Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Variational Omni+0.282%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.282% dearer against Variational Omni than usual: you sell high and buy low, +$28 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENA	0.2139	0.0100	pay 0.0050% / 4h	1h 37m	$3.1M	$10.2M	—
Short	SoDEX ENA-USD	0.2145	0.0100	get 0.0013% / 1h	37m 01s	$4K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.282%Rate

Funding earned: $0
Price spread: +0.282% → 0.000%: $28.16
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $20.16
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; SoDEX: no order-book sample. 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	7.02 bp	doesn't fit	21.1 bp −$211	58.5 bp −$5,848	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0124%	4h	0.2144	+0.254%	$45K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0024%	1h	0.2143	+0.202%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2146	+0.319%	$68K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2139	0.000%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.728%	$522	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2145	+0.268%	$5.1M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2144	+0.235%	$57K	$481K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2146	+0.324%	$567K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2144	+0.216%	$115.5M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2143	+0.189%	$1.4M	$3.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ENA	+0.0100%	1h	0.2144	+0.226%	$405K	$539K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2141	+0.113%	$129.4M	$428.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2142	+0.141%	$85.7M	$181.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2142	+0.132%	$21.4M	$108.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2139	−0.008%	$20K	$322K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2143	+0.188%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2138	−0.046%	$93K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2143	+0.207%	$12.5M	$26.1M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2141	+0.113%	$48.7M	$42.3M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2143	+0.193%	$24.8M	$15.8M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2140	+0.039%	$48.6M	$60.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2142	+0.141%	—	$6.5M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2139	long leg	$3.1M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2139	+0.010%	$257K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2139	+0.021%	$365K	$5.1M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2140	+0.048%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2147	+0.356%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2094	−2.079%	$1K	$899K	20x	as long as short
SoDEX ENA-USDshort	+0.0100%	1h	0.2145	+0.282%	$4K	$7K	10x
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.375%	$269K	$819K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2144	+0.235%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2143	+0.194%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2141	+0.103%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2145	+0.292%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2142	+0.123%	$8K	$276K	10x	as long as short
dYdX ENA-USD	+0.0123%	1h	0.2144	+0.213%	$142K	$16K	5x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2145	+0.283%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2145	+0.277%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2145	+0.261%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0439%	1h	0.2146	+0.337%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2149	+0.483%	$887K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0687%	1h	0.2144	+0.216%	$396K	$433K	5x	as long as short