Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Polymarket Perps+0.270%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$860.862% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

Price spread, last 4 days (all we have)+0.612%+$61 · spread now +0.270%, 7d avg +0.057%

Together, before fees+0.842%+$84 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 0.213% dearer against Polymarket Perps than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ENA-USD	0.2148	0.0100	pay 0.0013% / 1h	17m 36s	$177K	$2.6M	10x
Short	HTX ENA-USDT	0.2153	0.0100	get 0.0050% / 4h	3h 17m	$268K	$845K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Polymarket 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 Polymarket PerpsbpFee HTXbpOrdersPrice spread, now +0.270%Rate

Funding earned: $0
Price spread: +0.270% → +0.057%: $21.33
Slippage, 4 orders: −$66.19
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$64.86
Costs to cover: 0.862%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 46 min ago; HTX: live order book, 41 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 Polymarket Perps live order book, 46 min ago	2.84 bp	6.8 bp −$7	10.4 bp −$104	13411.4 bp −$1.34M	doesn't fit
Sell HTX live order book, 41 min ago	13.84 bp	32.0 bp −$32	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
Phemex ENAUSDT	−0.0168%	4h	0.2147	−0.028%	$1.9M	$9.0M	50x	as long as short
01 Exchange ENAUSD	−0.0112%	1h	0.2142	−0.261%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0101%	4h	0.2148	+0.023%	$45K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2149	+0.079%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2148	0.000%	$83K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−1.197%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0066%	4h	0.2141	−0.321%	$48.5M	$60.5M	75x	as long as short
dYdX ENA-USD	+0.0088%	1h	0.2144	−0.179%	$142K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2145	−0.112%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2142	−0.261%	$55K	$496K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0099%	8h	0.2143	−0.210%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2148	+0.023%	$568K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2147	−0.028%	$117.2M	$76.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2145	−0.118%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2144	−0.174%	$410K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2142	−0.254%	$129.2M	$426.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2140	−0.335%	$88.8M	$192.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2141	−0.293%	$21.2M	$108.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2140	−0.340%	$39K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2144	−0.168%	$80K	$284K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2147	−0.017%	$105K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2143	−0.196%	$13.4M	$28.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2144	−0.168%	$42.1M	$43.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2145	−0.144%	$25.2M	$15.9M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2143	−0.219%	—	$30.9M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2150	+0.121%	$416K	$479K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2144	−0.189%	$3.1M	$9.7M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2148	+0.008%	$253K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2147	−0.018%	$361K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2143	−0.214%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USDlong	+0.0100%	1h	0.2148	long leg	$177K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2098	−2.305%	$1K	$926K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2149	+0.065%	$4K	$6K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2153	+0.270%	$268K	$845K	50x
Extended ENA-USD	+0.0104%	1h	0.2142	−0.245%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2148	−0.004%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2139	−0.410%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0194%	1h	0.2149	+0.046%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2148	+0.005%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2148	0.000%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2146	−0.070%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2149	+0.079%	$799K	$2.0M	50x	as long as short