Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.011%

Price spread now: GRVT against Lighter−0.205%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$130.133% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.190%+$19 · spread now −0.205%, 7d avg −0.015%

Together, before fees+0.165%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$16 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 GRVT is 0.190% cheaper against Lighter than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SNDK	1,783.8	0.0040	pay 0.0005% / 1h	53m 00s	$1.5M	$15.9M	20x
Short	GRVT SNDK_USDT_Perp	1,780.1	0	get 0.0000% / 8h	7h 53m	$19K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.205%Rate

Funding earned: −$8.4
Price spread: −0.205% → −0.015%: −$19.01
Slippage, 4 orders: −$4.33
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$40.73
Costs to cover: 0.133%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; GRVT: live order book, 5 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, 6 min ago	0.70 bp	1.1 bp −$1	1.8 bp −$18	32.7 bp −$3,272	doesn't fit
Sell GRVT live order book, 5 min ago	1.18 bp	5.9 bp −$6	7.1 bp −$71	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	1,783.3	−0.029%	$4.1M	$4.5M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,782.5	−0.072%	$21.9M	$46.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,782.5	−0.072%	$284.5M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,783.3	−0.030%	$32.2M	$100.8M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,783	−0.045%	$86.6M	$835.9M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,783.2	−0.034%	$182.8M	$232.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,782.9	−0.053%	$48.2M	$169.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,779.6	−0.238%	$2.6M	$4.6M	—	as long as short
GRVT SNDK_USDT_Perpshort	0.0000%	8h	1,780.1	−0.205%	$19K	$1.1M	10x
Phoenix SNDK	0.0000%	1h	1,777.9	−0.331%	$277K	$195K	15x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SNDK-USDT	0.0000%	8h	1,781.5	−0.132%	$1K	$3.9M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,782.5	−0.071%	$50K	$310K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,782.5	−0.073%	$1.5M	$11.0M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,783.2	−0.035%	$2.8M	$1.0M	50x	as long as short
QFEX SNDK-USD	+0.0001%	1h	1,781.4	−0.137%	$2.2M	$21.0M	10x	as long as short
RISEx SNDK/USDC	+0.0004%	1h	1,782.3	−0.086%	$174K	$1.8M	20x	as long as short
Aftermath Perps SNDKUSD	+0.0012%	1h	1,779.2	−0.257%	$788	$37K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,782.9	−0.049%	$1.3M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,782.8	−0.055%	$419K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.906%	$36	$9K	12x	as long as short
Lighter SNDKlong	+0.0040%	1h	1,783.8	long leg	$1.5M	$15.9M	20x
Arcus SNDK-USD	+0.0040%	1h	1,779.1	−0.265%	$285K	$1.6M	10x	as long as short
Entropy io:SNDK	+0.0044%	1h	1,779.8	−0.224%	$4.7M	$19.9M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,781.6	−0.124%	—	$675K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,781.6	−0.123%	$246K	$661K	20x	as long as short
Nado SNDK-PERP	+0.0048%	1h	1,782	−0.100%	$354K	$1.4M	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,782.4	−0.077%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,781.7	−0.118%	$1.4M	$4.9M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,781.8	−0.110%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,781.9	−0.107%	$212K	$279K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,781.8	−0.113%	$6.1M	$22.0M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,779.8	−0.223%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,781.8	−0.112%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0128%	1h	1,781.4	−0.137%	$441K	$2.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0171%	1h	1,781.9	−0.107%	$186K	$143K	10x	as long as short
edgeX SNDKUSDC	+0.0314%	4h	1,778.1	−0.318%	$565K	$353K	10x	as long as short
Bullet SNDK-USD	+0.0383%	1h	1,782.4	−0.076%	$14K	$290K	10x	as long as short
SoDEX SNDK-USD	+0.0399%	1h	1,781.8	−0.110%	$728K	$527K	10x	as long as short
tradeXYZ xyz:SNDK	+0.0399%	1h	1,783.1	−0.039%	$114.5M	$149.7M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0662%	1h	1,782.9	−0.049%	$130K	$399K	20x	as long as short