Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0312%/8h= −34.1% APRpaid last 24h −0.093%

Price spread now: HTX against Reya+0.237%7-day average — · you sell dearer than you buy

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

Long on Reya Short on HTX

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.237% dearer against Reya than usual: you sell high and buy low (spread +0.237% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ENARUSDPERP	0.2112	0.0412	pay 0.0051% / 1h	9m 44s	$1K	$5K	15x
Short	HTX ENA-USDT	0.2117	0.0100	get 0.0050% / 4h	1h 09m	$277K	$781K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Reya. 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 ReyabpFee HTXbpOrdersPrice spread, now +0.237%Rate

Funding earned: −$65.47
Price spread: +0.237% → 0.000%: $23.75
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$59.72
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; HTX: live order book, 14 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell HTX live order book, 14 min ago	11.52 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit

Reya: 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	0.2111	−0.042%	$44K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	−0.0034%	1h	0.2111	−0.028%	$79K	$1.3M	50x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2108	−0.203%	$4K	$302	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2112	−0.002%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.545%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2108	−0.184%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	+0.107%	$663K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2110	−0.108%	$113.6M	$71.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2111	−0.024%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2108	−0.198%	$412K	$501K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2107	−0.247%	$129.0M	$417.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.217%	$86.2M	$175.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2108	−0.184%	$20.7M	$102.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2112	−0.018%	$19K	$333K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2108	−0.184%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+0.384%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2107	−0.236%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2107	−0.212%	$45.8M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2109	−0.132%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2106	−0.288%	$47.9M	$57.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2107	−0.208%	—	$32.2M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2112	−0.004%	$374K	$362K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2112	+0.026%	$3.4M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+0.319%	$244K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2119	+0.337%	$357K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2119	+0.337%	$22K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2115	+0.157%	$188K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2064	−2.291%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2112	+0.005%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2117	+0.237%	$277K	$781K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2110	−0.089%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2107	−0.228%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2107	−0.252%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	−0.050%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2119	+0.327%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2112	−0.008%	$51K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0285%	1h	0.2113	+0.030%	$2.7M	$4.3M	50x	as long as short
Lighter ENA	+0.0296%	1h	0.2109	−0.137%	$5.3M	$13.9M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2115	+0.143%	$5.6M	$3.1M	75x	as long as short
dYdX ENA-USD	+0.0370%	1h	0.2110	−0.108%	$139K	$15K	5x	as long as short
Reya ENARUSDPERPlong	+0.0412%	1h	0.2112	long leg	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2115	+0.166%	$832K	$1.5M	50x	as long as short