Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: HTX against gTrade (Gains Network)+0.091%7-day average — · 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−$374as in the Price arb table

costs, in and out, $10k−$3833.833% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.091% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2094	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	15m 42s	$101K	—	150x
Short	HTX ENA-USDT	0.2096	0.0100	get 0.0050% / 4h	1h 15m	$272K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee HTXbpOrdersPrice spread, now +0.091%Rate

Funding earned: $20.28
Price spread: +0.091% → 0.000%: $9.07
Slippage, 4 orders: −$361.34
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$353.99
Costs to cover: 3.833%
Break-even: 129.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 8 min ago; HTX: live order book, 3 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 gTrade (Gains Network) virtual book (oracle venue), 8 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15425.0 bp −$1.54M	doesn't fit
Sell HTX live order book, 3 min ago	20.95 bp	33.4 bp −$33	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	−0.0048%	4h	0.2093	−0.038%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0043%	1h	0.2093	−0.043%	$369K	$450K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2094	+0.005%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2094	long leg	$101K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.414%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2094	+0.021%	$2.6M	$5.5M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2094	+0.010%	$61K	$531K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	−0.119%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2092	−0.088%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2093	−0.057%	$1.5M	$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	0.2093	−0.042%	$405K	$576K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	−0.005%	$129.2M	$455.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2093	−0.048%	$87.0M	$190.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	−0.038%	$20.2M	$111.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	+0.043%	$15K	$396K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2094	+0.010%	$82K	$220K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2095	+0.042%	$88K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2092	−0.072%	$10.5M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2093	−0.024%	$46.4M	$47.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2093	−0.019%	$23.8M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2092	−0.067%	$47.3M	$64.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2093	−0.038%	—	$32.8M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2094	+0.009%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.086%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2095	+0.077%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2095	+0.057%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2094	+0.019%	$177K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2042	−2.474%	$1K	$815K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2093	−0.038%	$4K	$14K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2096	+0.091%	$272K	$1.5M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2092	−0.086%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2093	−0.021%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2097	+0.172%	$5K	$356K	10x	as long as short
01 Exchange ENAUSD	+0.0136%	1h	0.2095	+0.067%	$4K	$432	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0241% / S −0.0413%	1h	0.2093	−0.018%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0328%	1h	0.2092	−0.080%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2093	−0.038%	$5.5M	$8.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2093	−0.027%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0512%	1h	0.2096	+0.115%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2098	+0.196%	$826K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0580%	1h	0.2096	+0.096%	$110.6M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1963%	1h	0.2093	−0.051%	$138K	$15K	5x	as long as short