Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.031%
Price spread now: Phoenix against Lighter−0.264%7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$220.219% of the position
Funding, last 7 days−0.161%−$16 on $10k
+Price spread, last 3 days (all we have)+0.195%+$19 · spread now −0.264%, 7d avg +0.002%
=Together, before fees+0.034%+ Points / potential airdropLighter: Season 3 · farm board+$3 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 Phoenix is 0.266% cheaper against Lighter than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.002%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SNDK | 1,787.9 | 0.0032 | pay 0.0004% / 1h | 30m 21s | $1.6M | $16.2M | 20x |
| Short | Phoenix SNDK | 1,783.2 | 0 | get 0.0000% / 1h | 30m 21s | $278K | $195K | 15x |
Lighter SNDK
Phoenix SNDKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.72
- Price spread: −0.264% → +0.002%
- −$26.59
- Slippage, 4 orders
- −$14.95
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$55.26
- Costs to cover
- 0.219%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Phoenix: live order book, 40 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, 3 min ago | 0.50 bp | 1.0 bp −$1 | 1.6 bp −$16 | 25.6 bp −$2,561 | doesn't fit |
| Sell Phoenix live order book, 40 min ago | 2.82 bp | 10.2 bp −$10 | 21.2 bp −$212 | 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 | 1,786.3 | −0.088% | $4.1M | $4.5M | 75x | as long as short |
| Aster SNDKUSD1 | 0.0000% | 8h | 1,786.8 | −0.061% | $21.8M | $44.4M | 20x | as long as short |
| Binance SNDKUSDT | 0.0000% | 8h | 1,787 | −0.053% | $285.5M | $1.84B | 75x | as long as short |
| Bybit SNDKUSDT | 0.0000% | 8h | 1,787.6 | −0.019% | $32.0M | $100.2M | 100x | as long as short |
| OKX SNDK-USDT-SWAP | 0.0000% | 8h | 1,787.6 | −0.018% | $86.1M | $834.4M | 75x | as long as short |
| Gate SNDK_USDT | 0.0000% | 8h | 1,787.1 | −0.044% | $182.7M | $234.7M | 75x | as long as short |
| Bitget SNDKUSDT | 0.0000% | 8h | 1,787.4 | −0.032% | $47.5M | $168.8M | 75x | as long as short |
| Variational Omni SNDK | 0.0000% | 8h | 1,786.6 | −0.073% | $2.6M | $4.6M | — | as long as short |
| GRVT SNDK_USDT_Perp | 0.0000% | 8h | 1,783.5 | −0.245% | $10K | $1.1M | 10x | as long as short |
| Phoenix SNDKshort | 0.0000% | 1h | 1,783.2 | −0.264% | $278K | $195K | 15x |
BloFin SNDK-USDT
Aster SNDKUSD1
Binance SNDKUSDT
Bybit SNDKUSDT
OKX SNDK-USDT-SWAP
Gate SNDK_USDT
Bitget SNDKUSDT
Variational Omni SNDK
GRVT SNDK_USDT_PerpShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet SNDK-USD | 0.0000% | 1h | 1,787.1 | −0.046% | $13K | $291K | 10x | as long as short |
| SunX SNDK-USDT | 0.0000% | 8h | 1,786.4 | −0.088% | $838 | $3.8M | 20x | as long as short |
| Deribit SNDK_USDC-PERPETUAL | 0.0000% | 1h | 1,787.6 | −0.020% | $50K | $314K | 10x | as long as short |
| HTX SNDK-USDT | 0.0000% | 8h | 1,787.2 | −0.043% | $1.5M | $10.9M | 50x | as long as short |
| Phemex SNDKUSDT | 0.0000% | 8h | 1,786.2 | −0.097% | $2.8M | $1.0M | 50x | as long as short |
