Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Binance−0.164%7-day average −0.013% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.131%+$13 · spread now −0.164%, 7d avg −0.013%

Together, before fees+0.131%+ Points / potential airdropVariational Omni: Active · farm board+$13 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 0.152% cheaper against Binance than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2124	0.0100	pay 0.0050% / 4h	9m 45s	$131.7M	$450.0M	75x
Short	Variational Omni ENA	0.2121	0.0100	get 0.0050% / 4h	9m 45s	$3.9M	$10.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → −0.013%: −$15.17
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$25.17
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 4 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 Binance live order book, 4 min ago	0.23 bp	7.7 bp −$8	12.9 bp −$129	51.5 bp −$5,149	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.70 bp	doesn't fit	14.1 bp −$141	51.6 bp −$5,164	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	−0.034%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	−0.043%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0005%	4h	0.2123	−0.072%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.049%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0050%	1h	0.2125	+0.017%	$377K	$444K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	+0.074%	$62K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.055%	$680K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.014%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	+0.064%	$411K	$559K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2124	long leg	$131.7M	$450.0M	75x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2126	+0.083%	$89.4M	$189.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2126	+0.083%	$20.6M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	−0.049%	$15K	$395K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2126	+0.074%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2121	−0.162%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2122	−0.100%	$10.7M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2127	+0.102%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2126	+0.060%	$24.6M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.072%	$48.1M	$63.4M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	−0.020%	—	$6.5M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2121	−0.164%	$3.9M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.148%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2129	+0.215%	$364K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2129	+0.215%	$34K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	+0.097%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2073	−2.430%	$1K	$827K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	−0.020%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.074%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2123	−0.067%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	+0.070%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2123	−0.057%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.196%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2128	+0.163%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0232%	1h	0.2122	−0.106%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2125	+0.050%	$2.7M	$5.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	−0.060%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	−0.152%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2123	−0.052%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2126	+0.069%	$839K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2127	+0.107%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0753%	1h	0.2128	+0.149%	$114.7M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1229%	1h	0.2126	+0.068%	$140K	$15K	5x	as long as short