Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h 0.000%

Price spread now: HTX against Ondo Perps−0.136%7-day average +0.029% · you buy dearer than you sell

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

Long on Ondo Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.136%, 7d avg +0.029%

Together, before fees+0.239%+ Points / potential airdropOndo Perps: Active · farm board+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.165% cheaper against Ondo Perps than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ENA-USD.P	0.2127	0.0100	pay 0.0013% / 1h	22m 37s	$20K	$473K	5x
Short	HTX ENA-USDT	0.2124	0.0100	get 0.0050% / 4h	22m 37s	$274K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Ondo Perps. 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 Ondo PerpsbpFee HTXbpOrdersPrice spread, now −0.136%Rate

Funding earned: $0
Price spread: −0.136% → +0.029%: −$16.51
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$33.51
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: live order book, 1 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell HTX live order book, 1 min ago	24.66 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: 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	−0.0301%	1h	0.2123	−0.165%	$366K	$498K	5x	as long as short
Kraken Futures PF_ENAUSD	−0.0223%	1h	0.2124	−0.131%	$2.7M	$6.1M	50x	as long as short
Injective ENA/USDC PERP	−0.0223%	1h	0.2123	−0.155%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	−0.0141%	4h	0.2123	−0.188%	$42K	$22K	10x	as long as short
01 Exchange ENAUSD	−0.0056%	1h	0.2120	−0.315%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	−0.136%	$94K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2123	−0.165%	$98K	—	150x	as long as short
Phemex ENAUSDT	+0.0057%	4h	0.2122	−0.221%	$1.9M	$9.5M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2129	+0.122%	$5K	$392K	10x	as long as short
Bitget ENAUSDT	+0.0086%	4h	0.2117	−0.451%	$48.3M	$66.9M	75x	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	0.2119	−0.362%	$59K	$564K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2121	−0.261%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2122	−0.235%	$653K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2125	−0.066%	$112.0M	$79.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2123	−0.166%	$1.6M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2121	−0.250%	$407K	$618K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2120	−0.320%	$130.9M	$476.8M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2119	−0.367%	$89.6M	$197.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2119	−0.371%	$20.4M	$119.7M	50x	as long as short
Ondo Perps ENA-USD.Plong	+0.0100%	1h	0.2127	long leg	$20K	$473K	5x
Arcus ENA-USD	+0.0100%	1h	0.2122	−0.221%	$84K	$216K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2121	−0.277%	$10.6M	$23.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2121	−0.263%	$45.2M	$53.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2122	−0.240%	$23.4M	$16.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2121	−0.287%	—	$33.1M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2126	−0.050%	$3.7M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2124	−0.104%	$253K	$8.2M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2126	−0.030%	$365K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2127	+0.014%	$31K	$717K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2121	−0.277%	$187K	$3.2M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.549%	$1K	$784K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2122	−0.221%	$4K	$14K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2124	−0.136%	$274K	$1.7M	50x
Bulk ENA-USD	+0.0100%	1h	0.2122	−0.205%	$89K	$1K	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2120	−0.316%	$1.7M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2123	−0.157%	$78K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0163% / S −0.0219%	1h	0.2123	−0.164%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2124	−0.146%	$5.7M	$8.4M	75x	as long as short
Lighter ENA	+0.0400%	1h	0.2125	−0.071%	$5.8M	$13.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	−0.431%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2127	−0.009%	$816K	$2.4M	50x	as long as short
dYdX ENA-USD	+0.5862%	1h	0.2123	−0.162%	$140K	$12K	5x	as long as short