Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.036%

Price spread now: Entropy against Bybit−0.023%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$360.365% of the position

Long on Bybit Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days−0.008%−$1 · spread now −0.023%, 7d avg −0.078%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Entropy is 0.055% dearer against Bybit than usual: you sell high and buy low (spread −0.023% now, against its 7-day average of −0.078%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SNDKUSDT	1,773.9	0	get 0.0000% / 8h	1h 15m	$31.8M	$105.4M	100x
Short	Entropy io:SNDK	1,773.5	−0.0058	pay 0.0007% / 1h	15m 54s	$4.5M	$20.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Bybit. 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 BybitbpFee EntropybpOrdersPrice spread, now −0.023%Rate

Funding earned: −$12.22
Price spread: −0.023% → −0.078%: $5.46
Slippage, 4 orders: −$7.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$43.25
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Entropy: live order book, 1 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 Bybit live order book, 3 min ago	0.03 bp	8.4 bp −$8	15.8 bp −$158	44.8 bp −$4,485	doesn't fit
Sell Entropy live order book, 1 min ago	0.28 bp	10.6 bp −$11	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	1,773	−0.053%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDKshort	−0.0058%	1h	1,773.5	−0.023%	$4.5M	$20.5M	10x
QFEX SNDK-USD	−0.0007%	1h	1,773.2	−0.041%	$2.2M	$21.8M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,774.2	+0.014%	$21.9M	$46.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,773.8	−0.009%	$285.3M	$1.88B	75x	as long as short
Bybit SNDKUSDTlong	0.0000%	8h	1,773.9	long leg	$31.8M	$105.4M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,773.7	−0.012%	$87.4M	$842.0M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,773.9	−0.003%	$183.2M	$241.7M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,773.8	−0.004%	$49.6M	$169.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,773.8	−0.005%	$2.6M	$4.7M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,773.6	−0.016%	$13K	$1.0M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,773.6	−0.017%	$276K	$195K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,773.7	−0.011%	$14K	$292K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,773.7	−0.010%	$843	$3.9M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,773.6	−0.016%	$49K	$259K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,773.5	−0.024%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,773.9	+0.002%	$2.8M	$983K	50x	as long as short
Aftermath Perps SNDKUSD	+0.0008%	1h	1,774	+0.003%	$785	$37K	5x	as long as short
RISEx SNDK/USDC	+0.0015%	1h	1,774.7	+0.045%	$167K	$1.8M	20x	as long as short
Lighter SNDK	+0.0032%	1h	1,774.6	+0.038%	$1.5M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,774.1	+0.009%	$1.4M	$10.2M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,773.7	−0.012%	$410K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.469%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,773.2	−0.042%	$284K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,773.3	−0.035%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,773.8	−0.006%	$245K	$670K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,773.7	−0.012%	$113.0M	$151.6M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,773.4	−0.029%	$197K	$89K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,773.7	−0.013%	$725K	$538K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,773.5	−0.021%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,773.5	−0.023%	$1.4M	$4.9M	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0056%	1h	1,774.8	+0.049%	$441K	$2.4M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,773.3	−0.036%	$1K	—	10x	as long as short
Nado SNDK-PERP	+0.0095%	1h	1,774.1	+0.009%	$386K	$1.4M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,773.7	−0.011%	$213K	$283K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,773.4	−0.028%	$6.0M	$22.5M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,774.5	+0.033%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,772.7	−0.069%	$8K	$2K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0386%	1h	1,774.2	+0.017%	$129K	$413K	20x	as long as short
edgeX SNDKUSDC	+0.0597%	4h	1,773.9	+0.001%	$563K	$355K	10x	as long as short