Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0883%/8h= −96.7% APRpaid last 24h −0.132%

Price spread now: Phoenix against edgeX+0.042%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$450.445% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−1.169%−$117 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.042%, 7d avg +0.014%

Together, before fees−1.293%+ Points / potential airdropedgeX: Active · farm board−$129 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.028% dearer against edgeX than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.014%): +$3 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SNDKUSDC	1,766	0.0883	pay 0.0441% / 4h	1h 56m	$561K	$351K	10x
Short	Phoenix SNDK	1,766.7	0	get 0.0000% / 1h	56m 05s	$275K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$185.43
Price spread: +0.042% → +0.014%: $2.75
Slippage, 4 orders: −$28.54
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$227.21
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from edgeX: live order book, 53 min ago; Phoenix: live order book, 49 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 edgeX live order book, 53 min ago	5.06 bp	9.6 bp −$10	11.3 bp −$113	47.0 bp −$4,697	doesn't fit
Sell Phoenix live order book, 49 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	−0.0217%	8h	1,762	−0.227%	$47.3M	$165.2M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,763.6	−0.136%	$3.9M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0018%	8h	1,761.5	−0.251%	$6.0M	$22.2M	20x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,762.3	−0.206%	$1.4M	$10.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,762.7	−0.187%	$21.5M	$33.2M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,761.4	−0.258%	$279.3M	$1.85B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,761.6	−0.247%	$31.7M	$103.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,761.7	−0.241%	$82.0M	$833.1M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,763.6	−0.132%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,761.5	−0.256%	$176.7M	$229.9M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNDK	0.0000%	8h	1,767.2	+0.071%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,767	+0.057%	$12K	$1.9M	10x	as long as short
Phoenix SNDKshort	0.0000%	1h	1,766.7	+0.042%	$275K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,761.6	−0.245%	$14K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,761.3	−0.266%	$926	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,761.1	−0.277%	$51K	$350K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,761.2	−0.271%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,761.5	−0.252%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0015%	1h	1,765.6	−0.022%	$657	$38K	5x	as long as short
Vest SNDK-USD-PERP	+0.0018%	1h	1,760.7	−0.296%	—	$581K	10x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,761.8	−0.236%	$1.3M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,761.1	−0.275%	$481K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.925%	$36	$9K	12x	as long as short
Lighter SNDK	+0.0040%	1h	1,762.2	−0.211%	$1.8M	$16.2M	20x	as long as short
Nado SNDK-PERP	+0.0040%	1h	1,762.1	−0.220%	$328K	$1.5M	10x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,764.1	−0.104%	$258K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,762.3	−0.207%	$243K	$675K	20x	as long as short
SoDEX SNDK-USD	+0.0048%	1h	1,761.4	−0.259%	$720K	$520K	10x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,761.5	−0.253%	$118.6M	$158.4M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,764.6	−0.077%	$4.7M	$19.9M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,760.8	−0.292%	$184K	$131K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,762.9	−0.171%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,765.6	−0.021%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,761.4	−0.258%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,763.6	−0.134%	$196K	$303K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,767.4	+0.082%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,761.1	−0.278%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,766.2	+0.014%	$432K	$2.3M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,761.7	−0.242%	$127K	$347K	20x	as long as short
edgeX SNDKUSDClong	+0.0883%	4h	1,766	long leg	$561K	$351K	10x