Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Variational Omni against Gate+0.400%7-day average −0.004% · you sell dearer than you buy

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days−0.427%−$43 · spread now +0.400%, 7d avg −0.004%

Together, before fees−0.421%+ Points / potential airdropVariational Omni: Active · farm board−$42 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 0.403% dearer against Gate than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ENA_USDT	0.2137	0.0100	pay 0.0050% / 4h	3h 12m	$13.4M	$28.2M	50x
Short	Variational Omni ENA	0.2146	0.0100	get 0.0050% / 4h	3h 12m	$3.1M	$9.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now +0.400%Rate

Funding earned: $0
Price spread: +0.400% → −0.004%: $40.31
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $25.31
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	3.28 bp	13.4 bp −$13	30.3 bp −$303	50.9 bp −$5,088	89.3 bp −$44.6K
Sell Variational Omni RFQ quote, 2 min ago	4.67 bp	doesn't fit	18.7 bp −$187	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
01 Exchange ENAUSD	−0.0112%	1h	0.2136	−0.075%	$4K	$169	10x	as long as short
Orderly PERP_ENA_USDC	−0.0100%	4h	0.2137	−0.033%	$44K	$15K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2138	+0.019%	$76K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2137	−0.026%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	−0.721%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0054%	4h	0.2135	−0.098%	$48.4M	$60.1M	75x	as long as short
dYdX ENA-USD	+0.0080%	1h	0.2137	+0.005%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2138	+0.028%	$5.0M	$13.1M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2136	−0.061%	$55K	$488K	50x	as long as short
Paradex ENA-USD-PERP	+0.0099%	8h	0.2135	−0.087%	$48K	$110	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2136	−0.051%	$566K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2139	+0.078%	$117.0M	$76.6M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2137	−0.027%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2137	−0.029%	$409K	$560K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2137	−0.025%	$128.9M	$424.4M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2137	+0.005%	$88.7M	$191.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2137	−0.037%	$21.1M	$107.1M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2142	+0.239%	$39K	$331K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2136	−0.061%	$79K	$249K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2147	+0.465%	$105K	$12K	10x	as long as short
Gate ENA_USDTlong	+0.0100%	4h	0.2137	long leg	$13.4M	$28.2M	50x
MEXC ENA_USDT	+0.0100%	4h	0.2137	−0.028%	$41.9M	$44.1M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2137	+0.009%	$25.1M	$15.9M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2137	−0.023%	—	$6.5M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2136	−0.075%	$413K	$479K	5x	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2146	+0.400%	$3.1M	$9.1M	—
edgeX ENAUSDC	+0.0100%	4h	0.2142	+0.234%	$253K	$7.2M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2142	+0.220%	$360K	$4.8M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2141	+0.173%	$19K	$644K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2137	+0.009%	$176K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2087	−2.353%	$1K	$922K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2137	−0.014%	$4K	$6K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2140	+0.140%	$265K	$825K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2134	−0.154%	$1.9M	$9.0M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2136	−0.057%	$1.6M	$4.7M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2137	−0.025%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0150%	1h	0.2138	+0.047%	$13K	$267K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0195%	1h	0.2138	+0.011%	$2.6M	$4.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0307% / S −0.0756%	1h	0.2137	−0.018%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2132	−0.239%	$5.5M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2133	−0.194%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0544%	1h	0.2144	+0.290%	$795K	$2.0M	50x	as long as short