Funding arb · Price arb /

SNDK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0258%/8h= +28.3% APRpaid last 24h +0.024%

Price spread now: Aster against Deribit+0.005%55s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$390.388% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.063%+$6 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now +0.005%, 7d avg +0.004%

Together, before fees+0.162%+ Points / potential airdropAster: Stage 5 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.063% in total (about 6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SNDK_USDC-PERPETUAL	1,769.8	−0.0258	get 0.0032% / 1h	20m 31s	$49K	$227K	10x
Short	Aster SNDKUSD1	1,769.9	0	get 0.0000% / 8h	2h 20m	$21.8M	$39.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.005%Rate

Funding earned: $54.24
Price spread: +0.005% → +0.004%: $0.11
Slippage, 4 orders: −$23.76
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $15.59
Costs to cover: 0.388%
Break-even: 5.0 days

Slippage from Deribit: live order book, 3 min ago; Aster: 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 Deribit live order book, 3 min ago	1.92 bp	11.2 bp −$11	15.3 bp −$153	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.40 bp	6.2 bp −$6	11.0 bp −$110	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
Deribit SNDK_USDC-PERPETUALlong	−0.0258%	1h	1,769.8	long leg	$49K	$227K	10x
BloFin SNDK-USDT	−0.0120%	8h	1,770.1	+0.015%	$4.1M	$4.5M	75x	as long as short
Arcus SNDK-USD	−0.0085%	1h	1,769.7	−0.010%	$283K	$1.7M	10x	as long as short
Phoenix SNDK	−0.0045%	1h	1,770.2	+0.020%	$276K	$195K	15x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,769.8	−0.002%	$2.2M	$21.9M	10x	as long as short
Aster SNDKUSD1short	0.0000%	8h	1,769.9	+0.005%	$21.8M	$39.7M	20x
Binance SNDKUSDT	0.0000%	8h	1,770.2	+0.021%	$286.8M	$1.90B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,769.9	+0.005%	$31.6M	$105.8M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,769.7	−0.008%	$87.8M	$846.9M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,770.9	+0.058%	$162K	$1.8M	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,770	+0.008%	$183.9M	$244.8M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,769.9	+0.001%	$49.8M	$171.2M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,769.9	+0.005%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,769.7	−0.010%	$10K	$1.0M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,769.5	−0.019%	$14K	$294K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,769.4	−0.027%	$902	$4.0M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,770	+0.007%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,770.2	+0.018%	$2.8M	$937K	50x	as long as short
Aftermath Perps SNDKUSD	+0.0002%	1h	1,770.1	+0.017%	$709	$37K	5x	as long as short
edgeX SNDKUSDC	+0.0022%	4h	1,769.5	−0.019%	$562K	$354K	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,770.6	+0.045%	$1.5M	$16.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,770.6	+0.043%	$1.4M	$10.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,770	+0.009%	$410K	$1.8M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.702%	$36	$19K	12x	as long as short
Vest SNDK-USD-PERP	+0.0037%	1h	1,769.5	−0.018%	—	$670K	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0040%	1h	1,769.6	−0.013%	$434K	$2.4M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,769.7	−0.008%	$244K	$680K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,769.9	+0.003%	$111.9M	$151.8M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,769.8	−0.002%	$4.5M	$20.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,769.6	−0.014%	$196K	$185K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,770	+0.011%	$724K	$547K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,768.9	−0.053%	$1.4M	$4.8M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0051%	8h	1,770.1	+0.016%	—	—	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0070%	1h	1,770.6	+0.040%	$128K	$414K	20x	as long as short
Nado SNDK-PERP	+0.0072%	1h	1,770.4	+0.032%	$309K	$1.4M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,769.7	−0.007%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,769.8	0.000%	$213K	$291K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,769.1	−0.044%	$6.0M	$22.6M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,769.7	−0.007%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,769.1	−0.045%	$8K	$2K	20x	as long as short