Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Pacifica+0.047%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

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

costs, in and out, $10k−$740.743% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.753%+$75 · spread now +0.047%, 7d avg +0.084%

Together, before fees+0.772%+ Points / potential airdropPacifica: Active · farm board+$77 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 0.037% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ENA	0.2098	0.0100	pay 0.0013% / 1h	6m 07s	$410K	$501K	10x
Short	HTX ENA-USDT	0.2099	0.0100	get 0.0050% / 4h	1h 06m	$271K	$786K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Pacifica. 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 PacificabpFee HTXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.084%: −$3.72
Slippage, 4 orders: −$54.29
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$78.01
Costs to cover: 0.743%
Break-even: never at this rate

Slippage from Pacifica: live order book, 58 min ago; HTX: live order book, 18 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 Pacifica live order book, 58 min ago	1.41 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 18 min ago	11.52 bp	23.1 bp −$23	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	−0.0041%	4h	0.2095	−0.139%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2097	−0.058%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	−0.087%	$78K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2098	+0.006%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.195%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.063%	$55K	$498K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2097	−0.087%	$658K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2097	−0.053%	$113.1M	$71.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2097	−0.041%	$1.5M	$2.9M	50x	as long as short
Pacifica ENAlong	+0.0100%	1h	0.2098	long leg	$410K	$501K	10x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2095	−0.168%	$128.1M	$415.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.215%	$85.2M	$175.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2095	−0.153%	$20.7M	$101.5M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2095	−0.168%	$19K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2097	−0.063%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2120	+1.033%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2096	−0.120%	$11.0M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2095	−0.149%	$45.4M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2096	−0.096%	$24.4M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.249%	$47.6M	$57.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2095	−0.158%	—	$32.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2096	−0.111%	$371K	$362K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2097	−0.056%	$3.3M	$9.9M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2108	+0.463%	$243K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2108	+0.461%	$355K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2108	+0.461%	$22K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	−0.006%	$179K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.484%	$836	$838K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2096	−0.111%	$4K	$7K	10x	as long as short
HTX ENA-USDTshort	+0.0100%	4h	0.2099	+0.047%	$271K	$786K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.063%	$1.8M	$8.8M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.048%	$47K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2096	−0.125%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	−0.134%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2106	+0.380%	$8K	$298K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2099	+0.012%	$51K	—	100x	as long as short
Lighter ENA	+0.0272%	1h	0.2099	+0.013%	$5.3M	$14.0M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0287%	1h	0.2098	−0.015%	$2.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	+0.066%	$5.6M	$3.0M	75x	as long as short
dYdX ENA-USD	+0.0387%	1h	0.2099	+0.056%	$139K	$15K	5x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2097	−0.043%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0664%	1h	0.2107	+0.404%	$858K	$1.5M	50x	as long as short