Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.003%

Price spread now: Phemex against Injective−1.646%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 Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 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 Phemex is 1.646% cheaper against Injective than usual: you would sell low and buy high (−$165 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	23m 01s	$36	$9K	12x
Short	Phemex SNDKUSDT	1,770.3	0	get 0.0000% / 8h	3h 23m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −1.646%Rate

Funding earned: −$7
Price spread: −1.646% → 0.000%: −$164.56
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$183.58
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 6 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 Phemex live order book, 6 min ago	1.80 bp	26.6 bp −$27	doesn't fit	doesn't fit	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 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	1,770.2	−1.656%	$3.9M	$4.4M	75x	as long as short
Entropy io:SNDK	−0.0050%	1h	1,773.8	−1.453%	$4.8M	$19.7M	10x	as long as short
KuCoin SNDKUSDTM	−0.0045%	8h	1,772.2	−1.542%	$6.1M	$22.0M	20x	as long as short
Nado SNDK-PERP	−0.0028%	1h	1,771.4	−1.586%	$344K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0019%	1h	1,770.6	−1.632%	$1.4M	$12.0M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0008%	1h	1,771	−1.607%	$430K	$2.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,773.4	−1.475%	$21.6M	$32.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,770.5	−1.638%	$281.4M	$1.82B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,770.4	−1.644%	$32.1M	$101.9M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,769.3	−1.703%	$82.1M	$824.0M	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	1,772.5	−1.527%	$137K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,769.6	−1.685%	$176.3M	$230.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,770.3	−1.649%	$44.3M	$162.6M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,774.1	−1.439%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,771.2	−1.597%	$11K	$1.6M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,771.7	−1.570%	$276K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,770.8	−1.619%	$14K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,769.5	−1.691%	$848	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,770.9	−1.613%	$51K	$346K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,770.1	−1.659%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,770.3	−1.646%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0008%	1h	1,774.6	−1.407%	$763	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,771.5	−1.580%	$1.7M	$15.8M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,770.8	−1.619%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,770.4	−1.642%	$435K	$1.9M	10x	as long as short
Injective SNDK/USDC PERPlong	+0.0033%	1h	1,800	long leg	$36	$9K	12x
Arcus SNDK-USD	+0.0040%	1h	1,772.6	−1.523%	$265K	$1.5M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,768.5	−1.748%	—	$580K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,771.3	−1.592%	$244K	$651K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,770.5	−1.638%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,769.3	−1.703%	$117.0M	$151.9M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,770.3	−1.648%	$186K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,770.6	−1.630%	$724K	$514K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,770.9	−1.614%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,770.2	−1.653%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,771	−1.610%	$197K	$288K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,776.8	−1.287%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,770.3	−1.647%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0122%	1h	1,770.8	−1.620%	$128K	$353K	20x	as long as short
edgeX SNDKUSDC	+0.0410%	4h	1,777	−1.274%	$564K	$351K	10x	as long as short