Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.011%

Price spread now: Lighter against GRVT+0.205%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs+$6as in the Price arb table

costs, in and out, $10k−$130.133% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 3 days (all we have)−0.191%−$19 · spread now +0.205%, 7d avg +0.015%

Together, before fees−0.165%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.190% dearer against GRVT than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SNDK_USDT_Perp	1,780.1	0	get 0.0000% / 8h	7h 53m	$19K	$1.1M	10x
Short	Lighter SNDK	1,783.8	0.0040	get 0.0005% / 1h	53m 03s	$1.5M	$15.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now +0.205%Rate

Funding earned: $8.4
Price spread: +0.205% → +0.015%: $19.05
Slippage, 4 orders: −$4.33
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $14.12
Costs to cover: 0.133%
Break-even: from the start

Slippage from GRVT: live order book, 5 min ago; Lighter: live order book, 6 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 GRVT live order book, 5 min ago	1.18 bp	5.7 bp −$6	7.6 bp −$76	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.70 bp	0.7 bp −$1	1.2 bp −$12	32.5 bp −$3,254	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	1,783.3	+0.177%	$4.1M	$4.5M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,782.5	+0.133%	$21.9M	$46.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,782.5	+0.133%	$284.5M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,783.3	+0.175%	$32.2M	$100.8M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,783	+0.160%	$86.6M	$835.9M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,783.2	+0.171%	$182.8M	$232.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,782.9	+0.152%	$48.2M	$169.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,779.6	−0.033%	$2.6M	$4.6M	—	as long as short
GRVT SNDK_USDT_Perplong	0.0000%	8h	1,780.1	long leg	$19K	$1.1M	10x
Phoenix SNDK	0.0000%	1h	1,777.9	−0.126%	$277K	$195K	15x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SNDK-USDT	0.0000%	8h	1,781.5	+0.073%	$1K	$3.9M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,782.5	+0.135%	$50K	$310K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,782.5	+0.132%	$1.5M	$11.0M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,783.2	+0.170%	$2.8M	$1.0M	50x	as long as short
QFEX SNDK-USD	+0.0001%	1h	1,781.4	+0.068%	$2.2M	$21.0M	10x	as long as short
RISEx SNDK/USDC	+0.0004%	1h	1,782.3	+0.120%	$174K	$1.8M	20x	as long as short
Aftermath Perps SNDKUSD	+0.0012%	1h	1,779.2	−0.052%	$788	$37K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,782.9	+0.156%	$1.3M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,782.8	+0.150%	$419K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.113%	$36	$9K	12x	as long as short
Lighter SNDKshort	+0.0040%	1h	1,783.8	+0.205%	$1.5M	$15.9M	20x
Arcus SNDK-USD	+0.0040%	1h	1,779.1	−0.060%	$285K	$1.6M	10x	as long as short
Entropy io:SNDK	+0.0044%	1h	1,779.8	−0.019%	$4.7M	$19.9M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,781.6	+0.081%	—	$675K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,781.6	+0.082%	$246K	$661K	20x	as long as short
Nado SNDK-PERP	+0.0048%	1h	1,782	+0.105%	$354K	$1.4M	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,782.4	+0.129%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,781.7	+0.087%	$1.4M	$4.9M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,781.8	+0.095%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,781.9	+0.099%	$212K	$279K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,781.8	+0.092%	$6.1M	$22.0M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,779.8	−0.018%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,781.8	+0.093%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0128%	1h	1,781.4	+0.068%	$441K	$2.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0171%	1h	1,781.9	+0.099%	$186K	$143K	10x	as long as short
edgeX SNDKUSDC	+0.0314%	4h	1,778.1	−0.113%	$565K	$353K	10x	as long as short
Bullet SNDK-USD	+0.0383%	1h	1,782.4	+0.129%	$14K	$290K	10x	as long as short
SoDEX SNDK-USD	+0.0399%	1h	1,781.8	+0.095%	$728K	$527K	10x	as long as short
tradeXYZ xyz:SNDK	+0.0399%	1h	1,783.1	+0.166%	$114.5M	$149.7M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0662%	1h	1,782.9	+0.157%	$130K	$399K	20x	as long as short