Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Aevo+0.090%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.090% dearer against Aevo than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ENA-PERP	0.2087	0.0104	pay 0.0013% / 1h	50m 21s	$77K	$11K	3x
Short	Variational Omni ENA	0.2088	0.0100	get 0.0050% / 4h	1h 50m	$3.8M	$10.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now +0.090%Rate

Funding earned: −$0.84
Price spread: +0.090% → 0.000%: $8.97
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.87
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	7.16 bp	doesn't fit	16.7 bp −$167	59.6 bp −$5,962	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0077%	4h	0.2086	−0.038%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0070%	1h	0.2090	+0.177%	$361K	$484K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2087	+0.010%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2087	+0.012%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.764%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0067%	1h	0.2087	+0.023%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0080%	1h	0.2090	+0.153%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2088	+0.067%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2089	+0.118%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2088	+0.046%	$654K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2090	+0.155%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2090	+0.166%	$404K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	+0.078%	$128.5M	$462.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2086	−0.048%	$86.7M	$192.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2087	+0.005%	$20.1M	$112.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2089	+0.139%	$20K	$412K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2090	+0.163%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2090	+0.167%	$88K	$1K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2087	+0.034%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2088	+0.072%	$44.9M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+0.115%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2085	−0.072%	$47.2M	$65.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2087	−0.005%	—	$32.9M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2088	+0.090%	$3.8M	$10.4M	—
edgeX ENAUSDC	+0.0100%	4h	0.2091	+0.225%	$248K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.467%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2091	+0.211%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2088	+0.077%	$187K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.257%	$1K	$813K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2087	+0.019%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2093	+0.326%	$271K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	+0.115%	$1.9M	$9.2M	50x	as long as short
Aevo ENA-PERPlong	+0.0104%	1h	0.2087	long leg	$77K	$11K	3x
Phoenix ENA	+0.0115%	1h	0.2092	+0.278%	$5K	$356K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0220% / S −0.0361%	1h	0.2087	+0.005%	$38K	—	100x	as long as short
Extended ENA-USD	+0.0224%	1h	0.2086	−0.033%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2089	+0.115%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2088	+0.060%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0448%	1h	0.2093	+0.288%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0530%	1h	0.2091	+0.192%	$110.1M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.369%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1814%	1h	0.2089	+0.128%	$138K	$15K	5x	as long as short