Funding arb · Price arb /

ENA

all ENA markets

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: KuCoin against Variational Omni+0.034%7-day average +0.014% · you sell dearer than you buy

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

Long on Variational Omni Short on KuCoin

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 7 days−0.032%−$3 · spread now +0.034%, 7d avg +0.014%

Together, before fees−0.032%+ Points / potential airdropVariational Omni: Active · farm board−$3 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: KuCoin is 0.020% dearer against Variational Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ENA	0.2115	0.0100	pay 0.0050% / 4h	15m 33s	$3.0M	$10.0M	—
Short	KuCoin ENAUSDTM	0.2115	0.0100	get 0.0050% / 4h	15m 33s	$24.6M	$15.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.014%: $2.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.99
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; KuCoin: live order book, 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 Variational Omni RFQ quote, 4 min ago	7.09 bp	doesn't fit	16.5 bp −$165	68.5 bp −$6,851	doesn't fit
Sell KuCoin live order book, 3 min ago	2.60 bp	14.9 bp −$15	30.0 bp −$300	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
Backpack ENA_USDC_PERP	−0.0147%	1h	0.2116	+0.058%	$363K	$398K	5x	as long as short
Orderly PERP_ENA_USDC	−0.0071%	4h	0.2115	+0.044%	$44K	$25K	10x	as long as short
01 Exchange ENAUSD	−0.0048%	1h	0.2117	+0.133%	$4K	$302	10x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2116	+0.072%	$79K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2115	+0.017%	$82K	—	150x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.417%	$522	$57K	5.5x	as long as short
Phoenix ENA	+0.0076%	1h	0.2119	+0.209%	$8K	$266K	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	+0.067%	$56K	$475K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2115	+0.038%	$47K	$110	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2114	−0.004%	$660K	$1.7M	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	0.2115	+0.023%	$1.5M	$2.9M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2115	+0.037%	$404K	$517K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2116	+0.086%	$128.9M	$416.3M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2116	+0.048%	$85.4M	$175.3M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2117	+0.091%	$20.9M	$103.8M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2117	+0.138%	$18K	$317K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	+0.114%	$79K	$276K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	+0.091%	$93K	$4K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2115	+0.015%	$11.1M	$22.2M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2115	+0.029%	$46.1M	$41.5M	200x	as long as short
KuCoin ENAUSDTMshort	+0.0100%	4h	0.2115	+0.034%	$24.6M	$15.5M	75x
Bitget ENAUSDT	+0.0100%	4h	0.2114	−0.051%	$48.0M	$57.5M	75x	as long as short
BingX ENA-USDC	+0.0100%	4h	0.2115	+0.029%	—	$6.5M	—	as long as short
Variational Omni ENAlong	+0.0100%	4h	0.2115	long leg	$3.0M	$10.0M	—
edgeX ENAUSDC	+0.0100%	4h	0.2117	+0.102%	$245K	$6.9M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2118	+0.155%	$350K	$5.0M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2120	+0.256%	$20K	$648K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2116	+0.062%	$180K	$2.3M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2065	−2.354%	$1K	$848K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2116	+0.067%	$4K	$7K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2118	+0.152%	$274K	$796K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2116	+0.067%	$1.8M	$8.8M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2115	0.000%	$1.6M	$4.2M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2117	+0.096%	$74K	$4K	3x	as long as short
Hyperliquid ENA	+0.0117%	1h	0.2118	+0.148%	$115.4M	$75.1M	10x	as long as short
dYdX ENA-USD	+0.0155%	1h	0.2115	+0.034%	$140K	$15K	5x	as long as short
Lighter ENA	+0.0168%	1h	0.2117	+0.119%	$5.2M	$13.5M	10x	as long as short
Kraken Futures PF_ENAUSD	+0.0242%	1h	0.2117	+0.116%	$2.6M	$4.3M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0306% / S −0.0358%	1h	0.2115	+0.043%	$70K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	+0.133%	$5.6M	$3.0M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2115	+0.006%	$1K	$5K	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0632%	1h	0.2127	+0.583%	$869K	$1.7M	50x	as long as short