Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: HTX against Bybit+0.318%7-day average +0.134% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 3 days (all we have)−0.125%−$13 · spread now +0.318%, 7d avg +0.134%

Together, before fees−0.052%−$5 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 0.183% dearer against Bybit than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.134%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2110	0.0100	pay 0.0050% / 4h	3h 49m	$88.7M	$187.8M	50x
Short	HTX ENA-USDT	0.2117	0.0100	get 0.0050% / 4h	3h 49m	$275K	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. 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 BybitbpFee HTXbpOrdersPrice spread, now +0.318%Rate

Funding earned: $0
Price spread: +0.318% → +0.134%: $18.33
Slippage, 4 orders: −$62.29
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$66.96
Costs to cover: 0.853%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; HTX: live order book, 4 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 Bybit live order book, 4 min ago	0.24 bp	8.7 bp −$9	17.8 bp −$178	60.6 bp −$6,063	doesn't fit
Sell HTX live order book, 4 min ago	19.98 bp	37.5 bp −$38	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
Backpack ENA_USDC_PERP	−0.0107%	1h	0.2111	+0.033%	$375K	$419K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2110	−0.005%	$93K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2113	+0.134%	$104K	—	150x	as long as short
Gate ENA_USDT	+0.0006%	4h	0.2110	+0.019%	$10.7M	$20.6M	50x	as long as short
Orderly PERP_ENA_USDC	+0.0019%	4h	0.2109	−0.062%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.640%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0085%	1h	0.2113	+0.163%	$140K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	+0.100%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2113	+0.142%	$678K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2110	+0.022%	$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	0.2113	+0.153%	$409K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2111	+0.052%	$131.0M	$447.9M	75x	as long as short
Bybit ENAUSDTlong	+0.0100%	4h	0.2110	long leg	$88.7M	$187.8M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2110	+0.014%	$20.6M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	+0.583%	$15K	$394K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2114	+0.194%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.763%	$90K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2111	+0.033%	$45.9M	$44.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2111	+0.043%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2109	−0.052%	$47.9M	$62.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2111	+0.047%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2115	+0.252%	$3.9M	$10.1M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	+0.482%	$245K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	+0.465%	$353K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2120	+0.479%	$34K	$714K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	+0.137%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.142%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	+0.005%	$4K	$11K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2117	+0.318%	$275K	$1.4M	50x
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	+0.095%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2110	−0.010%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2124	+0.645%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2115	+0.242%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0237%	1h	0.2111	+0.057%	$2.7M	$5.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2112	+0.100%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0256%	1h	0.2109	−0.039%	$1.6M	$4.3M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2116	+0.303%	$5.6M	$4.1M	75x	as long as short
Phemex ENAUSDT	+0.0392%	4h	0.2110	+0.005%	$1.9M	$9.3M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2113	+0.136%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0568%	1h	0.2113	+0.133%	$5.6M	$12.5M	10x	as long as short
Hyperliquid ENA	+0.0606%	1h	0.2113	+0.166%	$113.9M	$76.3M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2116	+0.308%	$836K	$1.9M	50x	as long as short