Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Variational Omni+0.188%58s7-day average +0.049% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.144%−$14 · spread now +0.188%, 7d avg +0.049%

Together, before fees−0.142%+ Points / potential airdropVariational Omni: Active · farm board−$14 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: ApeX Omni is 0.138% dearer against Variational Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.049%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENA	0.2093	0.0100	pay 0.0050% / 4h	1h 52m	$3.8M	$10.4M	—
Short	ApeX Omni ENAUSDT	0.2097	0.0100	get 0.0013% / 1h	52m 37s	$32K	$711K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.188%Rate

Funding earned: $0
Price spread: +0.188% → +0.049%: $13.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $3.83
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; ApeX Omni: live order book, 31 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 Variational Omni RFQ quote, 2 min ago	7.16 bp	doesn't fit	11.9 bp −$119	54.9 bp −$5,485	doesn't fit
Sell ApeX Omni live order book, 31 min ago	7.10 bp	16.7 bp −$17	144.5 bp −$1,445	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
Orderly PERP_ENA_USDC	−0.0078%	4h	0.2090	−0.128%	$40K	$24K	10x	as long as short
Backpack ENA_USDC_PERP	−0.0008%	1h	0.2091	−0.094%	$361K	$484K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2091	−0.094%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2091	−0.114%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.449%	$522	$57K	5.5x	as long as short
Kraken Futures PF_ENAUSD	+0.0066%	1h	0.2091	−0.110%	$2.6M	$5.6M	50x	as long as short
01 Exchange ENAUSD	+0.0072%	1h	0.2093	−0.013%	$4K	$432	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2092	−0.051%	$60K	$538K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2092	−0.048%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2092	−0.066%	$656K	$1.8M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2093	+0.019%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2093	−0.015%	$405K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2092	−0.048%	$128.7M	$463.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2091	−0.080%	$87.0M	$193.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2092	−0.046%	$20.2M	$113.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2098	+0.250%	$20K	$414K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.003%	$82K	$223K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2092	−0.027%	$10.4M	$21.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2092	−0.037%	$45.0M	$46.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2092	−0.051%	$23.9M	$16.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2091	−0.109%	$47.3M	$65.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2092	−0.037%	—	$32.9M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2093	long leg	$3.8M	$10.4M	—
edgeX ENAUSDC	+0.0100%	4h	0.2096	+0.145%	$249K	$7.8M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2096	+0.156%	$353K	$4.6M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2097	+0.188%	$32K	$711K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2092	−0.075%	$189K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2040	−2.540%	$1K	$814K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2091	−0.099%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2094	+0.040%	$272K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2089	−0.195%	$1.9M	$9.2M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	−0.458%	$88K	$2K	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2091	−0.099%	$77K	$11K	3x	as long as short
Phoenix ENA	+0.0115%	1h	0.2092	−0.032%	$5K	$356K	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2092	−0.050%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0218% / S −0.0357%	1h	0.2090	−0.137%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2090	−0.161%	$5.5M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2090	−0.166%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2095	+0.092%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0543%	1h	0.2095	+0.083%	$110.3M	$79.7M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0576%	1h	0.2094	+0.059%	$801K	$2.1M	50x	as long as short
dYdX ENA-USD	+0.1806%	1h	0.2091	−0.085%	$138K	$15K	5x	as long as short