Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: Variational Omni against Bitget+0.007%7-day average +0.046% · you sell dearer than you buy

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

Long on Bitget Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.007%, 7d avg +0.046%

Together, before fees+0.023%+ Points / potential airdropVariational Omni: Active · farm board+$2 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 0.039% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ENAUSDT	0.2168	0.0100	pay 0.0050% / 4h	2h 00m	$49.3M	$59.4M	75x
Short	Variational Omni ENA	0.2168	0.0100	get 0.0050% / 4h	2h 00m	$3.1M	$10.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bitget. 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 BitgetbpFee Variational OmnibpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.046%: −$3.93
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.93
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Bitget live order book, 3 min ago	1.15 bp	10.2 bp −$10	20.0 bp −$200	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	6.90 bp	doesn't fit	16.1 bp −$161	48.3 bp −$4,829	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	−0.0142%	4h	0.2169	+0.018%	$45K	$26K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2170	+0.055%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2169	+0.047%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.071%	$522	$57K	5.5x	as long as short
01 Exchange ENAUSD	+0.0040%	1h	0.2170	+0.078%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2169	+0.032%	$55K	$477K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2170	+0.071%	$576K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2170	+0.088%	$117.7M	$76.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2168	−0.001%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2168	+0.001%	$407K	$532K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2168	−0.023%	$131.2M	$427.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2168	0.000%	$87.3M	$179.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2168	−0.014%	$21.7M	$109.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2173	+0.217%	$21K	$327K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2170	+0.078%	$80K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2172	+0.168%	$95K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2169	+0.046%	$11.5M	$24.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2167	−0.055%	$48.4M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2169	+0.023%	$25.3M	$15.7M	75x	as long as short
Bitget ENAUSDTlong	+0.0100%	4h	0.2168	long leg	$49.3M	$59.4M	75x
BingX ENA-USDT	+0.0100%	4h	0.2171	+0.111%	—	$31.4M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2168	+0.007%	$3.1M	$10.1M	—
edgeX ENAUSDC	+0.0100%	4h	0.2172	+0.159%	$256K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2172	+0.156%	$363K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2178	+0.447%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2170	+0.088%	$192K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2117	−2.375%	$932	$893K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2169	+0.032%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2176	+0.346%	$272K	$806K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2170	+0.078%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2167	−0.046%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2170	+0.099%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2169	+0.033%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2175	+0.318%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2171	+0.126%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0191%	1h	0.2168	−0.034%	$143K	$16K	5x	as long as short
Lighter ENA	+0.0224%	1h	0.2170	+0.074%	$5.2M	$13.5M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2170	+0.059%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2169	+0.042%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2169	+0.017%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0499%	1h	0.2169	+0.014%	$397K	$423K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2178	+0.429%	$894K	$1.8M	50x	as long as short