SNDK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h −0.046%

Price spread now: Entropy against Lighter−0.167%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$220.225% of the position

Long on Lighter Short on Entropy

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.106%+$11 · spread now −0.167%, 7d avg −0.045%

Together, before fees−0.032%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.122% cheaper against Lighter than usual: you would sell low and buy high (spread −0.167% now, against its 7-day average of −0.045%). If the spread goes back, that is −$12 on $10k: about 23 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.138%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SNDK	1,772.4	0.0032	pay 0.0004% / 1h	59m 08s	$1.5M	$16.0M	20x
Short	Entropy io:SNDK	1,769.4	0.0050	get 0.0006% / 1h	59m 08s	$4.6M	$20.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now −0.167%Rate

Funding earned: $3.78
Price spread: −0.167% → −0.045%: −$12.24
Slippage, 4 orders: −$4.49
Fee Lighter: 0 bp × 2 orders: $0
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$30.95
Costs to cover: 0.225%
Break-even: 64.3 days

Slippage from Lighter: live order book, 4 min ago; Entropy: live order book, 7 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, 4 min ago	0.54 bp	0.7 bp −$1	1.8 bp −$18	25.9 bp −$2,591	doesn't fit
Sell Entropy live order book, 7 min ago	0.28 bp	11.4 bp −$11	doesn't fit	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	1,771.5	−0.047%	$4.2M	$4.6M	75x	as long as short
Phoenix SNDK	−0.0045%	1h	1,768.6	−0.212%	$275K	$195K	15x	as long as short
QFEX SNDK-USD	−0.0007%	1h	1,770.7	−0.095%	$2.2M	$22.0M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,771.2	−0.063%	$21.8M	$39.8M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,771.4	−0.052%	$287.1M	$1.90B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,771.7	−0.036%	$31.6M	$105.8M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,771.7	−0.037%	$87.8M	$848.0M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,771.5	−0.049%	$183.5M	$241.0M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,771.6	−0.043%	$49.6M	$171.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,768.5	−0.216%	$2.6M	$4.7M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,768.4	−0.225%	$10K	$1.0M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,770.9	−0.082%	$14K	$294K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,771	−0.074%	$1K	$4.0M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,772.4	+0.003%	$49K	$233K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,771.5	−0.050%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,771.5	−0.046%	$2.8M	$953K	50x	as long as short
Aftermath Perps SNDKUSD	+0.0005%	1h	1,770	−0.135%	$681	$38K	5x	as long as short
RISEx SNDK/USDC	+0.0015%	1h	1,770.8	−0.086%	$162K	$1.8M	20x	as long as short
Lighter SNDKlong	+0.0032%	1h	1,772.4	long leg	$1.5M	$16.0M	20x
Lighter RH SNDK	+0.0032%	1h	1,772.1	−0.017%	$1.4M	$10.1M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,770.8	−0.086%	$410K	$1.8M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.557%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,769.6	−0.155%	$282K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,769.4	−0.165%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,771.2	−0.065%	$244K	$679K	20x	as long as short
Entropy io:SNDKshort	+0.0050%	1h	1,769.4	−0.167%	$4.6M	$20.5M	10x
Polymarket Perps SNDK-USD	+0.0050%	1h	1,771.1	−0.071%	$196K	$185K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,770.3	−0.116%	$1.4M	$4.8M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0051%	8h	1,770.1	−0.128%	—	—	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0056%	1h	1,770.2	−0.124%	$434K	$2.4M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,771.5	−0.047%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,770.2	−0.122%	$213K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,770.3	−0.116%	$6.0M	$22.8M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,769.4	−0.168%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,770.6	−0.098%	$8K	$2K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0106%	1h	1,771.6	−0.043%	$112.2M	$152.0M	10x	as long as short
SoDEX SNDK-USD	+0.0146%	1h	1,770.3	−0.119%	$724K	$550K	10x	as long as short
Nado SNDK-PERP	+0.0209%	1h	1,769.9	−0.141%	$308K	$1.4M	10x	as long as short
edgeX SNDKUSDC	+0.0272%	4h	1,768.6	−0.210%	$562K	$356K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0387%	1h	1,767.6	−0.267%	$129K	$416K	20x	as long as short