Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against HTX−0.005%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$740.737% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 3 days (all we have)−1.019%−$102 · spread now −0.005%, 7d avg −0.121%

Together, before fees−0.987%+ Points / potential airdropExtended: Active · farm board−$99 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: Extended is 0.116% dearer against HTX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2102	0.0100	pay 0.0050% / 4h	2h 53m	$273K	$1.6M	50x
Short	Extended ENA-USD	0.2102	0.0104	get 0.0013% / 1h	53m 41s	$1.6M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0.84
Price spread: −0.005% → −0.121%: $11.6
Slippage, 4 orders: −$56.68
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$61.25
Costs to cover: 0.737%
Break-even: 517.4 days

Slippage from HTX: live order book, 5 min ago; Extended: 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 HTX live order book, 5 min ago	20.09 bp	26.6 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.24 bp	5.0 bp −$5	13.0 bp −$130	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
Backpack ENA_USDC_PERP	−0.0522%	1h	0.2103	+0.043%	$362K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0096%	4h	0.2100	−0.071%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0080%	1h	0.2102	0.000%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0028%	4h	0.2102	−0.010%	$10.4M	$21.5M	50x	as long as short
Phoenix ENA	0.0000%	1h	0.2107	+0.233%	$5K	$394K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2102	−0.005%	$98K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2102	−0.009%	$97K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.018%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2098	−0.190%	$59K	$546K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.163%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2100	−0.107%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2103	+0.048%	$1.5M	$3.5M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	−0.119%	$403K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2100	−0.077%	$130.2M	$473.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2101	−0.033%	$88.4M	$195.6M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2103	+0.029%	$20.2M	$116.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2102	−0.024%	$19K	$445K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	−0.095%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2108	+0.266%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2102	+0.024%	$45.4M	$48.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2103	+0.038%	$24.3M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2101	−0.057%	$47.6M	$67.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2103	+0.043%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2107	+0.230%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	+0.169%	$252K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	+0.166%	$362K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2105	+0.143%	$32K	$714K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	−0.043%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.402%	$1K	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2101	−0.048%	$4K	$14K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2102	long leg	$273K	$1.6M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2102	0.000%	$1.8M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2103	+0.048%	$2.7M	$5.9M	50x	as long as short
Extended ENA-USDshort	+0.0104%	1h	0.2102	−0.005%	$1.6M	$4.1M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2100	−0.071%	$77K	$11K	3x	as long as short
Lighter ENA	+0.0128%	1h	0.2104	+0.076%	$5.7M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0210% / S −0.0158%	1h	0.2102	−0.004%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0215%	1h	0.2105	+0.157%	$111.8M	$80.7M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2106	+0.190%	$5.6M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.165%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2104	+0.076%	$804K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.6794%	1h	0.2103	+0.040%	$139K	$12K	5x	as long as short