Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.063%

Price spread now: 01 Exchange against Variational Omni+0.021%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 01 Exchange

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

The price spread pays, funding is against you. 01 Exchange is 0.021% dearer against Variational Omni than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENA	0.2095	0.0100	pay 0.0050% / 4h	2h 48m	$3.6M	$10.2M	—
Short	01 Exchange ENAUSD	0.2095	−0.0072	pay 0.0009% / 1h	48m 28s	$4K	$432	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.021%Rate

Funding earned: −$36.12
Price spread: +0.021% → 0.000%: $2.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$41.02
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; 01 Exchange: 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, 1 min ago	4.77 bp	doesn't fit	19.1 bp −$191	52.4 bp −$5,243	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Backpack ENA_USDC_PERP	−0.0425%	1h	0.2097	+0.131%	$361K	$487K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0094%	4h	0.2094	−0.032%	$41K	$24K	10x	as long as short
01 Exchange ENAUSDshort	−0.0072%	1h	0.2095	+0.021%	$4K	$432	10x
Gate ENA_USDT	−0.0034%	4h	0.2094	−0.055%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2097	+0.126%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2095	+0.011%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.367%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2103	+0.389%	$5K	$394K	10x	as long as short
ApeX Omni ENAUSDT	+0.0086%	1h	0.2097	+0.107%	$32K	$711K	50x	as long as short
Lighter ENA	+0.0096%	1h	0.2098	+0.136%	$5.7M	$13.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ENAUSDT	+0.0096%	1h	0.2094	−0.036%	$59K	$545K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2094	−0.023%	$47K	$221	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2094	−0.051%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	+0.041%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2095	+0.030%	$402K	$587K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2094	−0.028%	$129.3M	$471.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2094	−0.051%	$87.7M	$194.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2094	−0.012%	$20.1M	$115.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2096	+0.054%	$19K	$444K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2095	+0.011%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2100	+0.250%	$89K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2094	−0.012%	$45.0M	$48.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2095	+0.021%	$24.2M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2093	−0.089%	$47.4M	$66.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2094	−0.032%	—	$6.5M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2095	long leg	$3.6M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2102	+0.331%	$252K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2097	+0.087%	$356K	$4.6M	10x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.093%	$182K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2048	−2.213%	$994	$809K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2097	+0.107%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2100	+0.274%	$272K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2096	+0.059%	$1.8M	$9.3M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2099	+0.219%	$2.7M	$5.9M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2094	−0.044%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2095	+0.011%	$77K	$11K	3x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0211% / S −0.0159%	1h	0.2095	+0.012%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0214%	1h	0.2098	+0.140%	$111.5M	$80.8M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.088%	$5.6M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2094	−0.024%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.288%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.7979%	1h	0.2097	+0.110%	$139K	$12K	5x	as long as short