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: Variational Omni against HTX−0.142%7-day average −0.095% · you buy dearer than you sell

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

Long on HTX Short on Variational Omni

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 4 days (all we have)−0.618%−$62 · spread now −0.142%, 7d avg −0.095%

Together, before fees−0.618%+ Points / potential airdropVariational Omni: Active · farm board−$62 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 0.048% cheaper against HTX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2100	0.0100	pay 0.0050% / 4h	43m 56s	$272K	$795K	50x
Short	Variational Omni ENA	0.2097	0.0100	get 0.0050% / 4h	43m 56s	$3.1M	$10.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against HTX. 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 HTXbpFee Variational OmnibpOrdersPrice spread, now −0.142%Rate

Funding earned: $0
Price spread: −0.142% → −0.095%: −$4.76
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.76
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 40 min ago; Variational Omni: RFQ quote, just now. 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 HTX live order book, 40 min ago	11.52 bp	31.9 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	4.78 bp	doesn't fit	19.1 bp −$191	66.9 bp −$6,686	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	−0.0318%	1h	0.2101	+0.029%	$367K	$388K	5x	as long as short
01 Exchange ENAUSD	−0.0104%	1h	0.2100	−0.014%	$4K	$302	10x	as long as short
Orderly PERP_ENA_USDC	−0.0061%	4h	0.2100	−0.010%	$44K	$25K	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2100	−0.029%	$78K	$1.2M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2101	+0.017%	$81K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+1.095%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2097	−0.186%	$8K	$266K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2102	+0.067%	$5.2M	$13.4M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2100	−0.019%	$55K	$500K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2097	−0.149%	$47K	$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	0.2101	+0.011%	$661K	$1.6M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2102	+0.090%	$111.9M	$73.0M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2101	+0.024%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2099	−0.052%	$409K	$500K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2099	−0.052%	$128.1M	$415.9M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2098	−0.095%	$85.2M	$175.9M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2099	−0.052%	$20.8M	$102.2M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2093	−0.357%	$20K	$311K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2093	−0.352%	$77K	$275K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2098	−0.124%	$92K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2100	−0.019%	$11.0M	$21.7M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2100	0.000%	$45.7M	$41.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2101	+0.014%	$24.6M	$15.6M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2097	−0.157%	$47.8M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2100	−0.014%	—	$6.5M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2097	−0.142%	$3.1M	$10.1M	—
edgeX ENAUSDC	+0.0100%	4h	0.2093	−0.336%	$241K	$7.0M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2088	−0.590%	$346K	$4.9M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2094	−0.305%	$20K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2101	+0.029%	$178K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2051	−2.361%	$958	$844K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2100	−0.019%	$4K	$7K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2100	long leg	$272K	$795K	50x
Phemex ENAUSDT	+0.0100%	4h	0.2101	+0.029%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2098	−0.124%	$1.6M	$4.1M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2100	−0.036%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0144%	1h	0.2098	−0.136%	$139K	$15K	5x	as long as short
Kraken Futures PF_ENAUSD	+0.0244%	1h	0.2101	+0.033%	$2.6M	$4.2M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0253% / S −0.0213%	1h	0.2101	+0.035%	$51K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2095	−0.252%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2101	+0.024%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2090	−0.490%	$851K	$1.5M	50x	as long as short