ENA: HTX ↔ Binance arbitrage

ENA arbitrage between HTX and Binance: we compare the price of ENA on HTX (futures) and Binance (futures) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

About Ethena

Decentralized Finance (DeFi), Binance Launchpool, Solana Ecosystem, Avalanche Ecosystem

ENA: HTX — deposit open, withdrawal open; Binance — deposit open, withdrawal open.

Open interest in ENA right now — $352.1M: Binance $96.9M, Bybit $82.3M, HyperLiquid $70.3M, Bitget $34.6M, KuCoin $31.5M. See OI ENA.

News about ENA

• How far can USDe’s yield scale as Ethena targets RWA perps? Examining…
• Weekly Project Updates: LayerZero to Launch Blockchain‑Based Exchange This Fall, Ethena Unveils Four Major Ecosystem Updates, Coinbase Rolls Out Tokenized Stocks on Base, etc
• Ethena is targeting the $120 trillion Wall Street stock market to hunt yields 5x higher than Bitcoin
• Ethena Adds Equities to Basis Trade, Shutters HIP-3 Market
• Ethena Plans Equity-Perpetual Basis Trades for USDe Backing

About ENA arbitrage

How do I read the ENA spread?

The spread is how many percent higher ENA trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on HTX and Binance. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get ENA alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.