Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against ApeX Omni−0.087%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.230%−$23 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.087%, 7d avg −0.013%

Together, before fees−0.206%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.073% cheaper against ApeX Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SNDKUSDT	1,788.4	0.0100	pay 0.0013% / 1h	29m 36s	$69K	$270K	50x
Short	Phemex SNDKUSDT	1,786.8	0	get 0.0000% / 8h	5h 29m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$21
Price spread: −0.087% → −0.013%: −$7.33
Slippage, 4 orders: −$55.57
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$105.9
Costs to cover: 0.776%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 32 min ago; Phemex: live order book, 4 min ago.

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 ApeX Omni live order book, 32 min ago	7.73 bp	12.7 bp −$13	34.7 bp −$347	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.60 bp	24.2 bp −$24	doesn't fit	doesn't fit	doesn't fit

SNDK on 40 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
BloFin SNDK-USDT	−0.0120%	8h	1,788	−0.017%	$4.1M	$4.4M	75x	as long as short
Phoenix SNDK	−0.0090%	1h	1,787.1	−0.070%	$278K	$193K	15x	as long as short
Deribit SNDK_USDC-PERPETUAL	−0.0074%	1h	1,787.2	−0.066%	$51K	$338K	10x	as long as short
Entropy io:SNDK	−0.0051%	1h	1,787.1	−0.070%	$4.9M	$20.2M	10x	as long as short
Nado SNDK-PERP	−0.0034%	1h	1,788.7	+0.020%	$360K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,786.8	−0.089%	$1.5M	$14.7M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,787.2	−0.065%	$21.8M	$37.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,786.9	−0.082%	$285.5M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,787.3	−0.058%	$32.1M	$99.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,787.2	−0.064%	$85.1M	$823.0M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx SNDK/USDC	0.0000%	1h	1,788.2	−0.011%	$170K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,787.2	−0.067%	$180.3M	$230.8M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,786.8	−0.089%	$43.8M	$161.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,787.9	−0.026%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,788	−0.020%	$10K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,787	−0.075%	$14K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,787.1	−0.069%	$590	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,786.7	−0.092%	$1.4M	$10.8M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,786.8	−0.087%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0004%	1h	1,787.6	−0.042%	$665	$38K	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,785.7	−0.148%	$439K	$2.3M	10x	as long as short
tradeXYZ xyz:SNDK	+0.0029%	1h	1,786.7	−0.092%	$114.5M	$145.7M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,788.1	−0.015%	$1.7M	$16.1M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,787.6	−0.040%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,787.3	−0.062%	$467K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.649%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,786.2	−0.121%	$313K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,787.2	−0.062%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,787.1	−0.070%	$246K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,786.7	−0.093%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,786.6	−0.098%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,786.9	−0.082%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.5	−0.103%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,787.3	−0.061%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,786.6	−0.099%	$1K	—	10x	as long as short
KuCoin SNDKUSDTM	+0.0085%	8h	1,786.5	−0.103%	$6.1M	$21.7M	20x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786.9	−0.081%	$199K	$289K	10x	as long as short
ApeX Omni SNDKUSDTlong	+0.0100%	1h	1,788.4	long leg	$69K	$270K	50x
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,786.3	−0.114%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0871%	4h	1,787.7	−0.034%	$568K	$353K	10x	as long as short