Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against Arcus+0.033%7-day average −0.023% · you sell dearer than you buy

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.033%, 7d avg −0.023%

Together, before fees+0.068%+ Points / potential airdropVariational Omni: Active · farm board+$7 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: Variational Omni is 0.056% dearer against Arcus than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ENA-USD	0.2125	0.0100	pay 0.0013% / 1h	32m 29s	$84K	$221K	10x
Short	Variational Omni ENA	0.2126	0.0100	get 0.0050% / 4h	32m 29s	$3.9M	$10.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. 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 ArcusbpFee Variational OmnibpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → −0.023%: $5.63
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1.13
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Arcus: live order book, 46 min ago; Variational Omni: RFQ quote, 2 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 Arcus live order book, 46 min ago	7.16 bp	14.7 bp −$15	24.8 bp −$248	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	4.71 bp	doesn't fit	9.4 bp −$94	51.8 bp −$5,179	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	−0.0019%	4h	0.2122	−0.141%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2123	−0.094%	$92K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.063%	$105K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.075%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0056%	1h	0.2124	−0.071%	$375K	$447K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2124	−0.047%	$64K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	−0.049%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2124	−0.032%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2124	−0.054%	$411K	$564K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2124	−0.048%	$131.4M	$452.7M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2122	−0.136%	$89.2M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2123	−0.113%	$20.6M	$111.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	−0.038%	$15K	$395K	5x	as long as short
Arcus ENA-USDlong	+0.0100%	1h	0.2125	long leg	$84K	$221K	10x
Bulk ENA-USD	+0.0100%	1h	0.2129	+0.188%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2124	−0.071%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	−0.056%	$46.9M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2125	+0.005%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2122	−0.160%	$48.1M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2124	−0.047%	—	$32.6M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2126	+0.033%	$3.9M	$10.3M	—
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.019%	$253K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	0.000%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2123	−0.094%	$32K	$710K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2124	−0.038%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2072	−2.499%	$1K	$823K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2123	−0.094%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2134	+0.400%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2123	−0.094%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	−0.116%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2124	−0.059%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2124	−0.024%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2125	+0.024%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2124	−0.030%	$2.7M	$5.4M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2124	−0.065%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	−0.079%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2122	−0.141%	$5.6M	$7.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−0.149%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0536%	1h	0.2127	+0.071%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2132	+0.315%	$842K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0809%	1h	0.2127	+0.080%	$114.3M	$78.7M	10x	as long as short
dYdX ENA-USD	+0.1717%	1h	0.2124	−0.041%	$140K	$15K	5x	as long as short