Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against HTX−0.222%7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

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

costs, in and out, $10k−$790.795% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.222%, 7d avg −0.137%

Together, before fees+0.024%+$2 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: Bybit is 0.085% cheaper against HTX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2160	0.0100	pay 0.0050% / 4h	3h 20m	$280K	$1.1M	50x
Short	Bybit ENAUSDT	0.2155	0.0100	get 0.0050% / 4h	3h 20m	$89.0M	$187.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now −0.222%Rate

Funding earned: $0
Price spread: −0.222% → −0.137%: −$8.55
Slippage, 4 orders: −$56.5
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$88.05
Costs to cover: 0.795%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Bybit: live order book, 4 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 HTX live order book, 4 min ago	25.55 bp	32.0 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.23 bp	7.8 bp −$8	18.3 bp −$183	57.4 bp −$5,740	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	0.0000%	1h	0.2159	−0.042%	$81K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2159	−0.072%	$102K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.699%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0034%	4h	0.2158	−0.088%	$42K	$23K	10x	as long as short
dYdX ENA-USD	+0.0037%	1h	0.2155	−0.244%	$142K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2159	−0.051%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2159	−0.046%	$715K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2159	−0.066%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2154	−0.266%	$423K	$549K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2154	−0.273%	$133.8M	$443.5M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDTshort	+0.0100%	4h	0.2155	−0.222%	$89.0M	$187.4M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2154	−0.273%	$21.2M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2145	−0.685%	$16K	$411K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2159	−0.051%	$107K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	−0.792%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2157	−0.167%	$11.0M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2154	−0.301%	$45.9M	$44.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2157	−0.167%	$24.8M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2152	−0.361%	$48.8M	$61.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2152	−0.352%	—	$32.6M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2158	−0.088%	$384K	$410K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.722%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2144	−0.736%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2155	−0.236%	$363K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.653%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2159	−0.060%	$186K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2108	−2.421%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2158	−0.097%	$4K	$10K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2160	long leg	$280K	$1.1M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2158	−0.097%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2157	−0.145%	$48K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2159	−0.066%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2147	−0.588%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2160	+0.009%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0231%	1h	0.2160	−0.001%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0320%	1h	0.2153	−0.319%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0334% / S −0.0430%	1h	0.2158	−0.078%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2146	−0.657%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2158	−0.106%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2150	−0.472%	$852K	$1.8M	50x	as long as short
Lighter ENA	+0.0704%	1h	0.2160	−0.028%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0770%	1h	0.2159	−0.060%	$116.6M	$74.2M	10x	as long as short