Funding you earn now, next payment 06:00 UTC+0.0549%/8h= +60.1% APRpaid last 24h −0.043%
Price spread now: Backpack against Variational Omni+1.450%7-day average +0.034% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.078%+$8 on $10k
+Price spread, last 4 days (all we have)−1.555%−$156 · spread now +1.450%, 7d avg +0.034%
=Together, before fees−1.478%+ Points / potential airdropVariational Omni: Active · farm board−$148 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Backpack is 1.416% dearer against Variational Omni than usual: you sell high and buy low: +$142 more if the spread goes back to its 7-day average of +0.034%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.078% in total (about 7.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni ENA | 0.2139 | 0.0100 | pay 0.0050% / 4h | 2h 18m | $3.1M | $10.0M | — |
| Short | Backpack ENA_USDC_PERP | 0.2170 | 0.0649 | get 0.0081% / 1h | 18m 01s | $365K | $401K | 5x |
Variational Omni ENA
Backpack ENA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $115.23
- Price spread: +1.450% → +0.034%
- $141.59
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $246.81
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Backpack: live order book, 31 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 | 4.63 bp | doesn't fit | 18.5 bp −$185 | 69.4 bp −$6,941 | doesn't fit |
| Sell Backpack live order book, 31 min ago | 0.71 bp | 8.5 bp −$9 | 38.9 bp −$389 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ENA_USDC | −0.0138% | 4h | 0.2169 | +1.399% | $45K | $26K | 10x | as long as short |
| gTrade (Gains Network) ENA/USD | L +0.0004% / S −0.0004% | 1h | 0.2166 | +1.256% | $84K | — | 150x | as long as short |
| Deribit ENA_USDC-PERPETUAL | +0.0027% | 1h | 0.2170 | +1.431% | $70K | $1.1M | 50x | as long as short |
| Injective ENA/USDC PERP | +0.0033% | 1h | 0.2123 | −0.751% | $522 | $57K | 5.5x | as long as short |
| 01 Exchange ENAUSD | +0.0056% | 1h | 0.2165 | +1.207% | $4K | $277 | 10x | as long as short |
| Phemex ENAUSDT | +0.0064% | 4h | 0.2169 | +1.380% | $1.8M | $8.9M | 50x | as long as short |
| Gate ENA_USDT | +0.0084% | 4h | 0.2169 | +1.366% | $11.5M | $24.3M | 50x | as long as short |
| Popdex ENAUSDT | +0.0096% | 1h | 0.2165 | +1.193% | $60K | $468K | 50x | as long as short |
| Nado ENA-PERP | +0.0100% | 1h | 0.2166 | +1.256% | $668K | $1.7M | 10x | as long as short |
| Hyperliquid ENA | +0.0100% | 1h | 0.2172 | +1.506% | $118.0M | $75.0M | 10x | as long as short |
Orderly PERP_ENA_USDC
gTrade (Gains Network) ENA/USD
Deribit ENA_USDC-PERPETUAL
Injective ENA/USDC PERP
01 Exchange ENAUSD
Phemex ENAUSDT
Gate ENA_USDT
Popdex ENAUSDT
Nado ENA-PERP
Hyperliquid ENAShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ENAUSDT | +0.0100% | 4h | 0.2170 | +1.446% | $1.5M | $3.3M | 50x | as long as short |
| Pacifica ENA | +0.0100% | 1h | 0.2166 | +1.257% | $407K | $528K | 10x | as long as short |
| Binance ENAUSDT | +0.0100% | 4h | 0.2170 | +1.429% | $131.8M | $421.3M | 75x | as long as short |
| Bybit ENAUSDT | +0.0100% | 4h | 0.2171 | +1.483% | $87.6M | $176.8M | 50x | as long as short |
