Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni−0.149%52s7-day average −0.008% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now −0.149%, 7d avg −0.008%

Together, before fees−0.309%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$31 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: Pacifica is 0.141% cheaper against Variational Omni than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.008%. The two prices were read 52 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	0.2104	0.0100	pay 0.0050% / 4h	2h 16m	$3.8M	$10.4M	—
Short	Pacifica ENA	0.2101	0.0100	get 0.0013% / 1h	16m 49s	$406K	$593K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now −0.149%Rate

Funding earned: $0
Price spread: −0.149% → −0.008%: −$14.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$22.13
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Pacifica: live order book, 7 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	4.76 bp	doesn't fit	19.0 bp −$190	66.7 bp −$6,667	doesn't fit
Sell Pacifica live order book, 7 min ago	1.42 bp	10.9 bp −$11	doesn't fit	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
Backpack ENA_USDC_PERP	−0.0278%	1h	0.2101	−0.144%	$362K	$484K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0082%	4h	0.2100	−0.211%	$41K	$23K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2100	−0.187%	$4K	$432	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2101	−0.163%	$93K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2100	−0.173%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.920%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0054%	4h	0.2099	−0.263%	$10.4M	$21.7M	50x	as long as short
Phoenix ENA	+0.0076%	1h	0.2107	+0.131%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2099	−0.239%	$60K	$539K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2100	−0.190%	$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	0.2100	−0.187%	$658K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	−0.158%	$1.5M	$3.3M	50x	as long as short
Pacifica ENAshort	+0.0100%	1h	0.2101	−0.149%	$406K	$593K	10x
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.238%	$129.4M	$466.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.301%	$87.7M	$193.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2098	−0.287%	$20.3M	$113.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2100	−0.173%	$19K	$430K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2101	−0.144%	$82K	$223K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2107	+0.141%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2099	−0.239%	$46.0M	$49.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	−0.163%	$24.3M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.358%	$47.4M	$66.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2099	−0.263%	—	$32.1M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2104	long leg	$3.8M	$10.4M	—
edgeX ENAUSDC	+0.0100%	4h	0.2103	−0.069%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2103	−0.049%	$351K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2103	−0.049%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2100	−0.211%	$183K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2049	−2.639%	$856	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.192%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2102	−0.073%	$273K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2099	−0.239%	$1.9M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2101	−0.150%	$2.6M	$5.8M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	−0.183%	$77K	$11K	3x	as long as short
Extended ENA-USD	+0.0144%	1h	0.2098	−0.278%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0214% / S −0.0163%	1h	0.2100	−0.182%	$50K	—	100x	as long as short
Lighter ENA	+0.0328%	1h	0.2103	−0.059%	$5.7M	$13.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2100	−0.173%	$5.5M	$8.1M	75x	as long as short
Hyperliquid ENA	+0.0351%	1h	0.2103	−0.052%	$110.9M	$80.7M	10x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2098	−0.270%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2104	−0.021%	$803K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.6068%	1h	0.2102	−0.088%	$139K	$15K	5x	as long as short