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 HTX−0.028%72s7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$360.363% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.028%, 7d avg +0.031%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.059% cheaper against HTX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.031%). Swap the legs. The two prices were read 72 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	HTX SNDK-USDT	1,789	0	get 0.0000% / 8h	4h 42m	$1.4M	$10.8M	50x
Short	Phoenix SNDK	1,788.5	−0.0089	pay 0.0011% / 1h	42m 02s	$279K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$18.77
Price spread: −0.028% → +0.031%: −$5.93
Slippage, 4 orders: −$17.3
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$61.01
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Phoenix: live order book, 14 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 HTX live order book, 2 min ago	0.03 bp	9.3 bp −$9	10.3 bp −$103	17.0 bp −$1,695	doesn't fit
Sell Phoenix live order book, 14 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	1,789.3	+0.017%	$4.1M	$4.4M	75x	as long as short
Entropy io:SNDK	−0.0111%	1h	1,788.9	−0.006%	$4.9M	$19.9M	10x	as long as short
Nado SNDK-PERP	−0.0106%	1h	1,790.4	+0.079%	$310K	$1.5M	10x	as long as short
Phoenix SNDKshort	−0.0089%	1h	1,788.5	−0.028%	$279K	$193K	15x
QFEX SNDK-USD	−0.0033%	1h	1,789.2	+0.012%	$1.5M	$13.8M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0032%	1h	1,785.7	−0.184%	$439K	$2.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,789.9	+0.050%	$21.8M	$37.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,789.9	+0.048%	$287.1M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,790.6	+0.088%	$32.5M	$100.0M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,789.9	+0.050%	$84.6M	$825.7M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx SNDK/USDC	0.0000%	1h	1,790.4	+0.076%	$170K	$1.7M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,789.6	+0.034%	$180.1M	$230.7M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,789.5	+0.030%	$43.8M	$161.7M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,787.3	−0.096%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,787.7	−0.075%	$12K	$1.3M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,789.7	+0.039%	$14K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,788.6	−0.023%	$1K	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,789.9	+0.048%	$51K	$344K	10x	as long as short
HTX SNDK-USDTlong	0.0000%	8h	1,789	long leg	$1.4M	$10.8M	50x
Phemex SNDKUSDT	0.0000%	8h	1,789.6	+0.034%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0003%	1h	1,789.4	+0.024%	$666	$37K	5x	as long as short
KuCoin SNDKUSDTM	+0.0019%	8h	1,788.8	−0.014%	$6.1M	$22.3M	20x	as long as short
Lighter SNDK	+0.0032%	1h	1,790.4	+0.079%	$1.7M	$15.7M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,789.9	+0.053%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,789.7	+0.040%	$450K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.613%	$36	$9K	12x	as long as short
tradeXYZ xyz:SNDK	+0.0035%	1h	1,789.9	+0.050%	$115.1M	$146.3M	10x	as long as short
Popdex SNDKUSDT	+0.0040%	1h	1,789.4	+0.022%	$246K	$647K	20x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,786.9	−0.120%	$313K	$1.4M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0044%	1h	1,790.3	+0.070%	$130K	$352K	20x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,789.5	+0.027%	—	$581K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,789.6	+0.031%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,789.2	+0.011%	$188K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,789.2	+0.008%	$731K	$514K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,788	−0.056%	$1.4M	$5.0M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,789.1	+0.006%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,789.4	+0.024%	$199K	$287K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,788.1	−0.053%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,788.6	−0.021%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0668%	4h	1,786.9	−0.115%	$568K	$353K	10x	as long as short