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 −0.006%

Price spread now: Gate against HTX−0.260%7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.260%, 7d avg −0.112%

Together, before fees+0.155%+$15 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: Gate is 0.148% cheaper against HTX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2117	0.0100	pay 0.0050% / 4h	1h 08m	$266K	$816K	50x
Short	Gate ENA_USDT	0.2112	0.0100	get 0.0050% / 4h	1h 08m	$12.5M	$26.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.260%Rate

Funding earned: $0
Price spread: −0.260% → −0.112%: −$14.83
Slippage, 4 orders: −$69.68
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.51
Costs to cover: 0.967%
Break-even: never at this rate

Slippage from HTX: live order book, 61 min ago; Gate: live order book, 6 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, 61 min ago	20.38 bp	37.5 bp −$37	301.6 bp −$3,016	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.83 bp	17.2 bp −$17	33.3 bp −$333	53.7 bp −$5,371	90.7 bp −$45.3K

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	−0.0101%	4h	0.2112	−0.260%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2113	−0.203%	$54K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2112	−0.230%	$81K	—	150x	as long as short
01 Exchange ENAUSD	+0.0008%	1h	0.2112	−0.222%	$4K	$277	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.293%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.246%	$55K	$481K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.236%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	−0.215%	$559K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2113	−0.208%	$114.4M	$75.3M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2113	−0.216%	$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	0.2112	−0.227%	$400K	$542K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	−0.236%	$128.0M	$426.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2110	−0.326%	$90.5M	$186.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2112	−0.246%	$21.1M	$107.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2111	−0.307%	$33K	$323K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2113	−0.198%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	+0.223%	$93K	$511	10x	as long as short
Gate ENA_USDTshort	+0.0100%	4h	0.2112	−0.260%	$12.5M	$26.7M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2112	−0.241%	$38.2M	$43.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2113	−0.198%	$24.7M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2110	−0.345%	$47.8M	$59.7M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2111	−0.283%	—	$31.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2119	+0.083%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2122	+0.234%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	+0.221%	$354K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	+0.227%	$19K	$647K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	−0.217%	$184K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2062	−2.598%	$1K	$901K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	−0.246%	$4K	$7K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2117	long leg	$266K	$816K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2112	−0.246%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.290%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2113	−0.217%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2120	+0.123%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0152%	1h	0.2114	−0.175%	$5.0M	$13.7M	10x	as long as short
dYdX ENA-USD	+0.0244%	1h	0.2112	−0.259%	$139K	$16K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0267%	1h	0.2114	−0.142%	$392K	$437K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0753%	1h	0.2113	−0.214%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2111	−0.298%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2112	−0.244%	$1K	—	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0446%	1h	0.2114	−0.156%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.864%	$881K	$1.8M	50x	as long as short