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: Variational Omni against Nado+0.207%57s7-day average −0.029% · you sell dearer than you buy

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days−0.172%−$17 · spread now +0.207%, 7d avg −0.029%

Together, before fees−0.190%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$19 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 0.236% dearer against Nado than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 57 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	Nado ENA-PERP	0.2145	0.0100	pay 0.0012% / 1h	50m 29s	$568K	$1.8M	10x
Short	Variational Omni ENA	0.2149	0.0100	get 0.0050% / 4h	1h 50m	$3.1M	$10.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now +0.207%Rate

Funding earned: $0
Price spread: +0.207% → −0.029%: $23.64
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $16.64
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Nado: live order book, 3 min ago; Variational Omni: RFQ quote, 4 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 Nado live order book, 3 min ago	0.93 bp	7.2 bp −$7	16.1 bp −$161	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.64 bp	doesn't fit	18.5 bp −$185	60.3 bp −$6,027	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	−0.0140%	4h	0.2148	+0.128%	$45K	$26K	10x	as long as short
01 Exchange ENAUSD	0.0000%	1h	0.2147	+0.077%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2149	+0.203%	$67K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2147	+0.080%	$83K	—	150x	as long as short
dYdX ENA-USD	+0.0009%	1h	0.2148	+0.148%	$142K	$16K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−1.000%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2147	+0.100%	$57K	$481K	50x	as long as short
Nado ENA-PERPlong	+0.0100%	1h	0.2145	long leg	$568K	$1.8M	10x
Hyperliquid ENA	+0.0100%	1h	0.2149	+0.193%	$115.9M	$76.5M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2147	+0.117%	$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	0.2148	+0.141%	$403K	$532K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2147	+0.079%	$129.9M	$428.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2147	+0.114%	$85.9M	$181.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2148	+0.156%	$21.5M	$109.4M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2142	−0.110%	$20K	$320K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2146	+0.054%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2148	+0.159%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2146	+0.054%	$12.3M	$25.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2147	+0.119%	$48.1M	$41.9M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2148	+0.128%	$24.8M	$15.9M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2146	+0.058%	$48.8M	$60.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2147	+0.114%	—	$31.8M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2149	+0.207%	$3.1M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2149	+0.205%	$255K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2149	+0.178%	$357K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2149	+0.193%	$19K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2148	+0.142%	$189K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2096	−2.292%	$1K	$897K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2148	+0.147%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2151	+0.291%	$271K	$819K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2150	+0.240%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2146	+0.053%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2145	+0.004%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2148	+0.147%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2161	+0.748%	$8K	$276K	10x	as long as short
Lighter ENA	+0.0152%	1h	0.2149	+0.189%	$5.1M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2147	+0.082%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2147	+0.119%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2147	+0.101%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0439%	1h	0.2150	+0.244%	$2.7M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2146	+0.058%	$876K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0620%	1h	0.2151	+0.291%	$392K	$430K	5x	as long as short