Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: Phoenix against Bybit+0.238%105s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.406% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.334%−$33 · spread now +0.238%, 7d avg −0.005%

Together, before fees−0.445%−$45 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: Phoenix is 0.243% dearer against Bybit than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SNDKUSDT	1,757.8	0	get 0.0000% / 8h	2h 33m	$31.5M	$102.9M	100x
Short	Phoenix SNDK	1,762	0	get 0.0000% / 1h	33m 42s	$274K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → −0.005%: $24.33
Slippage, 4 orders: −$22.61
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$16.28
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Bybit: live order book, 10 min ago; Phoenix: live order book, 12 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, 10 min ago	1.02 bp	7.2 bp −$7	9.3 bp −$93	39.3 bp −$3,934	doesn't fit
Sell Phoenix live order book, 12 min ago	3.96 bp	12.7 bp −$13	27.5 bp −$275	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
Bitget SNDKUSDT	−0.0180%	8h	1,757.6	−0.010%	$44.3M	$161.7M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,761.8	+0.226%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0046%	8h	1,757.7	−0.009%	$6.0M	$22.1M	20x	as long as short
Entropy io:SNDK	−0.0025%	1h	1,759.5	+0.096%	$4.7M	$19.8M	10x	as long as short
Nado SNDK-PERP	−0.0006%	1h	1,760.1	+0.131%	$335K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0004%	1h	1,756.9	−0.054%	$1.4M	$10.8M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,758.5	+0.039%	$21.6M	$33.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,757.4	−0.026%	$279.2M	$1.83B	75x	as long as short
Bybit SNDKUSDTlong	0.0000%	8h	1,757.8	long leg	$31.5M	$102.9M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,757.1	−0.040%	$81.7M	$824.9M	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	1,758.2	+0.021%	$120K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,757.4	−0.024%	$175.6M	$230.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,761.8	+0.228%	$2.5M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,763.1	+0.300%	$14K	$1.7M	10x	as long as short
Phoenix SNDKshort	0.0000%	1h	1,762	+0.238%	$274K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,759.3	+0.085%	$14K	$286K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,759.5	+0.098%	$998	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,759.2	+0.081%	$51K	$347K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,759.1	+0.071%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,759.7	+0.105%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0011%	1h	1,757.8	−0.001%	—	$584K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0013%	1h	1,762.8	+0.285%	$656	$37K	5x	as long as short
Pacifica SNDK	+0.0024%	1h	1,757.2	−0.033%	$195K	$304K	10x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,757.3	−0.028%	$1.3M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,756.8	−0.060%	$423K	$1.9M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.398%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,759.9	+0.120%	$262K	$1.4M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,757.1	−0.040%	$242K	$656K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,757.2	−0.034%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,757.2	−0.035%	$117.4M	$155.3M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,759.2	+0.079%	$184K	$132K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,759.6	+0.099%	$719K	$513K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,759.9	+0.119%	$1.4M	$5.1M	5x	as long as short
edgeX SNDKUSDC	+0.0066%	4h	1,763	+0.295%	$560K	$352K	10x	as long as short
Lighter SNDK	+0.0072%	1h	1,757.9	+0.005%	$1.8M	$16.0M	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0072%	1h	1,765	+0.411%	$433K	$2.3M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,759	+0.068%	$1K	—	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,764.8	+0.396%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,758.3	+0.026%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0122%	1h	1,759.4	+0.090%	$127K	$354K	20x	as long as short