Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: HTX against Bybit+0.326%7-day average +0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$840.840% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.201%−$20 · spread now +0.326%, 7d avg +0.133%

Together, before fees−0.134%−$13 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 0.193% dearer against Bybit than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.133%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2118	0.0100	pay 0.0050% / 4h	1h 33m	$89.7M	$186.4M	50x
Short	HTX ENA-USDT	0.2125	0.0100	get 0.0050% / 4h	1h 33m	$266K	$820K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. 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 BybitbpFee HTXbpOrdersPrice spread, now +0.326%Rate

Funding earned: $0
Price spread: +0.326% → +0.133%: $19.31
Slippage, 4 orders: −$61.03
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$64.72
Costs to cover: 0.840%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; HTX: live order book, 35 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 Bybit live order book, 6 min ago	0.23 bp	10.1 bp −$10	16.9 bp −$169	56.0 bp −$5,602	doesn't fit
Sell HTX live order book, 35 min ago	20.38 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit

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	−0.0125%	4h	0.2119	+0.033%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2121	+0.113%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2120	+0.061%	$55K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2118	−0.036%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.241%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2121	+0.127%	$53K	$480K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	+0.097%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	+0.123%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2122	+0.188%	$114.9M	$75.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	+0.088%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2121	+0.123%	$400K	$539K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2120	+0.088%	$128.1M	$429.6M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2118	long leg	$89.7M	$186.4M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2120	+0.080%	$21.1M	$108.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.250%	$20K	$336K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	+0.127%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2138	+0.930%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2120	+0.090%	$12.4M	$26.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2120	+0.080%	$37.5M	$42.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	+0.151%	$24.6M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.024%	$48.0M	$60.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2119	+0.057%	—	$31.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	+0.438%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2143	+1.186%	$262K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	+1.260%	$366K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2145	+1.260%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	+0.137%	$186K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2069	−2.308%	$1K	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	+0.080%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2125	+0.326%	$266K	$820K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2121	+0.127%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2119	+0.018%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.038%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2119	+0.038%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0136%	1h	0.2123	+0.227%	$5.0M	$13.4M	10x	as long as short
dYdX ENA-USD	+0.0221%	1h	0.2119	+0.056%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2125	+0.318%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	+0.094%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	+0.083%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0445%	1h	0.2121	+0.137%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2122	+0.165%	$875K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0653%	1h	0.2120	+0.090%	$390K	$435K	5x	as long as short