| QFEX SNDK-USD | +0.0001% | 1h | 1,786.8 | −0.064% | $2.1M | $19.9M | 10x | as long as short |
| RISEx SNDK/USDC | +0.0004% | 1h | 1,787.8 | −0.006% | $171K | $1.8M | 20x | as long as short |
| Nado SNDK-PERP | +0.0006% | 1h | 1,787.9 | −0.002% | $346K | $1.4M | 10x | as long as short |
| Aftermath Perps SNDKUSD | +0.0009% | 1h | 1,786.4 | −0.082% | $715 | $37K | 5x | as long as short |
| Lighter SNDKlong | +0.0032% | 1h | 1,787.9 | long leg | $1.6M | $16.2M | 20x | |
| Lighter RH SNDK | +0.0032% | 1h | 1,787.9 | −0.003% | $1.3M | $9.6M | 10x | as long as short |
| Extended SNDK_24_5-USD | +0.0032% | 1h | 1,787.5 | −0.024% | $437K | $1.5M | 10x | as long as short |
| Injective SNDK/USDC PERP | +0.0033% | 1h | 1,800 | +0.673% | $36 | $9K | 12x | as long as short |
| Arcus SNDK-USD | +0.0040% | 1h | 1,785.3 | −0.149% | $300K | $1.6M | 10x | as long as short |
| Vest SNDK-USD-PERP | +0.0046% | 1h | 1,785.8 | −0.117% | — | $585K | 10x | as long as short |
| Popdex SNDKUSDT | +0.0048% | 1h | 1,787.1 | −0.046% | $245K | $652K | 20x | as long as short |
| tradeXYZ xyz:SNDK | +0.0050% | 1h | 1,787 | −0.051% | $114.9M | $148.2M | 10x | as long as short |
| Entropy io:SNDK | +0.0050% | 1h | 1,785.9 | −0.113% | $4.9M | $20.1M | 10x | as long as short |
| Polymarket Perps SNDK-USD | +0.0050% | 1h | 1,786.8 | −0.063% | $187K | $135K | 10x | as long as short |
| Paradex SNDK-USD-PERP | +0.0050% | 8h | 1,786.8 | −0.062% | — | — | 5x | as long as short |
| Ondo Perps SNDK-USD.P | +0.0050% | 1h | 1,787 | −0.051% | $1.4M | $5.1M | 5x | as long as short |
| Aevo SNDK-PERP | +0.0080% | 1h | 1,787 | −0.053% | $1K | — | 10x | as long as short |
| SoDEX SNDK-USD | +0.0092% | 1h | 1,787.1 | −0.046% | $731K | $515K | 10x | as long as short |
| Pacifica SNDK | +0.0100% | 1h | 1,787 | −0.053% | $199K | $291K | 10x | as long as short |
| KuCoin SNDKUSDTM | +0.0100% | 8h | 1,786.1 | −0.102% | $6.1M | $21.9M | 20x | as long as short |
| ApeX Omni SNDKUSDT | +0.0100% | 1h | 1,783.7 | −0.234% | $69K | $269K | 50x | as long as short |
| Orderly PERP_SNDK_USDC_mythos | +0.0100% | 8h | 1,786.5 | −0.078% | $8K | $3K | 20x | as long as short |
| Coinbase International SNDK-PERP-INTX | +0.0128% | 1h | 1,785.8 | −0.119% | $441K | $2.3M | 10x | as long as short |
| edgeX SNDKUSDC | +0.0575% | 4h | 1,785.2 | −0.150% | $567K | $355K | 10x | as long as short |
| Kraken Futures PF_SNDKUSD | +0.0661% | 1h | 1,787.8 | −0.007% | $130K | $379K | 20x | as long as short |
Bullet SNDK-USD
SunX SNDK-USDT
Deribit SNDK_USDC-PERPETUAL
HTX SNDK-USDT
Phemex SNDKUSDT
QFEX SNDK-USD
RISEx SNDK/USDC
Nado SNDK-PERP
Aftermath Perps SNDKUSD
Lighter RH SNDK
Extended SNDK_24_5-USD
Injective SNDK/USDC PERP
Arcus SNDK-USD
Vest SNDK-USD-PERP
Popdex SNDKUSDT
tradeXYZ xyz:SNDK
Entropy io:SNDK
Polymarket Perps SNDK-USD
Paradex SNDK-USD-PERP
Ondo Perps SNDK-USD.P
Aevo SNDK-PERP
SoDEX SNDK-USD
Pacifica SNDK
KuCoin SNDKUSDTM
ApeX Omni SNDKUSDT
Orderly PERP_SNDK_USDC_mythos
Coinbase International SNDK-PERP-INTX
edgeX SNDKUSDC
Kraken Futures PF_SNDKUSD