Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0029%/8h= +3.1% APRpaid last 24h +0.015%

Price spread now: GRVT against Entropy+0.052%48s7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as 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−$340.337% of the position

Long on Entropy Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 4 days (all we have)−0.214%−$21 · spread now +0.052%, 7d avg +0.038%

Together, before fees−0.104%+ Points / potential airdropGRVT: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 48 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	Entropy io:SNDK	1,784.6	−0.0029	get 0.0004% / 1h	0m 48s	$4.9M	$20.4M	10x
Short	GRVT SNDK_USDT_Perp	1,785.5	0	get 0.0000% / 8h	6h 00m	$19K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Entropy. 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 EntropybpFee GRVTbpOrdersPrice spread, now +0.052%Rate

Funding earned: $6.01
Price spread: +0.052% → +0.038%: $1.43
Slippage, 4 orders: −$6.7
Fee Entropy: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$26.26
Costs to cover: 0.337%
Break-even: 37.6 days

Slippage from Entropy: live order book, 6 min ago; GRVT: live order book, 2 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 Entropy live order book, 6 min ago	0.56 bp	11.2 bp −$11	12.9 bp −$129	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	0.42 bp	5.2 bp −$5	7.2 bp −$72	doesn't fit	doesn't fit

SNDK on 39 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
Phoenix SNDK	−0.0045%	1h	1,784.7	+0.006%	$278K	$193K	15x	as long as short
Nado SNDK-PERP	−0.0033%	1h	1,785.9	+0.075%	$359K	$1.4M	10x	as long as short
Entropy io:SNDKlong	−0.0029%	1h	1,784.6	long leg	$4.9M	$20.4M	10x
QFEX SNDK-USD	−0.0024%	1h	1,784.5	−0.004%	$1.6M	$15.6M	10x	as long as short
tradeXYZ xyz:SNDK	−0.0006%	1h	1,784.2	−0.022%	$114.4M	$145.9M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,785.2	+0.034%	$21.8M	$37.1M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,784	−0.034%	$285.4M	$1.81B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,784.6	0.000%	$32.1M	$99.7M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,784.1	−0.028%	$85.3M	$821.5M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,784.2	−0.022%	$180.5M	$232.7M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNDKUSDT	0.0000%	8h	1,784	−0.033%	$43.8M	$163.6M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,784.2	−0.020%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perpshort	0.0000%	8h	1,785.5	+0.052%	$19K	$1.2M	10x
Bullet SNDK-USD	0.0000%	1h	1,784.5	−0.006%	$15K	$292K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,783.7	−0.049%	$749	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,785	+0.020%	$51K	$331K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,784.9	+0.014%	$1.4M	$10.4M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,784.6	+0.001%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0003%	1h	1,785.6	+0.059%	$664	$37K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,785.1	+0.029%	$1.7M	$16.3M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,784.6	−0.003%	$1.4M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,784.4	−0.010%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.861%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784	−0.035%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,784	−0.036%	—	$584K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,783.9	−0.037%	—	—	5x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,784.6	0.000%	$246K	$644K	20x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,784	−0.034%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,784.6	+0.001%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,784.8	+0.011%	$1.4M	$5.0M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,784.2	−0.024%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0088%	1h	1,784	−0.033%	$436K	$2.3M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,784.1	−0.026%	$198K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,784.1	−0.027%	$6.1M	$21.6M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,785.6	+0.058%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,784.2	−0.020%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0132%	1h	1,785.2	+0.032%	$130K	$355K	20x	as long as short
RISEx SNDK/USDC	+0.0257%	1h	1,785.7	+0.062%	$170K	$1.8M	20x	as long as short
edgeX SNDKUSDC	+0.0444%	4h	1,785	+0.024%	$567K	$353K	10x	as long as short