Funding arb · Price arb /

ENA

all ENA markets

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: BingX against Variational Omni+0.143%7-day average −0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on BingX

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−0.140%−$14 · spread now +0.143%, 7d avg −0.006%

Together, before fees−0.140%+ Points / potential airdropVariational Omni: Active · farm board−$14 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: BingX is 0.149% dearer against Variational Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENA	0.2174	0.0100	pay 0.0050% / 4h	2h 15m	$3.1M	$10.1M	—
Short	BingX ENA-USDC	0.2177	0.0100	get 0.0050% / 4h	2h 15m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. 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 Variational OmnibpFee BingXbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → −0.006%: $14.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $4.95
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; BingX: live order book, 5 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, 4 min ago	4.63 bp	doesn't fit	18.5 bp −$185	69.4 bp −$6,941	doesn't fit
Sell BingX live order book, 5 min ago	0.70 bp	13.6 bp −$14	34.4 bp −$344	76.9 bp −$7,695	474.7 bp −$237.3K

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	−0.0139%	4h	0.2182	+0.368%	$45K	$26K	10x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2177	+0.168%	$84K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	−2.318%	$522	$57K	5.5x	as long as short
Phemex ENAUSDT	+0.0039%	4h	0.2180	+0.286%	$1.8M	$8.9M	50x	as long as short
01 Exchange ENAUSD	+0.0056%	1h	0.2177	+0.125%	$4K	$277	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2180	+0.286%	$53K	$475K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2179	+0.253%	$565K	$1.8M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2180	+0.279%	$118.1M	$75.4M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2180	+0.264%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2172	−0.070%	$408K	$528K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ENAUSDT	+0.0100%	4h	0.2180	+0.276%	$132.4M	$423.6M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2179	+0.226%	$88.1M	$177.7M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2180	+0.263%	$21.8M	$108.7M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2177	+0.134%	$21K	$330K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2177	+0.148%	$81K	$280K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2177	+0.143%	$11.5M	$24.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2178	+0.194%	$47.8M	$41.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2178	+0.194%	$25.4M	$15.7M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2181	+0.332%	$49.6M	$58.5M	75x	as long as short
BingX ENA-USDCshort	+0.0100%	4h	0.2177	+0.143%	—	$6.5M	—
Variational Omni ENAlong	+0.0100%	4h	0.2174	long leg	$3.1M	$10.1M	—
edgeX ENAUSDC	+0.0100%	4h	0.2172	−0.080%	$255K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2163	−0.477%	$362K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2173	−0.036%	$20K	$650K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2180	+0.286%	$193K	$2.5M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2130	−2.019%	$1K	$883K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2180	+0.286%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2188	+0.635%	$274K	$806K	50x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2132	−1.946%	$94K	−$0	10x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2171	−0.107%	$49K	$110	10x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2182	+0.358%	$1.6M	$4.3M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2182	+0.362%	$76K	$4K	3x	as long as short
Phoenix ENA	+0.0153%	1h	0.2174	+0.019%	$8K	$278K	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0158%	1h	0.2181	+0.318%	$2.7M	$4.3M	50x	as long as short
dYdX ENA-USD	+0.0244%	1h	0.2172	−0.095%	$143K	$16K	5x	as long as short
Deribit ENA_USDC-PERPETUAL	+0.0254%	1h	0.2183	+0.424%	$70K	$1.1M	50x	as long as short
Lighter ENA	+0.0256%	1h	0.2182	+0.359%	$5.2M	$13.3M	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0310% / S −0.0753%	1h	0.2177	+0.134%	$60K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2180	+0.281%	$5.6M	$3.2M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2179	+0.237%	$1K	$5K	15x	as long as short
Backpack ENA_USDC_PERP	+0.0662%	1h	0.2174	+0.019%	$367K	$402K	5x	as long as short
Coinbase International ENA-PERP-INTX	+0.0704%	1h	0.2183	+0.442%	$895K	$1.8M	50x	as long as short