Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.003%

Price spread now: Bybit against Injective−1.753%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 1.753% cheaper against Injective than usual: you would sell low and buy high (−$175 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.150%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SNDK/USDC PERP	1,800	0.0033	pay 0.0004% / 1h	29m 05s	$36	$4K	12x
Short	Bybit SNDKUSDT	1,768.4	0	get 0.0000% / 8h	5h 29m	$31.5M	$106.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −1.753%Rate

Funding earned: −$7
Price spread: −1.753% → 0.000%: −$175.34
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$193.36
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.76 bp	7.2 bp −$7	11.3 bp −$113	36.2 bp −$3,618	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SNDK on 40 exchanges

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
Kraken Futures PF_SNDKUSD	−0.0259%	1h	1,767.2	−1.819%	$167K	$379K	20x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,767.9	−1.783%	$4.0M	$4.7M	75x	as long as short
QFEX SNDK-USD	−0.0001%	1h	1,767.3	−1.816%	$1.4M	$9.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,768.4	−1.751%	$21.5M	$32.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,767.9	−1.781%	$281.8M	$1.87B	75x	as long as short
Bybit SNDKUSDTshort	0.0000%	8h	1,768.4	−1.753%	$31.5M	$106.9M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,768	−1.776%	$81.0M	$840.2M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,767.7	−1.793%	$181.7M	$219.9M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,767.9	−1.784%	$49.8M	$172.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,767.9	−1.781%	$2.7M	$4.7M	—	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,768.1	−1.768%	$19K	$2.5M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,767.7	−1.792%	$275K	$188K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,768.2	−1.764%	$14K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,767.3	−1.813%	$954	$3.1M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,767.6	−1.798%	$19K	$446K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,767.5	−1.802%	$1.4M	$9.7M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,767.9	−1.781%	$2.8M	$1.2M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0021%	1h	1,767.9	−1.781%	$675	$39K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,767.9	−1.779%	$1.2M	$9.7M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,767.2	−1.822%	$413K	$2.4M	10x	as long as short
Injective SNDK/USDC PERPlong	+0.0033%	1h	1,800	long leg	$36	$4K	12x
Arcus SNDK-USD	+0.0040%	1h	1,767	−1.831%	$269K	$1.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,767.4	−1.807%	—	$574K	10x	as long as short
Nado SNDK-PERP	+0.0046%	1h	1,767.6	−1.796%	$329K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,767.8	−1.787%	$243K	$702K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,767.9	−1.781%	$121.5M	$152.7M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,767.6	−1.798%	$4.5M	$19.2M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,767.6	−1.798%	$187K	$131K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,767.9	−1.783%	$725K	$522K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,767.8	−1.787%	$1.4M	$5.3M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0052%	8h	1,767.2	−1.818%	—	—	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,767.6	−1.796%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,767.9	−1.783%	$193K	$310K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,767.5	−1.802%	$6.1M	$23.1M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,769.5	−1.693%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,767	−1.834%	$8K	$3K	20x	as long as short
Lighter SNDK	+0.0136%	1h	1,768.8	−1.731%	$1.8M	$16.8M	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0152%	1h	1,768.4	−1.752%	$443K	$2.2M	10x	as long as short
edgeX SNDKUSDC	+0.0668%	4h	1,767.1	−1.825%	$561K	$340K	10x	as long as short
RISEx SNDK/USDC	+0.0898%	1h	1,769.2	−1.706%	$146K	$1.5M	20x	as long as short