Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against Variational Omni+1.077%89s7-day average −0.004% · you sell dearer than you buy

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

Long on Variational Omni Short on edgeX

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−1.082%−$108 · spread now +1.077%, 7d avg −0.004%

Together, before fees−1.082%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board−$108 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: edgeX is 1.081% dearer against Variational Omni than usual: you sell high and buy low, +$108 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 89 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	0.2109	0.0100	pay 0.0050% / 4h	2h 46m	$3.8M	$10.1M	—
Short	edgeX ENAUSDC	0.2132	0.0100	get 0.0050% / 4h	2h 46m	$244K	$7.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +1.077%Rate

Funding earned: $0
Price spread: +1.077% → −0.004%: $108.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $99.13
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; edgeX: live order book, 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 Variational Omni RFQ quote, 3 min ago	4.69 bp	doesn't fit	18.8 bp −$188	70.4 bp −$7,039	doesn't fit
Sell edgeX live order book, 3 min ago	7.06 bp	11.6 bp −$12	13.1 bp −$131	45.1 bp −$4,514	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	0.2111	+0.072%	$79K	$1.6M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2109	+0.019%	$90K	—	150x	as long as short
dYdX ENA-USD	+0.0027%	1h	0.2116	+0.309%	$140K	$15K	5x	as long as short
01 Exchange ENAUSD	+0.0032%	1h	0.2111	+0.077%	$4K	$302	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.679%	$522	$57K	5.5x	as long as short
Orderly PERP_ENA_USDC	+0.0037%	4h	0.2110	+0.058%	$41K	$23K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2113	+0.172%	$5.5M	$13.6M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2110	+0.044%	$53K	$526K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2109	−0.022%	$695K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2111	+0.087%	$1.5M	$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	0.2112	+0.134%	$414K	$548K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2108	−0.052%	$131.2M	$445.0M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2107	−0.108%	$86.3M	$186.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2107	−0.098%	$20.9M	$108.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2124	+0.731%	$16K	$408K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2112	+0.139%	$115K	$253K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2110	+0.025%	$10.7M	$20.8M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2108	−0.070%	$44.4M	$43.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2108	−0.070%	$24.3M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2104	−0.241%	$47.6M	$61.2M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2109	+0.006%	—	$32.7M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2111	+0.077%	$365K	$383K	5x	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2109	long leg	$3.8M	$10.1M	—
edgeX ENAUSDCshort	+0.0100%	4h	0.2132	+1.077%	$244K	$7.6M	20x
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2130	+0.992%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2131	+1.040%	$32K	$691K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2110	+0.025%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2059	−2.374%	$1K	$845K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2110	+0.044%	$3K	$10K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2117	+0.357%	$274K	$1.0M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2111	+0.091%	$1.9M	$9.4M	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.365%	$93K	$4K	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2112	+0.156%	$47K	$110	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2111	+0.077%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0188%	1h	0.2127	+0.850%	$7K	$351K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0206%	1h	0.2110	+0.034%	$50K	—	100x	as long as short
Kraken Futures PF_ENAUSD	+0.0253%	1h	0.2112	+0.129%	$2.6M	$4.9M	50x	as long as short
Extended ENA-USD	+0.0296%	1h	0.2105	−0.183%	$1.6M	$4.2M	50x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	+1.106%	$5.7M	$2.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2109	−0.024%	$1K	$5K	15x	as long as short
Hyperliquid ENA	+0.0453%	1h	0.2113	+0.167%	$113.8M	$74.4M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0648%	1h	0.2111	+0.087%	$829K	$1.7M	50x	as long as short