Funding arb · Price arb /

ENA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against KuCoin+0.284%7-day average −0.019% · you sell dearer than you buy

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.289%−$29 · spread now +0.284%, 7d avg −0.019%

Together, before fees−0.289%+ Points / potential airdropVariational Omni: Active · farm board−$29 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 0.303% dearer against KuCoin than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ENAUSDTM	0.2143	0.0100	pay 0.0050% / 4h	1h 46m	$24.8M	$15.8M	75x
Short	Variational Omni ENA	0.2149	0.0100	get 0.0050% / 4h	1h 46m	$3.1M	$10.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now +0.284%Rate

Funding earned: $0
Price spread: +0.284% → −0.019%: $30.29
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $18.29
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 3 min ago; Variational Omni: RFQ quote, 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 KuCoin live order book, 3 min ago	3.03 bp	23.7 bp −$24	41.8 bp −$418	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.67 bp	doesn't fit	18.7 bp −$187	56.0 bp −$5,602	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	−0.0135%	4h	0.2141	−0.103%	$44K	$26K	10x	as long as short
01 Exchange ENAUSD	−0.0008%	1h	0.2140	−0.173%	$4K	$277	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2142	−0.075%	$66K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2141	−0.085%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−0.924%	$522	$57K	5.5x	as long as short
dYdX ENA-USD	+0.0044%	1h	0.2142	−0.062%	$141K	$16K	5x	as long as short
Lighter ENA	+0.0096%	1h	0.2144	+0.028%	$5.1M	$13.3M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2139	−0.196%	$57K	$481K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2140	−0.166%	$566K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2145	+0.061%	$115.6M	$76.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ENAUSDT	+0.0100%	4h	0.2144	+0.026%	$1.4M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2141	−0.118%	$404K	$540K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2144	+0.025%	$129.4M	$428.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2144	+0.047%	$85.7M	$181.5M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2144	+0.042%	$21.4M	$109.3M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2140	−0.149%	$20K	$319K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2139	−0.196%	$79K	$281K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2148	+0.236%	$94K	$511	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2143	−0.009%	$12.4M	$26.0M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2143	−0.005%	$48.4M	$42.2M	200x	as long as short
KuCoin ENAUSDTMlong	+0.0100%	4h	0.2143	long leg	$24.8M	$15.8M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2142	−0.047%	$48.7M	$60.1M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2143	+0.009%	—	$31.6M	—	as long as short
Variational Omni ENAshort	+0.0100%	4h	0.2149	+0.284%	$3.1M	$10.2M	—
edgeX ENAUSDC	+0.0100%	4h	0.2142	−0.050%	$256K	$7.1M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2148	+0.224%	$355K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2142	−0.056%	$19K	$649K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2141	−0.121%	$188K	$2.6M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2089	−2.538%	$1K	$898K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2144	+0.037%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2147	+0.159%	$269K	$824K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2141	−0.103%	$1.8M	$8.9M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2140	−0.130%	$48K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2142	−0.046%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2141	−0.084%	$75K	$4K	3x	as long as short
Phoenix ENA	+0.0110%	1h	0.2147	+0.182%	$8K	$276K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0308% / S −0.0753%	1h	0.2141	−0.089%	$59K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2141	−0.112%	$5.7M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2139	−0.193%	$1K	$5K	15x	as long as short
Kraken Futures PF_ENAUSD	+0.0440%	1h	0.2142	−0.036%	$2.6M	$4.3M	50x	as long as short
Coinbase International ENA-PERP-INTX	+0.0616%	1h	0.2149	+0.247%	$886K	$1.8M	50x	as long as short
Backpack ENA_USDC_PERP	+0.0621%	1h	0.2144	+0.037%	$392K	$432K	5x	as long as short