Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.013%

Price spread now: Phemex against Entropy+0.004%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Entropy Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now +0.004%, 7d avg +0.041%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.037% cheaper against Entropy than usual: you would sell low and buy high (spread +0.004% now, against its 7-day average of +0.041%). If the spread goes back, that is −$4 on $10k: about 2.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:SNDK	1,790	−0.0045	get 0.0006% / 1h	7m 19s	$4.9M	$19.9M	10x
Short	Phemex SNDKUSDT	1,790.1	0	get 0.0000% / 8h	5h 07m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.004%Rate

Funding earned: $9.48
Price spread: +0.004% → +0.041%: −$3.68
Slippage, 4 orders: −$35.2
Fee Entropy: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$59.4
Costs to cover: 0.652%
Break-even: 50.8 days

Slippage from Entropy: live order book, 10 min ago; Phemex: live order book, 1 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, 10 min ago	0.28 bp	9.3 bp −$9	12.4 bp −$124	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	2.77 bp	26.6 bp −$27	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	1,790.2	+0.008%	$4.1M	$4.4M	75x	as long as short
Phoenix SNDK	−0.0090%	1h	1,790.7	+0.039%	$279K	$193K	15x	as long as short
Nado SNDK-PERP	−0.0047%	1h	1,790.9	+0.050%	$361K	$1.4M	10x	as long as short
Entropy io:SNDKlong	−0.0045%	1h	1,790	long leg	$4.9M	$19.9M	10x
QFEX SNDK-USD	−0.0023%	1h	1,789.7	−0.018%	$1.5M	$14.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,789.8	−0.012%	$21.8M	$35.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,790	−0.001%	$286.9M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,790.5	+0.028%	$32.2M	$99.7M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,790	0.000%	$85.0M	$825.1M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,791.1	+0.059%	$170K	$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	1,790	+0.002%	$180.8M	$231.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,789.9	−0.006%	$44.0M	$161.7M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,789.5	−0.029%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,790.1	+0.007%	$19K	$1.3M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,789.9	−0.003%	$14K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,788.3	−0.093%	$547	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,790.7	+0.038%	$51K	$342K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,789.6	−0.024%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,790.1	+0.004%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0002%	1h	1,790.7	+0.038%	$666	$37K	5x	as long as short
tradeXYZ xyz:SNDK	+0.0014%	1h	1,790	0.000%	$114.8M	$145.7M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,785.7	−0.240%	$439K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,791.1	+0.063%	$1.7M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,790.4	+0.021%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,790.5	+0.028%	$450K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.556%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,788.8	−0.067%	$313K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,790.3	+0.016%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,789.9	−0.006%	$246K	$646K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,789.9	−0.004%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,789.5	−0.028%	$188K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,789.9	−0.007%	$732K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,789.7	−0.017%	$1.4M	$5.1M	5x	as long as short
KuCoin SNDKUSDTM	+0.0054%	8h	1,789	−0.059%	$6.1M	$22.0M	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,790.3	+0.018%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,789.5	−0.027%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,789.9	−0.003%	$199K	$287K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,789.9	−0.005%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,789.3	−0.042%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0979%	4h	1,790	−0.002%	$568K	$352K	10x	as long as short