Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Variational Omni against Bybit+0.159%7-day average +0.021% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days−0.181%−$18 · spread now +0.159%, 7d avg +0.021%

Together, before fees−0.179%+ Points / potential airdropVariational Omni: Active · farm board−$18 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 0.139% dearer against Bybit than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ENAUSDT	0.2122	0.0100	pay 0.0050% / 4h	42m 25s	$89.0M	$190.9M	50x
Short	Variational Omni ENA	0.2126	0.0100	get 0.0050% / 4h	42m 25s	$3.9M	$10.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.021%: $13.88
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $2.88
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 2 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 Bybit live order book, 2 min ago	0.23 bp	10.1 bp −$10	19.6 bp −$196	57.6 bp −$5,764	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	7.06 bp	doesn't fit	16.5 bp −$165	49.4 bp −$4,945	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	−0.0026%	4h	0.2124	+0.071%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2125	+0.146%	$92K	$1.8M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2124	+0.067%	$106K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.057%	$522	$57K	5.5x	as long as short
Backpack ENA_USDC_PERP	+0.0094%	1h	0.2126	+0.193%	$375K	$448K	5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2123	+0.038%	$63K	$523K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2124	+0.080%	$683K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2125	+0.147%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2125	+0.149%	$411K	$567K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2123	+0.030%	$131.2M	$454.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDTlong	+0.0100%	4h	0.2122	long leg	$89.0M	$190.9M	50x
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2122	+0.014%	$20.5M	$111.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2126	+0.160%	$15K	$400K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2125	+0.132%	$84K	$221K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2125	+0.154%	$90K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2125	+0.137%	$10.9M	$21.3M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2122	+0.014%	$46.9M	$45.4M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2124	+0.080%	$24.5M	$16.3M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2121	−0.038%	$48.1M	$64.7M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2122	+0.005%	—	$6.5M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2126	+0.159%	$3.9M	$10.3M	—
edgeX ENAUSDC	+0.0100%	4h	0.2125	+0.149%	$253K	$7.7M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2125	+0.138%	$354K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2126	+0.179%	$32K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2123	+0.033%	$179K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2074	−2.295%	$669	$824K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2125	+0.132%	$4K	$14K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2130	+0.368%	$277K	$1.5M	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2125	+0.132%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2124	+0.083%	$48K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2125	+0.124%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.325%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0200%	1h	0.2124	+0.080%	$4K	$302	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0240%	1h	0.2126	+0.171%	$2.7M	$5.5M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2123	+0.043%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2125	+0.113%	$5.6M	$7.0M	75x	as long as short
Extended ENA-USD	+0.0344%	1h	0.2124	+0.063%	$1.6M	$4.2M	50x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2122	−0.001%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2135	+0.580%	$843K	$2.1M	50x	as long as short
Lighter ENA	+0.0640%	1h	0.2127	+0.226%	$5.6M	$12.9M	10x	as long as short
Hyperliquid ENA	+0.0852%	1h	0.2127	+0.217%	$114.3M	$78.9M	10x	as long as short
dYdX ENA-USD	+0.1749%	1h	0.2127	+0.207%	$140K	$15K	5x	as long as short