Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Variational Omni−0.345%103s7-day average +0.046% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX 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 3 days (all we have)+0.398%+$40 · spread now −0.345%, 7d avg +0.046%

Together, before fees+0.398%+ Points / potential airdropVariational Omni: Active · farm board+$40 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: ApeX Omni is 0.391% cheaper against Variational Omni than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 103 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	Variational Omni ENA	0.2123	0.0100	pay 0.0050% / 4h	3h 27m	$3.8M	$10.1M	—
Short	ApeX Omni ENAUSDT	0.2116	0.0100	get 0.0013% / 1h	27m 43s	$34K	$687K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.345%Rate

Funding earned: $0
Price spread: −0.345% → +0.046%: −$39.12
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$49.12
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; ApeX Omni: live order book, 46 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 Variational Omni RFQ quote, 1 min ago	4.69 bp	doesn't fit	14.1 bp −$141	61.0 bp −$6,100	doesn't fit
Sell ApeX Omni live order book, 46 min ago	9.40 bp	20.0 bp −$20	129.5 bp −$1,295	doesn't fit	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
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2141	+0.818%	$80K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2141	+0.813%	$98K	—	150x	as long as short
dYdX ENA-USD	+0.0024%	1h	0.2139	+0.758%	$141K	$15K	5x	as long as short
Orderly PERP_ENA_USDC	+0.0032%	4h	0.2140	+0.776%	$41K	$23K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.004%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0058%	1h	0.2140	+0.786%	$380K	$416K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2145	+1.021%	$63K	$520K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2142	+0.891%	$711K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2143	+0.919%	$1.6M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2141	+0.846%	$421K	$549K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2141	+0.845%	$132.9M	$444.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2142	+0.884%	$88.5M	$187.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2143	+0.913%	$21.0M	$110.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2141	+0.814%	$15K	$409K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2145	+1.021%	$106K	$242K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2143	+0.927%	$90K	−$0	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2141	+0.847%	$10.9M	$20.9M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2142	+0.884%	$46.1M	$44.5M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2142	+0.889%	$24.6M	$16.5M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2142	+0.866%	$48.6M	$61.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2143	+0.913%	—	$32.6M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2123	long leg	$3.8M	$10.1M	—
edgeX ENAUSDC	+0.0100%	4h	0.2123	−0.032%	$248K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.016%	$357K	$4.7M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2116	−0.345%	$34K	$687K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2143	+0.936%	$180K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2089	−1.621%	$1K	$830K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2139	+0.738%	$4K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2142	+0.875%	$278K	$1.2M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2139	+0.738%	$1.9M	$9.4M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2140	+0.792%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2140	+0.786%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2116	−0.354%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0216%	1h	0.2147	+1.092%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0233%	1h	0.2140	+0.791%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0272%	1h	0.2143	+0.926%	$1.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0332% / S −0.0206%	1h	0.2140	+0.803%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	+0.837%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2140	+0.777%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2143	+0.946%	$848K	$1.8M	50x	as long as short
Lighter ENA	+0.0712%	1h	0.2144	+0.974%	$5.7M	$12.6M	10x	as long as short
Hyperliquid ENA	+0.0741%	1h	0.2144	+0.964%	$115.6M	$75.4M	10x	as long as short