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 0.000%

Price spread now: HTX against GRVT−0.746%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on GRVT Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.940%+$94 · spread now −0.746%, 7d avg +0.073%

Together, before fees+0.942%+ Points / potential airdropGRVT: Active · farm board+$94 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 0.819% cheaper against GRVT than usual: you would sell low and buy high, −$82 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ENA_USDT_Perp	0.2145	0.0100	pay 0.0050% / 4h	1h 34m	$366K	$5.1M	10x
Short	HTX ENA-USDT	0.2129	0.0100	get 0.0050% / 4h	1h 34m	$267K	$828K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GRVT. 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 GRVTbpFee HTXbpOrdersPrice spread, now −0.746%Rate

Funding earned: $0
Price spread: −0.746% → +0.073%: −$81.89
Slippage, 4 orders: −$65.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$168.61
Costs to cover: 0.867%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; HTX: live order book, 34 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 GRVT live order book, 5 min ago	2.34 bp	12.5 bp −$13	65.5 bp −$655	doesn't fit	doesn't fit
Sell HTX live order book, 34 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
Deribit ENA_USDC-PERPETUAL	−0.0174%	1h	0.2123	−1.025%	$55K	$1.1M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0124%	4h	0.2122	−1.058%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2123	−1.030%	$4K	$277	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2128	−0.770%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.007%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2123	−1.025%	$54K	$483K	50x	as long as short
Gate ENA_USDT	+0.0096%	4h	0.2121	−1.128%	$12.4M	$26.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2121	−1.126%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	−0.889%	$562K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2122	−1.070%	$114.9M	$75.9M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2123	−1.021%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2121	−1.118%	$400K	$539K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2123	−1.040%	$128.3M	$429.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−1.328%	$88.6M	$186.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	−1.240%	$21.2M	$108.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	−0.997%	$20K	$336K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	−1.025%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2138	−0.326%	$93K	$511	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−1.105%	$37.3M	$42.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	−1.095%	$24.5M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2119	−1.188%	$48.0M	$60.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	−1.105%	—	$31.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	−0.812%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2143	−0.073%	$262K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perplong	+0.0100%	4h	0.2145	long leg	$366K	$5.1M	10x
ApeX Omni ENAUSDT	+0.0100%	1h	0.2145	0.000%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	−0.816%	$187K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−3.324%	$1K	$901K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2123	−1.025%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2129	−0.746%	$267K	$828K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2124	−0.979%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−1.160%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	−1.002%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2142	−0.158%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0112%	1h	0.2123	−1.011%	$5.0M	$13.4M	10x	as long as short
dYdX ENA-USD	+0.0210%	1h	0.2122	−1.083%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2125	−0.931%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−1.049%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−1.076%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0444%	1h	0.2123	−1.029%	$2.6M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2130	−0.722%	$879K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0664%	1h	0.2126	−0.890%	$392K	$433K	5x	as long as short