Funding arb · Price arb /

ENA

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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 HTX−0.140%7-day average −0.082% · you buy dearer than you sell

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

Long on HTX 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 3 days (all we have)−0.620%−$62 · spread now −0.140%, 7d avg −0.082%

Together, before fees−0.620%+ Points / potential airdropVariational Omni: Active · farm board−$62 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 0.058% cheaper against HTX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2099	0.0100	pay 0.0050% / 4h	2h 14m	$272K	$1.6M	50x
Short	Variational Omni ENA	0.2096	0.0100	get 0.0050% / 4h	2h 14m	$3.8M	$10.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HTXbpFee Variational OmnibpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.082%: −$5.83
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.83
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: 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 HTX live order book, 4 min ago	21.57 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.76 bp	doesn't fit	14.3 bp −$143	52.4 bp −$5,238	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	−0.0279%	1h	0.2098	−0.076%	$361K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2097	−0.091%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2098	−0.076%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2098	−0.071%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2098	−0.079%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.143%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0058%	4h	0.2096	−0.143%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2102	+0.138%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2097	−0.114%	$60K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2096	−0.178%	$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	0.2097	−0.121%	$657K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2099	−0.041%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2097	−0.120%	$406K	$593K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2097	−0.138%	$129.2M	$465.5M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2095	−0.195%	$87.4M	$193.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2097	−0.138%	$20.2M	$113.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	+0.048%	$19K	$430K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2099	−0.019%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.362%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2096	−0.143%	$46.0M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2098	−0.067%	$24.3M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2095	−0.205%	$47.4M	$66.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2097	−0.114%	—	$32.1M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2096	−0.140%	$3.8M	$10.4M	—
edgeX ENAUSDC	+0.0100%	4h	0.2100	+0.031%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2100	+0.011%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2100	+0.029%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2098	−0.067%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.539%	$960	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	−0.114%	$4K	$14K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2099	long leg	$272K	$1.6M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2097	−0.114%	$1.9M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2098	−0.072%	$2.6M	$5.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2098	−0.072%	$77K	$11K	3x	as long as short
Extended ENA-USD	+0.0168%	1h	0.2096	−0.172%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2097	−0.098%	$50K	—	100x	as long as short
Lighter ENA	+0.0312%	1h	0.2099	+0.005%	$5.7M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	−0.124%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0352%	1h	0.2100	+0.019%	$110.8M	$80.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	−0.141%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2103	+0.171%	$805K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.5752%	1h	0.2098	−0.052%	$139K	$15K	5x	as long as short