Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.004%

Price spread now: GMX against HTX−0.144%7-day average — · you buy dearer than you sell

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

Long on HTX Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.144% cheaper against HTX than usual: you would sell low and buy high (spread −0.144% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.5 days of funding at the current rate (+$3 a day).

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 41m	$272K	$1.0M	50x
Short	GMX ENA/USD [ETH-USDC]	0.2102	L +0.0250% / S −0.0206%	get 0.0026% / 1h	41m 32s	$50K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.144%Rate

Funding earned: $22.27
Price spread: −0.144% → 0.000%: −$14.39
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$16.12
Costs to cover: 0.240%
Break-even: 12.1 days

Slippage unknown: HTX: live order book, 2 min ago; GMX: no order-book sample. 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 HTX live order book, 2 min ago	23.16 bp	32.7 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2104	−0.043%	$78K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2102	−0.133%	$90K	—	150x	as long as short
dYdX ENA-USD	+0.0028%	1h	0.2106	+0.017%	$139K	$15K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.860%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2104	−0.081%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2105	−0.005%	$4K	$302	10x	as long as short
Backpack ENA_USDC_PERP	+0.0042%	1h	0.2105	+0.009%	$364K	$383K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2104	−0.062%	$53K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2105	−0.033%	$698K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2105	−0.012%	$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	0.2104	−0.048%	$412K	$548K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2104	−0.080%	$131.0M	$444.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.123%	$86.0M	$186.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.062%	$20.9M	$107.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	+0.090%	$16K	$404K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	+0.081%	$115K	$253K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2104	−0.047%	$10.9M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2104	−0.057%	$44.7M	$43.8M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2104	−0.081%	$24.2M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2103	−0.123%	$47.8M	$61.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2105	−0.028%	—	$32.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2109	+0.179%	$3.8M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2111	+0.294%	$242K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.128%	$357K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2111	+0.271%	$32K	$691K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2105	−0.028%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2053	−2.503%	$1K	$846K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2104	−0.062%	$3K	$10K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2105	long leg	$272K	$1.0M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2104	−0.062%	$1.9M	$9.3M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.545%	$93K	$4K	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2104	−0.051%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2104	−0.074%	$74K	$4K	3x	as long as short
Lighter ENA	+0.0184%	1h	0.2106	+0.014%	$5.5M	$13.6M	10x	as long as short
Phoenix ENA	+0.0188%	1h	0.2105	−0.033%	$7K	$351K	10x	as long as short
GMX ENA/USD [ETH-USDC]short	L +0.0250% / S −0.0206%	1h	0.2102	−0.144%	$50K	—	100x
Kraken Futures PF_ENAUSD	+0.0253%	1h	0.2105	−0.021%	$2.6M	$4.9M	50x	as long as short
Extended ENA-USD	+0.0288%	1h	0.2104	−0.065%	$1.6M	$4.1M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	+1.287%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2103	−0.118%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0436%	1h	0.2106	+0.043%	$113.5M	$74.5M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2105	−0.028%	$825K	$1.7M	50x	as long as short