Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.063%

Price spread now: Variational Omni against 01 Exchange+0.233%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Variational Omni

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Variational Omni is 0.233% dearer against 01 Exchange than usual: you sell high and buy low: +$23 more if the spread 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	01 Exchange ENAUSD	0.2090	−0.0024	get 0.0003% / 1h	39m 36s	$4K	$432	10x
Short	Variational Omni ENA	0.2095	0.0100	get 0.0050% / 4h	2h 39m	$3.6M	$10.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against 01 Exchange. 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 01 ExchangebpFee Variational OmnibpOrdersPrice spread, now +0.233%Rate

Funding earned: $26.04
Price spread: +0.233% → 0.000%: $23.25
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $42.29
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 5 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	7.17 bp	doesn't fit	21.5 bp −$215	59.8 bp −$5,977	doesn't fit

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	−0.0349%	1h	0.2096	+0.297%	$361K	$486K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0083%	4h	0.2095	+0.249%	$41K	$24K	10x	as long as short
01 Exchange ENAUSDlong	−0.0024%	1h	0.2090	long leg	$4K	$432	10x
Gate ENA_USDT	−0.0016%	4h	0.2090	−0.005%	$10.4M	$21.5M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2096	+0.287%	$97K	$1.9M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2096	+0.283%	$96K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.593%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	+0.344%	$5K	$394K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2089	−0.053%	$59K	$541K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2090	−0.018%	$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	0.2096	+0.261%	$654K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2096	+0.282%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2092	+0.109%	$402K	$585K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2091	+0.058%	$128.9M	$468.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2090	−0.024%	$87.4M	$193.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2089	−0.029%	$20.1M	$113.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2097	+0.321%	$19K	$429K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2091	+0.043%	$83K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2094	+0.187%	$88K	$2K	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2090	0.000%	$44.7M	$48.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2094	+0.182%	$24.1M	$16.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2089	−0.072%	$47.3M	$66.6M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2090	−0.019%	—	$6.5M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2095	+0.233%	$3.6M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2093	+0.139%	$250K	$8.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2093	+0.132%	$356K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2092	+0.091%	$32K	$712K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2097	+0.349%	$181K	$3.0M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2046	−2.134%	$889	$807K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2095	+0.234%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2105	+0.703%	$273K	$1.6M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2095	+0.234%	$1.8M	$9.3M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2089	−0.062%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2096	+0.282%	$77K	$11K	3x	as long as short
Kraken Futures PF_ENAUSD	+0.0104%	1h	0.2097	+0.326%	$2.7M	$5.8M	50x	as long as short
Lighter ENA	+0.0208%	1h	0.2095	+0.239%	$5.7M	$13.1M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0212% / S −0.0160%	1h	0.2096	+0.272%	$50K	—	100x	as long as short
Hyperliquid ENA	+0.0317%	1h	0.2096	+0.287%	$111.4M	$80.2M	10x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2097	+0.306%	$5.6M	$8.1M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2096	+0.259%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0536%	1h	0.2101	+0.512%	$802K	$2.2M	50x	as long as short
dYdX ENA-USD	+0.9663%	1h	0.2094	+0.167%	$138K	$12K	5x	as long as short