Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.008%

Price spread now: Bybit against Lighter−0.027%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.027%, 7d avg +0.033%

Together, before fees−0.058%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.060% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SNDK	1,769.4	0.0032	pay 0.0004% / 1h	8m 22s	$1.5M	$16.5M	20x
Short	Bybit SNDKUSDT	1,768.9	0	get 0.0000% / 8h	2h 08m	$31.6M	$105.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$6.72
Price spread: −0.027% → +0.033%: −$6
Slippage, 4 orders: −$7.6
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.32
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Lighter: live order book, 10 min ago; Bybit: live order book, 11 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 Lighter live order book, 10 min ago	0.79 bp	1.0 bp −$1	1.1 bp −$11	23.3 bp −$2,328	doesn't fit
Sell Bybit live order book, 11 min ago	0.82 bp	8.1 bp −$8	12.2 bp −$122	39.3 bp −$3,928	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	1,768.5	−0.050%	$4.1M	$4.5M	75x	as long as short
Arcus SNDK-USD	−0.0085%	1h	1,768.2	−0.067%	$282K	$1.7M	10x	as long as short
Phoenix SNDK	−0.0045%	1h	1,769.1	−0.016%	$276K	$195K	15x	as long as short
Deribit SNDK_USDC-PERPETUAL	−0.0044%	1h	1,769	−0.021%	$49K	$230K	10x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,768.4	−0.054%	$2.2M	$22.0M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,769	−0.020%	$21.8M	$39.8M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,768.5	−0.048%	$286.6M	$1.90B	75x	as long as short
Bybit SNDKUSDTshort	0.0000%	8h	1,768.9	−0.027%	$31.6M	$105.7M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,768.6	−0.044%	$87.7M	$846.6M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,769.5	+0.008%	$162K	$1.8M	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,768.6	−0.045%	$183.3M	$245.0M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,768.7	−0.040%	$49.5M	$171.3M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,769.6	+0.010%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,769.2	−0.011%	$10K	$1.0M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,768.6	−0.046%	$14K	$295K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,768.4	−0.053%	$1K	$4.0M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,768.5	−0.051%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,768.5	−0.049%	$2.8M	$946K	50x	as long as short
Aftermath Perps SNDKUSD	+0.0003%	1h	1,769.3	−0.005%	$753	$38K	5x	as long as short
Lighter SNDKlong	+0.0032%	1h	1,769.4	long leg	$1.5M	$16.5M	20x
Lighter RH SNDK	+0.0032%	1h	1,769.2	−0.008%	$1.4M	$10.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,768.8	−0.033%	$410K	$1.8M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.728%	$36	$19K	12x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0040%	1h	1,770.3	+0.050%	$434K	$2.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0043%	1h	1,768.5	−0.047%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,768.7	−0.038%	$244K	$680K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,768.8	−0.033%	$111.9M	$151.8M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,769	−0.021%	$4.5M	$20.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,768.4	−0.055%	$196K	$185K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,768.5	−0.047%	$723K	$547K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,767.9	−0.084%	$1.4M	$4.8M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0051%	8h	1,768.6	−0.043%	—	—	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0070%	1h	1,769.3	−0.005%	$129K	$415K	20x	as long as short
Nado SNDK-PERP	+0.0074%	1h	1,768.9	−0.027%	$309K	$1.4M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,768.6	−0.042%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,768.6	−0.043%	$213K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,768.7	−0.040%	$6.0M	$22.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,769.6	+0.012%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,768.3	−0.064%	$8K	$2K	20x	as long as short
edgeX SNDKUSDC	+0.0604%	4h	1,769.7	+0.017%	$562K	$354K	10x	as long as short