Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.018%

Price spread now: Phoenix against GRVT+0.026%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.026%, 7d avg +0.022%

Together, before fees−0.240%+ Points / potential airdropGRVT: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SNDK_USDT_Perp	1,789.6	0	get 0.0000% / 8h	4h 21m	$16K	$1.4M	10x
Short	Phoenix SNDK	1,790.1	−0.0089	pay 0.0011% / 1h	21m 13s	$279K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$18.77
Price spread: +0.026% → +0.022%: $0.48
Slippage, 4 orders: −$15.71
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$50
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Phoenix: live order book, 35 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, 2 min ago	1.17 bp	5.7 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell Phoenix live order book, 35 min ago	2.79 bp	10.1 bp −$10	21.0 bp −$210	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	1,790.3	+0.038%	$4.0M	$4.4M	75x	as long as short
Phoenix SNDKshort	−0.0089%	1h	1,790.1	+0.026%	$279K	$193K	15x
Nado SNDK-PERP	−0.0083%	1h	1,791.3	+0.092%	$352K	$1.5M	10x	as long as short
Entropy io:SNDK	−0.0079%	1h	1,790.1	+0.026%	$4.9M	$19.9M	10x	as long as short
QFEX SNDK-USD	−0.0033%	1h	1,790.3	+0.040%	$1.4M	$13.4M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0032%	1h	1,785.7	−0.219%	$439K	$2.3M	10x	as long as short
KuCoin SNDKUSDTM	−0.0007%	8h	1,789.7	+0.004%	$6.1M	$22.3M	20x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,791.2	+0.087%	$21.8M	$36.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,790.5	+0.049%	$287.4M	$1.79B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,791.2	+0.086%	$32.5M	$100.2M	100x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SNDK-USDT-SWAP	0.0000%	8h	1,790.1	+0.026%	$84.2M	$826.7M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,791.9	+0.125%	$171K	$1.7M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,790.3	+0.039%	$180.4M	$231.0M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,790.3	+0.040%	$43.9M	$161.6M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,788.3	−0.077%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perplong	0.0000%	8h	1,789.6	long leg	$16K	$1.4M	10x
Bullet SNDK-USD	0.0000%	1h	1,790.5	+0.049%	$14K	$289K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,789.7	+0.002%	$814	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,790.8	+0.063%	$51K	$345K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,790	+0.019%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,790.4	+0.043%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0003%	1h	1,789.7	+0.007%	$666	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,791.5	+0.106%	$1.7M	$15.8M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,791	+0.078%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,790.5	+0.047%	$490K	$1.8M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.577%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,788.6	−0.058%	$278K	$1.4M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0044%	1h	1,791.2	+0.088%	$130K	$352K	20x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,790.2	+0.034%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,791	+0.077%	$247K	$646K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,790.5	+0.049%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,790.6	+0.054%	$115.3M	$146.7M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,790.4	+0.043%	$188K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,790.2	+0.032%	$732K	$514K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,790.3	+0.038%	$1.4M	$5.0M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,790.2	+0.030%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,790.9	+0.069%	$199K	$287K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,789.3	−0.017%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,790	+0.021%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0709%	4h	1,789.1	−0.029%	$568K	$352K	10x	as long as short