Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.054%

Price spread now: Variational Omni against Aster+0.605%7-day average −0.061% · you sell dearer than you buy

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

Long on Aster Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.118%−$12 on $10k

Price spread, last 7 days−0.608%−$61 · spread now +0.605%, 7d avg −0.061%

Together, before fees−0.726%+ Points / potential airdropAster: Stage 5 · Variational Omni: Active · farm board−$73 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 0.666% dearer against Aster than usual: you sell high and buy low, +$67 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ENAUSDT	0.2107	0.0100	pay 0.0050% / 4h	55m 37s	$1.5M	$2.9M	50x
Short	Variational Omni ENA	0.2119	0.0100	get 0.0050% / 4h	55m 37s	$3.3M	$10.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aster. 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 AsterbpFee Variational OmnibpOrdersPrice spread, now +0.605%Rate

Funding earned: $0
Price spread: +0.605% → −0.061%: $66.56
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $58.56
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 3 min ago; 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 Aster live order book, 3 min ago	3.79 bp	9.8 bp −$10	19.9 bp −$199	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	7.11 bp	doesn't fit	16.6 bp −$166	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
01 Exchange ENAUSD	−0.0120%	1h	0.2105	−0.060%	$4K	$302	10x	as long as short
Backpack ENA_USDC_PERP	−0.0055%	1h	0.2114	+0.344%	$373K	$372K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0051%	4h	0.2120	+0.638%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2121	+0.690%	$79K	$1.3M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2121	+0.659%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.795%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0087%	1h	0.2106	−0.024%	$139K	$15K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2105	−0.078%	$55K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2105	−0.061%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2121	+0.672%	$666K	$1.6M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ENA	+0.0100%	1h	0.2105	−0.060%	$112.3M	$72.7M	10x	as long as short
Aster ENAUSDTlong	+0.0100%	4h	0.2107	long leg	$1.5M	$2.9M	50x
Pacifica ENA	+0.0100%	1h	0.2105	−0.060%	$410K	$499K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2106	−0.036%	$128.9M	$415.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2106	−0.045%	$86.0M	$175.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2106	−0.017%	$20.7M	$102.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	+0.344%	$19K	$324K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2105	−0.078%	$78K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2102	−0.221%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2105	−0.064%	$11.1M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2106	−0.036%	$45.6M	$41.0M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2106	−0.017%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	−0.135%	$47.8M	$57.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2106	−0.036%	—	$32.3M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2119	+0.605%	$3.3M	$10.0M	—
edgeX ENAUSDC	+0.0100%	4h	0.2108	+0.060%	$243K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2110	+0.159%	$354K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2107	+0.016%	$18K	$651K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2120	+0.638%	$188K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2070	−1.745%	$1K	$840K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	+0.444%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2121	+0.676%	$274K	$798K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2113	+0.301%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2105	−0.067%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.577%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2110	+0.173%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0176%	1h	0.2105	−0.064%	$5.2M	$13.3M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+0.502%	$2.7M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2120	+0.646%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2105	−0.055%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2118	+0.533%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2121	+0.695%	$864K	$1.5M	50x	as long as short