Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.009%

Price spread now: Phemex against Coinbase International−0.049%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$630.631% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.049%, 7d avg −0.006%

Together, before fees−0.142%−$14 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 0.042% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SNDK-PERP-INTX	1,787.8	0.0088	pay 0.0011% / 1h	41m 07s	$440K	$2.3M	10x
Short	Phemex SNDKUSDT	1,786.9	0	get 0.0000% / 8h	6h 41m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$18.48
Price spread: −0.049% → −0.006%: −$4.23
Slippage, 4 orders: −$41.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$85.77
Costs to cover: 0.631%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Phemex: live order book, 3 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 Coinbase International live order book, 3 min ago	2.13 bp	7.4 bp −$7	12.2 bp −$122	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.04 bp	30.6 bp −$31	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	+0.012%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDK	−0.0099%	1h	1,787.5	−0.016%	$4.9M	$20.5M	10x	as long as short
Phoenix SNDK	−0.0045%	1h	1,787.9	+0.006%	$278K	$193K	15x	as long as short
QFEX SNDK-USD	−0.0024%	1h	1,787.1	−0.039%	$1.8M	$17.4M	10x	as long as short
Deribit SNDK_USDC-PERPETUAL	−0.0019%	1h	1,787	−0.047%	$51K	$328K	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,788.5	+0.039%	$21.8M	$40.0M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,787.2	−0.034%	$286.6M	$1.82B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,787.7	−0.004%	$32.0M	$99.8M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,787.5	−0.016%	$86.0M	$831.0M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,787.4	−0.020%	$180.9M	$231.2M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNDKUSDT	0.0000%	8h	1,787.3	−0.028%	$47.5M	$164.2M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,786.9	−0.049%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,788.1	+0.015%	$22K	$1.1M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,787	−0.042%	$14K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,786.2	−0.088%	$727	$3.7M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,786.9	−0.048%	$1.5M	$10.4M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,786.9	−0.049%	$2.8M	$1.1M	50x
Nado SNDK-PERP	+0.0002%	1h	1,787.9	+0.008%	$363K	$1.4M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0005%	1h	1,788	+0.010%	$683	$37K	5x	as long as short
tradeXYZ xyz:SNDK	+0.0015%	1h	1,787.2	−0.033%	$114.5M	$146.6M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,788	+0.010%	$1.7M	$16.1M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,787.6	−0.012%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.8	−0.053%	$469K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.681%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,786.8	−0.058%	$307K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,786.6	−0.065%	—	$584K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,787.7	−0.005%	$246K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,787.1	−0.038%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,786.8	−0.055%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,787.2	−0.036%	$731K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,787.3	−0.027%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,786.8	−0.053%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTXlong	+0.0088%	1h	1,787.8	long leg	$440K	$2.3M	10x
Pacifica SNDK	+0.0100%	1h	1,787.4	−0.023%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,787.5	−0.018%	$6.1M	$21.5M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,787.9	+0.006%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,786.7	−0.059%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0131%	1h	1,787.7	−0.004%	$130K	$364K	20x	as long as short
RISEx SNDK/USDC	+0.0257%	1h	1,788.5	+0.038%	$171K	$1.8M	20x	as long as short
edgeX SNDKUSDC	+0.0279%	4h	1,787.4	−0.024%	$568K	$351K	10x	as long as short