Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.006%

Price spread now: Extended against Variational Omni+0.198%7-day average −0.019% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.035%+$4 on $10k

Price spread, last 7 days−0.156%−$16 · spread now +0.198%, 7d avg −0.019%

Together, before fees−0.120%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.217% dearer against Variational Omni than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENA	0.2121	0.0100	pay 0.0050% / 4h	9m 26s	$3.9M	$10.2M	—
Short	Extended ENA-USD	0.2125	0.0232	get 0.0029% / 1h	9m 26s	$1.6M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.198%Rate

Funding earned: $27.72
Price spread: +0.198% → −0.019%: $21.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $44.44
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Extended: live order book, 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 Variational Omni RFQ quote, 5 min ago	4.70 bp	doesn't fit	18.8 bp −$188	61.0 bp −$6,103	doesn't fit
Sell Extended live order book, 4 min ago	0.23 bp	4.7 bp −$5	11.1 bp −$111	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2124	+0.130%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2127	+0.291%	$97K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0006%	4h	0.2126	+0.248%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.116%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0050%	1h	0.2125	+0.182%	$377K	$444K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2126	+0.238%	$62K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2125	+0.215%	$680K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	+0.284%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2126	+0.229%	$411K	$559K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2127	+0.308%	$131.8M	$450.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2127	+0.267%	$89.4M	$189.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2127	+0.290%	$20.7M	$110.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	+0.116%	$15K	$390K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2127	+0.286%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.235%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2127	+0.271%	$10.8M	$21.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2128	+0.323%	$46.6M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.281%	$24.6M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2126	+0.220%	$48.2M	$63.4M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2127	+0.267%	—	$32.6M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2121	long leg	$3.9M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2128	+0.313%	$246K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2121	+0.023%	$362K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2129	+0.380%	$34K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2127	+0.286%	$179K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2073	−2.270%	$1K	$827K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2124	+0.144%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2126	+0.238%	$276K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2123	+0.097%	$1.9M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2126	+0.234%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2127	+0.294%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.361%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2127	+0.304%	$4K	$302	10x	as long as short
Extended ENA-USDshort	+0.0232%	1h	0.2125	+0.198%	$1.6M	$4.2M	50x
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2125	+0.214%	$2.7M	$5.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2127	+0.281%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2121	+0.012%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.274%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2126	+0.234%	$839K	$1.9M	50x	as long as short
Lighter ENA	+0.0560%	1h	0.2127	+0.271%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0755%	1h	0.2130	+0.446%	$114.8M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1229%	1h	0.2126	+0.233%	$140K	$15K	5x	as long as short