| OKX ENA-USDT-SWAP | +0.0100% | 4h | 0.2172 | +1.539% | $21.6M | $107.7M | 50x | as long as short |
| Ondo Perps ENA-USD.P | +0.0100% | 1h | 0.2149 | +0.450% | $21K | $326K | 5x | as long as short |
| Arcus ENA-USD | +0.0100% | 1h | 0.2164 | +1.146% | $80K | $280K | 10x | as long as short |
| MEXC ENA_USDT | +0.0100% | 4h | 0.2170 | +1.413% | $47.8M | $41.6M | 200x | as long as short |
| KuCoin ENAUSDTM | +0.0100% | 4h | 0.2170 | +1.436% | $25.3M | $15.6M | 75x | as long as short |
| Bitget ENAUSDT | +0.0100% | 4h | 0.2168 | +1.343% | $49.3M | $58.3M | 75x | as long as short |
| BingX ENA-USDT | +0.0100% | 4h | 0.2169 | +1.394% | — | $31.0M | — | as long as short |
| Variational Omni ENAlong | +0.0100% | 4h | 0.2139 | long leg | $3.1M | $10.0M | — | |
| edgeX ENAUSDC | +0.0100% | 4h | 0.2142 | +0.120% | $246K | $6.9M | 20x | as long as short |
| GRVT ENA_USDT_Perp | +0.0100% | 4h | 0.2126 | −0.630% | $356K | $5.0M | 10x | as long as short |
| ApeX Omni ENAUSDT | +0.0100% | 1h | 0.2127 | −0.583% | $19K | $651K | 50x | as long as short |
| Polymarket Perps ENA-USD | +0.0100% | 1h | 0.2166 | +1.244% | $192K | $2.5M | 10x | as long as short |
| SunX ENA-USDT | +0.0100% | 4h | 0.2117 | −1.046% | $961 | $880K | 20x | as long as short |
| SoDEX ENA-USD | +0.0100% | 1h | 0.2169 | +1.380% | $4K | $7K | 10x | as long as short |
| HTX ENA-USDT | +0.0100% | 4h | 0.2168 | +1.329% | $272K | $798K | 50x | as long as short |
| Bulk ENA-USD | +0.0100% | 1h | 0.2132 | −0.373% | $94K | −$0 | 10x | as long as short |
| Paradex ENA-USD-PERP | +0.0100% | 8h | 0.2166 | +1.243% | $48K | $110 | 10x | as long as short |
| Extended ENA-USD | +0.0104% | 1h | 0.2168 | +1.354% | $1.6M | $4.3M | 50x | as long as short |
| Aevo ENA-PERP | +0.0104% | 1h | 0.2166 | +1.220% | $76K | $4K | 3x | as long as short |
| Phoenix ENA | +0.0153% | 1h | 0.2155 | +0.749% | $8K | $278K | 10x | as long as short |
| Kraken Futures PF_ENAUSD | +0.0158% | 1h | 0.2171 | +1.456% | $2.7M | $4.3M | 50x | as long as short |
| dYdX ENA-USD | +0.0261% | 1h | 0.2167 | +1.287% | $143K | $16K | 5x | as long as short |
| Lighter ENA | +0.0272% | 1h | 0.2172 | +1.525% | $5.4M | $13.1M | 10x | as long as short |
| GMX ENA/USD [ETH-USDC] | L +0.0309% / S −0.0753% | 1h | 0.2166 | +1.259% | $59K | — | 100x | as long as short |
| BloFin ENA-USDT | +0.0340% | 4h | 0.2165 | +1.184% | $5.6M | $3.2M | 75x | as long as short |
| Reya ENARUSDPERP | +0.0412% | 1h | 0.2165 | +1.210% | $1K | $5K | 15x | as long as short |
| Backpack ENA_USDC_PERPshort | +0.0649% | 1h | 0.2170 | +1.450% | $365K | $401K | 5x | |
| Coinbase International ENA-PERP-INTX | +0.0704% | 1h | 0.2170 | +1.450% | $891K | $1.8M | 50x | as long as short |
Aster ENAUSDT
Pacifica ENA
Binance ENAUSDT
Bybit ENAUSDT
OKX ENA-USDT-SWAP
Ondo Perps ENA-USD.P
Arcus ENA-USD
MEXC ENA_USDT
KuCoin ENAUSDTM
Bitget ENAUSDT
BingX ENA-USDT
edgeX ENAUSDC
GRVT ENA_USDT_Perp
ApeX Omni ENAUSDT
Polymarket Perps ENA-USD
SunX ENA-USDT
SoDEX ENA-USD
HTX ENA-USDT
Bulk ENA-USD
Paradex ENA-USD-PERP
Extended ENA-USD
Aevo ENA-PERP
Phoenix ENA
Kraken Futures PF_ENAUSD
dYdX ENA-USD
Lighter ENA
GMX ENA/USD [ETH-USDC]
BloFin ENA-USDT
Reya ENARUSDPERP
Coinbase International ENA-PERP-INTX