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 −0.001%

Price spread now: OKX against HTX−0.137%7-day average −0.097% · 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−$96as in the Price arb table

costs, in and out, $10k−$920.916% of the position

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now −0.137%, 7d avg −0.097%

Together, before fees−0.140%−$14 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: OKX is 0.040% cheaper against HTX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2122	0.0100	pay 0.0050% / 4h	2h 23m	$268K	$796K	50x
Short	OKX ENA-USDT-SWAP	0.2119	0.0100	get 0.0050% / 4h	2h 23m	$21.2M	$104.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.137%Rate

Funding earned: $0
Price spread: −0.137% → −0.097%: −$3.96
Slippage, 4 orders: −$69.58
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.54
Costs to cover: 0.916%
Break-even: never at this rate

Slippage from HTX: live order book, 50 min ago; OKX: 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, 50 min ago	25.82 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.24 bp	10.0 bp −$10	19.5 bp −$195	99.2 bp −$9,918	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
Orderly PERP_ENA_USDC	−0.0140%	4h	0.2120	−0.108%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	−0.052%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2119	−0.122%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.066%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2122	−0.009%	$4K	$277	10x	as long as short
Gate ENA_USDT	+0.0050%	4h	0.2118	−0.198%	$11.2M	$23.8M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2121	−0.047%	$58K	$467K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2118	−0.171%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2120	−0.092%	$657K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2121	−0.057%	$115.4M	$74.5M	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	0.2120	−0.094%	$1.4M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2118	−0.196%	$397K	$525K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	−0.121%	$128.5M	$418.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2118	−0.170%	$85.7M	$175.4M	50x	as long as short
OKX ENA-USDT-SWAPshort	+0.0100%	4h	0.2119	−0.137%	$21.2M	$104.6M	50x
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2113	−0.429%	$20K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2120	−0.094%	$79K	$278K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	−0.146%	$46.4M	$41.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2120	−0.085%	$24.7M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2118	−0.203%	$48.1M	$57.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2119	−0.160%	—	$31.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2102	−0.942%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2106	−0.742%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2117	−0.229%	$351K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2106	−0.754%	$19K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	−0.099%	$190K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2068	−2.549%	$869	$873K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2121	−0.047%	$4K	$7K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2122	long leg	$268K	$796K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2118	−0.189%	$1.8M	$8.9M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2118	−0.189%	$93K	−$0	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2117	−0.216%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2120	−0.105%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2103	−0.881%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0162%	1h	0.2122	−0.022%	$2.6M	$4.3M	50x	as long as short
Lighter ENA	+0.0232%	1h	0.2121	−0.038%	$5.2M	$13.1M	10x	as long as short
dYdX ENA-USD	+0.0290%	1h	0.2117	−0.245%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2119	−0.141%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2110	−0.561%	$5.5M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.158%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0587%	1h	0.2122	−0.005%	$359K	$400K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2118	−0.179%	$867K	$1.7M	50x	as long as short