Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against KuCoin−0.333%7-day average −0.020% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.333%+$33 · spread now −0.333%, 7d avg −0.020%

Together, before fees+0.333%+ Points / potential airdropVariational Omni: Active · farm board+$33 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 0.313% cheaper against KuCoin than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2151	0.0100	pay 0.0050% / 4h	3h 18m	$25.3M	$15.9M	75x
Short	Variational Omni ENA	0.2144	0.0100	get 0.0050% / 4h	3h 18m	$3.1M	$9.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.333%Rate

Funding earned: $0
Price spread: −0.333% → −0.020%: −$31.27
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$43.27
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 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 KuCoin live order book, 11 min ago	3.31 bp	18.0 bp −$18	40.8 bp −$408	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.65 bp	doesn't fit	14.0 bp −$140	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
Phemex ENAUSDT	−0.0168%	4h	0.2147	−0.172%	$1.9M	$9.0M	50x	as long as short
01 Exchange ENAUSD	−0.0112%	1h	0.2148	−0.144%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0101%	4h	0.2148	−0.121%	$45K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2149	−0.065%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2148	−0.144%	$83K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−1.339%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0068%	4h	0.2147	−0.149%	$48.7M	$60.6M	75x	as long as short
dYdX ENA-USD	+0.0090%	1h	0.2148	−0.140%	$142K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2151	+0.005%	$5.0M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2146	−0.219%	$55K	$496K	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0099%	8h	0.2146	−0.200%	$48K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2148	−0.121%	$568K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2152	+0.037%	$117.4M	$76.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2151	+0.002%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2147	−0.157%	$411K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2149	−0.073%	$129.6M	$427.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2149	−0.084%	$89.1M	$192.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2149	−0.060%	$21.3M	$108.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2140	−0.484%	$39K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2147	−0.172%	$80K	$284K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2147	−0.161%	$105K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2149	−0.065%	$13.4M	$28.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2149	−0.070%	$42.4M	$43.8M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2151	long leg	$25.3M	$15.9M	75x
BingX ENA-USDC	+0.0100%	4h	0.2149	−0.074%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2150	−0.023%	$416K	$479K	5x	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2144	−0.333%	$3.1M	$9.7M	—
edgeX ENAUSDC	+0.0100%	4h	0.2141	−0.455%	$250K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2144	−0.312%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2143	−0.358%	$19K	$645K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2148	−0.144%	$177K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2098	−2.446%	$1K	$926K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2149	−0.079%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2153	+0.126%	$268K	$845K	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2148	−0.124%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2148	−0.148%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2139	−0.553%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0194%	1h	0.2149	−0.098%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0756%	1h	0.2148	−0.139%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2148	−0.144%	$5.6M	$3.5M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2146	−0.214%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2149	−0.065%	$799K	$2.0M	50x	as long as short