Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.023%

Price spread now: Injective against HTX−0.586%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 Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.586% cheaper against HTX than usual: you would sell low and buy high (−$59 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.160%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2134	0.0100	pay 0.0050% / 4h	2h 58m	$264K	$809K	50x
Short	Injective ENA/USDC PERP	0.2122	0.0026	get 0.0003% / 1h	58m 35s	$734	$57K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.586%Rate

Funding earned: −$15.54
Price spread: −0.586% → 0.000%: −$58.56
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$86.12
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 60 min ago; Injective: 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, 60 min ago	13.84 bp	40.5 bp −$40	294.0 bp −$2,940	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Kraken Futures PF_ENAUSD	−0.0241%	1h	0.2126	−0.376%	$2.6M	$4.4M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0109%	4h	0.2125	−0.426%	$44K	$15K	10x	as long as short
01 Exchange ENAUSD	−0.0064%	1h	0.2131	−0.164%	$4K	$169	10x	as long as short
Phemex ENAUSDT	−0.0052%	4h	0.2127	−0.347%	$1.9M	$9.0M	50x	as long as short
SoDEX ENA-USD	−0.0005%	1h	0.2126	−0.394%	$4K	$6K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2126	−0.394%	$90K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2136	+0.094%	$82K	—	150x	as long as short
Injective ENA/USDC PERPshort	+0.0026%	1h	0.2122	−0.586%	$734	$57K	5.5x
Bitget ENAUSDT	+0.0036%	4h	0.2130	−0.206%	$48.1M	$59.8M	75x	as long as short
Lighter ENA	+0.0096%	1h	0.2130	−0.216%	$5.0M	$12.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2129	−0.253%	$55K	$486K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	−0.166%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.216%	$564K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2127	−0.333%	$116.5M	$76.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2131	−0.164%	$1.3M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2129	−0.247%	$407K	$546K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2129	−0.244%	$128.7M	$421.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2129	−0.262%	$87.1M	$191.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2131	−0.173%	$21.0M	$106.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2142	+0.379%	$39K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2131	−0.159%	$79K	$246K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2131	−0.169%	$13.5M	$26.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2129	−0.248%	$41.9M	$42.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	−0.356%	$25.0M	$15.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2131	−0.150%	—	$30.7M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2134	−0.016%	$3.1M	$8.8M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2138	+0.175%	$253K	$7.2M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2136	+0.075%	$355K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2136	+0.075%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2132	−0.094%	$175K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2079	−2.596%	$1K	$921K	20x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2134	long leg	$264K	$809K	50x
Bulk ENA-USD	+0.0100%	1h	0.2133	−0.042%	$104K	$12K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2131	−0.170%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	−0.349%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2143	+0.422%	$14K	$258K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2136	+0.061%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	−0.422%	$5.5M	$3.4M	75x	as long as short
Backpack ENA_USDC_PERP	+0.0380%	1h	0.2128	−0.295%	$411K	$476K	5x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2128	−0.323%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0496%	1h	0.2129	−0.276%	$785K	$2.0M	50x	as long as short
dYdX ENA-USD	+0.1345%	1h	0.2130	−0.224%	$141K	$16K	5x	as long as short