Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Binance−0.241%7-day average −0.013% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.207%+$21 · spread now −0.241%, 7d avg −0.013%

Together, before fees+0.207%+ Points / potential airdropVariational Omni: Active · farm board+$21 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: Variational Omni is 0.228% cheaper against Binance than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ENAUSDT	0.2124	0.0100	pay 0.0050% / 4h	26m 35s	$131.2M	$452.7M	75x
Short	Variational Omni ENA	0.2119	0.0100	get 0.0050% / 4h	26m 35s	$3.9M	$10.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.241%Rate

Funding earned: $0
Price spread: −0.241% → −0.013%: −$22.81
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.81
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 Binance live order book, 2 min ago	0.23 bp	5.9 bp −$6	12.4 bp −$124	52.9 bp −$5,289	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.73 bp	doesn't fit	18.9 bp −$189	52.0 bp −$5,203	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
Orderly PERP_ENA_USDC	−0.0011%	4h	0.2127	+0.140%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2128	+0.173%	$93K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0004%	1h	0.2128	+0.160%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.039%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0048%	1h	0.2130	+0.253%	$376K	$447K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2125	+0.037%	$61K	$521K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2126	+0.093%	$681K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2127	+0.137%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.052%	$411K	$562K	10x	as long as short
Binance ENAUSDTlong	+0.0100%	4h	0.2124	long leg	$131.2M	$452.7M	75x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2124	−0.020%	$89.2M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2124	−0.029%	$20.6M	$111.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2123	−0.076%	$15K	$405K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2124	−0.010%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.363%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.041%	$10.9M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2124	−0.015%	$46.6M	$45.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2127	+0.131%	$24.6M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2123	−0.048%	$48.2M	$64.0M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2124	−0.034%	—	$6.5M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2119	−0.241%	$3.9M	$10.3M	—
edgeX ENAUSDC	+0.0100%	4h	0.2116	−0.386%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2120	−0.200%	$361K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2118	−0.293%	$32K	$709K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2128	+0.164%	$179K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2076	−2.279%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2127	+0.131%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2129	+0.225%	$277K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2128	+0.178%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2123	−0.052%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2128	+0.167%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2118	−0.293%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2126	+0.103%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0216%	1h	0.2123	−0.064%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2128	+0.193%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2127	+0.140%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2127	+0.145%	$5.6M	$6.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2127	+0.116%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0536%	1h	0.2127	+0.117%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2131	+0.300%	$841K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0776%	1h	0.2129	+0.239%	$114.6M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1730%	1h	0.2126	+0.076%	$140K	$15K	5x	as long as short