Funding arb · Price arb /

ENA

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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: KuCoin against Variational Omni−0.140%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 Variational Omni Short on KuCoin

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+0.167%+$17 · spread now −0.140%, 7d avg +0.013%

Together, before fees+0.167%+ Points / potential airdropVariational Omni: Active · farm board+$17 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: KuCoin is 0.153% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 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	Variational Omni ENA	0.2122	0.0100	pay 0.0050% / 4h	3h 51m	$3.9M	$10.1M	—
Short	KuCoin ENAUSDTM	0.2119	0.0100	get 0.0050% / 4h	3h 51m	$24.3M	$16.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → +0.013%: −$15.27
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$27.27
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; KuCoin: live order book, 7 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, 2 min ago	4.72 bp	doesn't fit	18.9 bp −$189	61.3 bp −$6,129	doesn't fit
Sell KuCoin live order book, 7 min ago	1.18 bp	12.0 bp −$12	27.4 bp −$274	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
Backpack ENA_USDC_PERP	−0.0074%	1h	0.2117	−0.196%	$376K	$419K	5x	as long as short
dYdX ENA-USD	0.0000%	1h	0.2117	−0.193%	$140K	$15K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2117	−0.215%	$94K	$1.7M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2120	−0.094%	$104K	—	150x	as long as short
Orderly PERP_ENA_USDC	+0.0017%	4h	0.2116	−0.281%	$41K	$24K	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.087%	$522	$57K	5.5x	as long as short
Gate ENA_USDT	+0.0092%	4h	0.2116	−0.272%	$10.8M	$20.6M	50x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2119	−0.121%	$63K	$525K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2119	−0.118%	$680K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2118	−0.168%	$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	0.2117	−0.202%	$410K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2117	−0.196%	$131.4M	$448.1M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2117	−0.225%	$89.1M	$188.0M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	−0.196%	$20.6M	$109.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2122	+0.030%	$15K	$394K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2121	−0.027%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2126	+0.209%	$90K	−$0	10x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2117	−0.229%	$46.2M	$44.0M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2119	−0.140%	$24.3M	$16.6M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2114	−0.347%	$48.0M	$62.8M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.239%	—	$32.6M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2122	long leg	$3.9M	$10.1M	—
edgeX ENAUSDC	+0.0100%	4h	0.2124	+0.128%	$246K	$7.5M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2124	+0.115%	$359K	$4.7M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2124	+0.115%	$34K	$713K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2119	−0.102%	$181K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2071	−2.388%	$1K	$828K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	−0.262%	$4K	$11K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2123	+0.077%	$275K	$1.4M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	−0.262%	$2.0M	$9.3M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2117	−0.216%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	−0.229%	$74K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2124	+0.091%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0208%	1h	0.2122	+0.035%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0236%	1h	0.2117	−0.197%	$2.7M	$5.1M	50x	as long as short
Extended ENA-USD	+0.0248%	1h	0.2116	−0.258%	$1.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2119	−0.100%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2120	−0.069%	$5.6M	$4.7M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2119	−0.134%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0608%	1h	0.2121	−0.022%	$838K	$1.9M	50x	as long as short
Lighter ENA	+0.0632%	1h	0.2120	−0.083%	$5.6M	$12.5M	10x	as long as short
Hyperliquid ENA	+0.0650%	1h	0.2119	−0.107%	$114.3M	$76.2M	10x	as long as short