Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Polymarket Perps+0.189%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.234%+$23 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.189%, 7d avg +0.057%

Together, before fees+0.128%+$13 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: HTX is 0.132% dearer against Polymarket Perps than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2121	0.0100	pay 0.0013% / 1h	33m 02s	$186K	$2.6M	10x
Short	HTX ENA-USDT	0.2125	0.0100	get 0.0050% / 4h	1h 33m	$266K	$820K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Polymarket Perps. 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 Polymarket PerpsbpFee HTXbpOrdersPrice spread, now +0.189%Rate

Funding earned: $0
Price spread: +0.189% → +0.057%: $13.18
Slippage, 4 orders: −$58.06
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$64.88
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; HTX: live order book, 36 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 Polymarket Perps live order book, 6 min ago	2.34 bp	6.6 bp −$7	7.2 bp −$72	11626.7 bp −$1.16M	doesn't fit
Sell HTX live order book, 36 min ago	20.38 bp	26.8 bp −$27	doesn't fit	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
Orderly PERP_ENA_USDC	−0.0125%	4h	0.2119	−0.104%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0016%	1h	0.2121	−0.024%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2120	−0.075%	$55K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2120	−0.057%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.104%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2121	−0.009%	$53K	$480K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	−0.040%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	−0.014%	$561K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2120	−0.057%	$114.6M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2120	−0.066%	$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	0.2121	−0.014%	$400K	$539K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2118	−0.147%	$128.2M	$429.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	−0.231%	$89.6M	$186.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2118	−0.165%	$21.1M	$108.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.113%	$20K	$336K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.009%	$78K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2138	+0.792%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2119	−0.099%	$12.3M	$26.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2118	−0.151%	$37.5M	$42.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2118	−0.146%	$24.5M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2117	−0.222%	$48.0M	$60.3M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2118	−0.151%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2128	+0.301%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2143	+1.048%	$262K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2145	+1.122%	$366K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2145	+1.122%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2121	long leg	$186K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2069	−2.442%	$1K	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2120	−0.057%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2125	+0.189%	$266K	$820K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2121	−0.009%	$1.8M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2117	−0.200%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	−0.099%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2119	−0.099%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0144%	1h	0.2122	+0.061%	$5.0M	$13.4M	10x	as long as short
dYdX ENA-USD	+0.0221%	1h	0.2119	−0.081%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2125	+0.181%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	−0.042%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2120	−0.054%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0445%	1h	0.2121	0.000%	$2.6M	$4.4M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2122	+0.028%	$875K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0645%	1h	0.2120	−0.047%	$390K	$435K	5x	as long as short