Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.011%

Price spread now: HTX against Extended+0.125%7-day average +0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.125%, 7d avg +0.133%

Together, before fees−0.020%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ENA-USD	0.2130	0.0104	pay 0.0013% / 1h	22m 45s	$1.6M	$4.3M	50x
Short	HTX ENA-USDT	0.2133	0.0100	get 0.0050% / 4h	1h 22m	$267K	$820K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$0.84
Price spread: +0.125% → +0.133%: −$0.77
Slippage, 4 orders: −$60.55
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$79.17
Costs to cover: 0.776%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; HTX: live order book, 46 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 Extended live order book, 1 min ago	0.47 bp	6.6 bp −$7	16.5 bp −$165	doesn't fit	doesn't fit
Sell HTX live order book, 46 min ago	20.38 bp	26.8 bp −$27	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
Orderly PERP_ENA_USDC	−0.0116%	4h	0.2131	+0.040%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2130	−0.007%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2132	+0.083%	$55K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2131	+0.017%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.321%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2129	−0.058%	$54K	$483K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2131	+0.020%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2130	−0.009%	$564K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2133	+0.125%	$115.3M	$75.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2132	+0.068%	$1.4M	$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	0.2131	+0.021%	$403K	$544K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2131	+0.035%	$129.0M	$429.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2129	−0.082%	$91.3M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2131	+0.031%	$21.4M	$108.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2125	−0.241%	$33K	$331K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2131	+0.036%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.598%	$92K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2130	+0.012%	$12.5M	$26.5M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2130	−0.011%	$37.7M	$42.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2131	+0.040%	$25.0M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2130	−0.021%	$48.3M	$60.1M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2131	+0.022%	—	$6.5M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2129	−0.040%	$3.1M	$10.2M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2120	−0.467%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2122	−0.388%	$350K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2122	−0.387%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2130	+0.008%	$186K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2081	−2.311%	$1K	$904K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2131	+0.036%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2133	+0.125%	$267K	$820K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2130	−0.011%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USDlong	+0.0104%	1h	0.2130	long leg	$1.6M	$4.3M	50x
Aevo ENA-PERP	+0.0104%	1h	0.2132	+0.060%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2133	+0.139%	$8K	$276K	10x	as long as short
dYdX ENA-USD	+0.0192%	1h	0.2133	+0.115%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0216%	1h	0.2132	+0.106%	$5.1M	$13.5M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0753%	1h	0.2131	+0.032%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	+0.059%	$5.6M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2129	−0.055%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0442%	1h	0.2132	+0.064%	$2.6M	$4.4M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0499%	1h	0.2131	+0.055%	$395K	$437K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2135	+0.247%	$881K	$1.8M	50x	as long as short