage from Arcus: live order book, 45 min ago; HTX: live order book, 5 min ago.

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 Arcus live order book, 45 min ago	6.91 bp	13.6 bp −$14	25.2 bp −$252	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	18.62 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit

ENA on 41 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2136	+0.197%	$80K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2134	+0.087%	$92K	—	150x	as long as short
dYdX ENA-USD	+0.0014%	1h	0.2134	+0.103%	$141K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.403%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2135	+0.150%	$44K	$28K	10x	as long as short
01 Exchange ENAUSD	+0.0096%	1h	0.2132	+0.019%	$4K	$302	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2130	−0.094%	$55K	$519K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.110%	$687K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2135	+0.136%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2134	+0.082%	$418K	$544K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2131	−0.038%	$131.9M	$445.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2130	−0.108%	$87.4M	$187.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2129	−0.122%	$20.9M	$107.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2135	+0.155%	$19K	$413K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2132	long leg	$79K	$288K	10x
Bulk ENA-USD	+0.0100%	1h	0.2135	+0.117%	$94K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2131	−0.042%	$11.0M	$21.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2132	−0.019%	$45.4M	$44.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2132	+0.023%	$24.7M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2127	−0.225%	$48.4M	$60.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2130	−0.084%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2137	+0.239%	$382K	$392K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	+0.075%	$3.8M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2145	+0.588%	$247K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2132	+0.008%	$354K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2132	0.000%	$32K	$656K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	−0.103%	$183K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2081	−2.416%	$1K	$854K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2136	+0.188%	$4K	$10K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2135	+0.131%	$275K	$875K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2136	+0.188%	$1.9M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	−0.053%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2135	+0.164%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2138	+0.267%	$7K	$351K	10x	as long as short
Extended ENA-USD	+0.0240%	1h	0.2130	−0.102%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0250%	1h	0.2137	+0.248%	$2.7M	$4.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0251% / S −0.0206%	1h	0.2134	+0.084%	$51K	—	100x	as long as short
Lighter ENA	+0.0400%	1h	0.2137	+0.225%	$5.5M	$13.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2129	−0.152%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0510%	1h	0.2133	+0.038%	$115.4M	$72.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2142	+0.450%	$839K	$1.8M	50x	as long as short