Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against HTX−0.181%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$820.817% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 3 days (all we have)−0.702%−$70 · spread now −0.181%, 7d avg −0.043%

Together, before fees−0.953%−$95 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: Polymarket Perps is 0.138% cheaper against HTX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2105	0.0100	pay 0.0050% / 4h	2h 51m	$273K	$1.6M	50x
Short	Polymarket Perps ENA-USD	0.2101	0.0100	get 0.0013% / 1h	51m 52s	$183K	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → −0.043%: −$13.79
Slippage, 4 orders: −$61.7
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$95.49
Costs to cover: 0.817%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Polymarket Perps: live order book, 2 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, 2 min ago	18.99 bp	41.1 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	3.09 bp	7.1 bp −$7	8.0 bp −$80	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	−0.0480%	1h	0.2100	−0.242%	$361K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0096%	4h	0.2100	−0.247%	$41K	$24K	10x	as long as short
01 Exchange ENAUSD	−0.0072%	1h	0.2100	−0.266%	$4K	$432	10x	as long as short
Gate ENA_USDT	−0.0014%	4h	0.2096	−0.423%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2101	−0.195%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2101	−0.207%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.865%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2103	−0.109%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.295%	$59K	$545K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2099	−0.272%	$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	0.2098	−0.342%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2100	−0.244%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2101	−0.199%	$403K	$604K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.499%	$129.8M	$473.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2092	−0.613%	$88.0M	$195.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2093	−0.594%	$20.1M	$115.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2103	−0.090%	$19K	$446K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2100	−0.247%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2108	+0.113%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−0.470%	$45.2M	$48.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2102	−0.176%	$24.3M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−0.717%	$47.4M	$67.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2092	−0.613%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2107	+0.078%	$3.6M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2103	−0.111%	$252K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2105	−0.028%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2105	−0.010%	$32K	$714K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2101	−0.181%	$183K	$3.0M	10x
SunX ENA-USDT	+0.0100%	4h	0.2050	−2.613%	$782	$808K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.247%	$4K	$14K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2105	long leg	$273K	$1.6M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2099	−0.295%	$1.8M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2102	−0.131%	$2.7M	$5.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2097	−0.392%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2101	−0.200%	$77K	$11K	3x	as long as short
Lighter ENA	+0.0120%	1h	0.2101	−0.181%	$5.7M	$13.1M	10x	as long as short
Hyperliquid ENA	+0.0189%	1h	0.2096	−0.437%	$111.3M	$80.7M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0158%	1h	0.2101	−0.219%	$50K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2102	−0.176%	$5.6M	$8.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2099	−0.292%	$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	+0.6980%	1h	0.2101	−0.195%	$139K	$12K	5x	as long as short