Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h +0.094%

Price spread now: Reya against HTX−0.277%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 Reya

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

Funding pays, the price is against you. Reya is 0.277% cheaper against HTX than usual: you would sell low and buy high (spread −0.277% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 3.0 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2110	0.0100	pay 0.0050% / 4h	3h 47m	$273K	$793K	50x
Short	Reya ENARUSDPERP	0.2104	0.0412	get 0.0051% / 1h	47m 51s	$1K	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.277%Rate

Funding earned: $65.45
Price spread: −0.277% → 0.000%: −$27.7
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $19.75
Costs to cover: 0.180%
Break-even: 4.9 days

Slippage unknown: HTX: live order book, 31 min ago; Reya: 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, 31 min ago	25.21 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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
Backpack ENA_USDC_PERP	−0.0253%	1h	0.2104	−0.303%	$361K	$402K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0085%	4h	0.2103	−0.351%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2104	−0.308%	$73K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2104	−0.305%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.626%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2106	−0.199%	$4K	$277	10x	as long as short
Gate ENA_USDT	+0.0084%	4h	0.2103	−0.332%	$11.1M	$22.2M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2106	−0.209%	$5.2M	$13.2M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	−0.246%	$56K	$464K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2108	−0.126%	$47K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2106	−0.187%	$656K	$1.7M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2104	−0.307%	$1.5M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2107	−0.131%	$401K	$513K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2104	−0.298%	$127.9M	$415.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2103	−0.346%	$84.9M	$175.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2104	−0.303%	$21.0M	$103.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2107	−0.166%	$20K	$329K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2107	−0.152%	$78K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2115	+0.244%	$93K	$4K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2105	−0.265%	$45.8M	$40.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2105	−0.261%	$24.9M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2101	−0.422%	$47.8M	$57.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2103	−0.351%	—	$32.0M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2110	+0.009%	$3.0M	$10.0M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2114	+0.171%	$244K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2116	+0.273%	$355K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	+0.370%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2106	−0.204%	$177K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2055	−2.621%	$1K	$852K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2103	−0.341%	$4K	$7K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2110	long leg	$273K	$793K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2104	−0.294%	$1.7M	$8.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2104	−0.312%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2103	−0.324%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2113	+0.137%	$8K	$274K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0174%	1h	0.2104	−0.279%	$2.6M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0298%	1h	0.2108	−0.121%	$139K	$15K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0305% / S −0.0358%	1h	0.2103	−0.330%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2107	−0.142%	$5.6M	$3.0M	75x	as long as short
Hyperliquid ENA	+0.0383%	1h	0.2106	−0.218%	$114.8M	$74.0M	10x	as long as short
Reya ENARUSDPERPshort	+0.0412%	1h	0.2104	−0.277%	$1K	$5K	15x
Coinbase International ENA-PERP-INTX	+0.0656%	1h	0.2112	+0.062%	$863K	$1.7M	50x	as long as short