Funding arb · Price arb /

ENA

all ENA markets

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 MEXC−0.259%7-day average −0.015% · you buy dearer than you sell

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

Long on MEXC 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+0.235%+$24 · spread now −0.259%, 7d avg −0.015%

Together, before fees+0.235%+ Points / potential airdropVariational Omni: Active · farm board+$24 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 0.245% cheaper against MEXC than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ENA_USDT	0.2113	0.0100	pay 0.0050% / 4h	2h 21m	$42.2M	$43.2M	200x
Short	Variational Omni ENA	0.2108	0.0100	get 0.0050% / 4h	2h 21m	$3.0M	$8.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now −0.259%Rate

Funding earned: $0
Price spread: −0.259% → −0.015%: −$24.47
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$24.47
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.71 bp	3.3 bp −$3	7.3 bp −$73	35.5 bp −$3,551	65.1 bp −$32.6K
Sell Variational Omni RFQ quote, 1 min ago	4.75 bp	doesn't fit	14.2 bp −$142	doesn't fit	doesn't fit

ENA on 42 exchanges

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
Kraken Futures PF_ENAUSD	−0.0243%	1h	0.2115	+0.075%	$2.6M	$4.3M	50x	as long as short
Orderly PERP_ENA_USDC	−0.0164%	4h	0.2113	−0.005%	$44K	$14K	10x	as long as short
01 Exchange ENAUSD	−0.0152%	1h	0.2113	−0.028%	$4K	$169	10x	as long as short
Bitget ENAUSDT	−0.0024%	4h	0.2111	−0.123%	$47.6M	$58.7M	75x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2115	+0.090%	$90K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2114	+0.056%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0026%	1h	0.2122	+0.412%	$734	$57K	5.5x	as long as short
Bybit ENAUSDT	+0.0083%	4h	0.2111	−0.085%	$86.2M	$188.1M	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2115	+0.071%	$5.0M	$12.9M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2112	−0.057%	$56K	$391K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	−0.043%	$47K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2112	−0.035%	$591K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2114	+0.047%	$113.6M	$77.9M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2114	+0.042%	$1.3M	$3.2M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2113	+0.009%	$391K	$549K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2112	−0.035%	$127.4M	$415.9M	75x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2112	−0.052%	$21.0M	$103.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2114	+0.019%	$33K	$326K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2113	−0.009%	$79K	$243K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2109	−0.199%	$103K	$12K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2113	−0.019%	$13.6M	$27.6M	50x	as long as short
MEXC ENA_USDTlong	+0.0100%	4h	0.2113	long leg	$42.2M	$43.2M	200x
KuCoin ENAUSDTM	+0.0100%	4h	0.2114	+0.024%	$25.0M	$15.8M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2112	−0.062%	—	$6.5M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2108	−0.259%	$3.0M	$8.4M	—
edgeX ENAUSDC	+0.0100%	4h	0.2110	−0.175%	$246K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2109	−0.199%	$362K	$4.5M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2112	−0.057%	$19K	$644K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2113	0.000%	$167K	$2.7M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2063	−2.361%	$1K	$924K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2114	+0.038%	$6K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.175%	$264K	$827K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2113	−0.009%	$1.9M	$9.0M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2111	−0.106%	$1.6M	$4.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2114	+0.038%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0112%	1h	0.2111	−0.109%	$13K	$306K	10x	as long as short
dYdX ENA-USD	+0.0153%	1h	0.2114	+0.026%	$140K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0756%	1h	0.2115	+0.067%	$58K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2108	−0.260%	$5.5M	$3.3M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2113	+0.001%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0496%	1h	0.2115	+0.104%	$769K	$1.9M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0517%	1h	0.2115	+0.104%	$410K	$482K	5x	as long as short