Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: HTX against gTrade (Gains Network)+0.090%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$384as in the Price arb table

costs, in and out, $10k−$3863.860% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.092%+$9 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.090%, 7d avg +0.071%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.071%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ENA/USD	0.2147	L +0.0003% / S −0.0003%	pay 0.0000% / 1h	22m 46s	$100K	—	150x
Short	HTX ENA-USDT	0.2149	0.0100	get 0.0050% / 4h	3h 22m	$279K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee HTXbpOrdersPrice spread, now +0.090%Rate

Funding earned: $20.28
Price spread: +0.090% → +0.071%: $1.94
Slippage, 4 orders: −$363.97
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$363.76
Costs to cover: 3.860%
Break-even: 132.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 31 min ago; HTX: live order book, 1 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 gTrade (Gains Network) virtual book (oracle venue), 31 min ago	130.03 bp	186.1 bp −$186	1556.6 bp −$15.6K	15425.0 bp −$1.54M	doesn't fit
Sell HTX live order book, 1 min ago	25.55 bp	32.8 bp −$33	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2147	+0.015%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USDlong	L +0.0003% / S −0.0003%	1h	0.2147	long leg	$100K	—	150x
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.079%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0035%	4h	0.2145	−0.068%	$41K	$23K	10x	as long as short
dYdX ENA-USD	+0.0039%	1h	0.2147	+0.015%	$142K	$15K	5x	as long as short
Backpack ENA_USDC_PERP	+0.0090%	1h	0.2148	+0.057%	$382K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2145	−0.073%	$63K	$518K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2144	−0.120%	$711K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2148	+0.060%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2145	−0.065%	$421K	$549K	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	0.2149	+0.122%	$133.5M	$444.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2146	−0.041%	$88.4M	$187.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2146	−0.027%	$21.1M	$110.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2150	+0.183%	$15K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2148	+0.067%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	−0.166%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2146	−0.027%	$10.9M	$21.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2146	−0.027%	$45.8M	$44.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2147	−0.003%	$24.7M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2146	−0.036%	$48.7M	$61.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2146	−0.027%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2155	+0.392%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2154	+0.330%	$254K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2155	+0.393%	$363K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2146	−0.027%	$33K	$688K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2146	−0.013%	$185K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2095	−2.398%	$1K	$832K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2146	−0.027%	$4K	$10K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2149	+0.090%	$279K	$1.1M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2146	−0.027%	$2.0M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	−0.049%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2146	−0.027%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2154	+0.323%	$8K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2145	−0.064%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2148	+0.052%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0304%	1h	0.2146	−0.025%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0333% / S −0.0430%	1h	0.2147	−0.002%	$81K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2147	+0.025%	$5.6M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2145	−0.070%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2150	+0.155%	$851K	$1.8M	50x	as long as short
Lighter ENA	+0.0744%	1h	0.2151	+0.211%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0756%	1h	0.2150	+0.183%	$116.0M	$74.0M	10x	as long as short