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 BingX+0.304%7-day average +0.010% · you sell dearer than you buy

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

Long on BingX 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−0.324%−$32 · spread now +0.304%, 7d avg +0.010%

Together, before fees−0.324%+ Points / potential airdropVariational Omni: Active · farm board−$32 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 0.294% dearer against BingX than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ENA-USDC	0.2090	0.0100	pay 0.0050% / 4h	2h 12m	—	$6.5M	—
Short	Variational Omni ENA	0.2096	0.0100	get 0.0050% / 4h	2h 12m	$3.8M	$10.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now +0.304%Rate

Funding earned: $0
Price spread: +0.304% → +0.010%: $29.44
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $19.44
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 7 min ago; Variational Omni: RFQ quote, 1 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 BingX live order book, 7 min ago	0.48 bp	13.8 bp −$14	32.5 bp −$325	71.9 bp −$7,186	471.8 bp −$235.9K
Sell Variational Omni RFQ quote, 1 min ago	4.77 bp	doesn't fit	19.1 bp −$191	57.3 bp −$5,725	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
Backpack ENA_USDC_PERP	−0.0285%	1h	0.2092	+0.067%	$360K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2091	+0.043%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2091	+0.048%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2092	+0.067%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	+0.062%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.593%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0058%	4h	0.2090	+0.010%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2094	+0.211%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2090	−0.005%	$59K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2091	+0.024%	$47K	$221	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2091	+0.057%	$656K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2092	+0.091%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	+0.093%	$405K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.019%	$128.9M	$465.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2089	−0.077%	$87.1M	$193.4M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2090	0.000%	$20.2M	$113.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+0.493%	$19K	$424K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2092	+0.091%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.809%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	+0.014%	$45.8M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	+0.091%	$24.2M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2090	−0.024%	$47.3M	$66.1M	75x	as long as short
BingX ENA-USDClong	+0.0100%	4h	0.2090	long leg	—	$6.5M	—
Variational Omni ENAshort	+0.0100%	4h	0.2096	+0.304%	$3.8M	$10.4M	—
edgeX ENAUSDC	+0.0100%	4h	0.2098	+0.359%	$249K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.456%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2098	+0.378%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2091	+0.062%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.387%	$925	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	+0.043%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2096	+0.277%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2091	+0.043%	$1.9M	$9.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2092	+0.087%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2092	+0.073%	$2.6M	$5.8M	50x	as long as short
Extended ENA-USD	+0.0176%	1h	0.2090	0.000%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2091	+0.053%	$50K	—	100x	as long as short
Lighter ENA	+0.0312%	1h	0.2094	+0.172%	$5.6M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2091	+0.057%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0350%	1h	0.2094	+0.163%	$110.4M	$80.8M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.004%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	+0.617%	$805K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.5658%	1h	0.2094	+0.207%	$138K	$15K	5x	as long as short