Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0334%/8h= +36.6% APRpaid last 24h −0.010%

Price spread now: GMX against HTX−0.046%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on GMX

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

Funding pays, the price is against you. GMX is 0.046% cheaper against HTX than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2124	0.0100	pay 0.0050% / 4h	57m 08s	$275K	$1.5M	50x
Short	GMX ENA/USD [ETH-USDC]	0.2123	L +0.0250% / S −0.0434%	get 0.0054% / 1h	57m 08s	$38K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $70.13
Price spread: −0.046% → 0.000%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $41.56
Costs to cover: 0.240%
Break-even: 2.9 days

Slippage unknown: HTX: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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, 2 min ago	16.24 bp	42.0 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0035%	4h	0.2121	−0.146%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2122	−0.099%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2123	−0.036%	$106K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0014%	1h	0.2123	−0.075%	$375K	$447K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.038%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2122	−0.104%	$63K	$531K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2123	−0.059%	$682K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2122	−0.094%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2122	−0.100%	$410K	$573K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2120	−0.195%	$131.1M	$455.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.221%	$89.1M	$190.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.221%	$20.5M	$112.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	−0.320%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2123	−0.056%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.122%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	−0.099%	$10.8M	$21.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	−0.104%	$46.7M	$45.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	−0.033%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	−0.146%	$48.1M	$64.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2122	−0.127%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	−0.425%	$3.8M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2118	−0.308%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.340%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.292%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	−0.028%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.476%	$1K	$820K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	−0.104%	$4K	$14K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2124	long leg	$275K	$1.5M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2122	−0.104%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2122	−0.093%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2122	−0.121%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2120	−0.179%	$5K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0160%	1h	0.2124	−0.014%	$4K	$312	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2123	−0.069%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0250% / S −0.0434%	1h	0.2123	−0.046%	$38K	—	100x
BloFin ENA-USDT	+0.0340%	4h	0.2123	−0.042%	$5.6M	$8.1M	75x	as long as short
Extended ENA-USD	+0.0360%	1h	0.2121	−0.138%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.074%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0513%	1h	0.2125	+0.038%	$112.4M	$78.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2125	+0.033%	$839K	$2.1M	50x	as long as short
Lighter ENA	+0.0624%	1h	0.2124	+0.005%	$5.7M	$12.8M	10x	as long as short
dYdX ENA-USD	+0.1936%	1h	0.2122	−0.109%	$140K	$15K	5x	as long as short