Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.017%

Price spread now: HTX against 01 Exchange+0.391%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and HTX is 0.391% dearer against 01 Exchange than usual: you sell high and buy low: +$39 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ENAUSD	0.2177	0.0056	pay 0.0007% / 1h	15m 39s	$4K	$277	10x
Short	HTX ENA-USDT	0.2185	0.0100	get 0.0050% / 4h	2h 15m	$274K	$805K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against 01 Exchange. 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 01 ExchangebpFee HTXbpOrdersPrice spread, now +0.391%Rate

Funding earned: $9.24
Price spread: +0.391% → 0.000%: $39.05
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $29.29
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; HTX: live order book, 58 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 01 Exchange no order-book sample	—	—	—	—	—
Sell HTX live order book, 58 min ago	25.82 bp	36.0 bp −$36	doesn't fit	doesn't fit	doesn't fit

01 Exchange: 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	−0.0139%	4h	0.2172	−0.207%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2173	−0.165%	$70K	$1.1M	50x	as long as short
Phemex ENAUSDT	+0.0003%	4h	0.2174	−0.115%	$1.8M	$8.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2174	−0.093%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.440%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSDlong	+0.0056%	1h	0.2177	long leg	$4K	$277	10x
Popdex ENAUSDT	+0.0096%	1h	0.2180	+0.161%	$53K	$475K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2176	−0.002%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2175	−0.051%	$117.9M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2177	+0.016%	$1.5M	$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	0.2172	−0.194%	$408K	$528K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2178	+0.088%	$132.3M	$423.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2178	+0.074%	$88.1M	$177.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2179	+0.124%	$21.7M	$108.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2177	+0.009%	$21K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2177	+0.023%	$81K	$280K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2172	−0.211%	$11.5M	$24.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2172	−0.211%	$47.7M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2172	−0.198%	$25.3M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2170	−0.285%	$49.3M	$58.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2172	−0.221%	—	$31.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2174	−0.124%	$3.1M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2172	−0.204%	$255K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2163	−0.601%	$362K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2173	−0.161%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2178	+0.051%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2119	−2.623%	$1K	$882K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2174	−0.115%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2185	+0.391%	$274K	$805K	50x
Bulk ENA-USD	+0.0100%	1h	0.2132	−2.068%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2171	−0.231%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2171	−0.238%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2174	−0.130%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	−0.106%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2175	−0.058%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0244%	1h	0.2172	−0.219%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0264%	1h	0.2174	−0.119%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2174	−0.115%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2172	−0.221%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2177	+0.028%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0662%	1h	0.2174	−0.106%	$367K	$402K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2173	−0.170%	$891K	$1.8M	50x	as long as short