Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.014%

Price spread now: Variational Omni against Lighter+0.061%7-day average +0.026% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.055%−$6 · spread now +0.061%, 7d avg +0.026%

Together, before fees−0.048%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.035% dearer against Lighter than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.026%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SNDK	1,764.1	0.0112	pay 0.0014% / 1h	47m 45s	$1.8M	$16.5M	20x
Short	Variational Omni SNDK	1,765.2	0	get 0.0000% / 8h	4h 47m	$2.7M	$4.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.061%Rate

Funding earned: −$23.52
Price spread: +0.061% → +0.026%: $3.52
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Lighter live order book, 4 min ago	0.68 bp	0.8 bp −$1	1.5 bp −$15	5.1 bp −$512	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.41 bp	doesn't fit	4.5 bp −$45	doesn't fit	doesn't fit

SNDK on 40 exchanges

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
Kraken Futures PF_SNDKUSD	−0.0127%	1h	1,762.8	−0.078%	$166K	$378K	20x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,762.7	−0.080%	$3.9M	$4.7M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,763.4	−0.043%	$21.5M	$32.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,763.9	−0.011%	$280.9M	$1.87B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,763.5	−0.036%	$31.4M	$107.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,763.4	−0.041%	$79.0M	$842.2M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,764.1	−0.001%	$146K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,763.7	−0.022%	$180.7M	$210.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,763.6	−0.029%	$48.5M	$172.3M	75x	as long as short
Variational Omni SNDKshort	0.0000%	8h	1,765.2	+0.061%	$2.7M	$4.4M	—

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,765.9	+0.098%	$22K	$2.6M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,763.5	−0.036%	$13K	$289K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,763.4	−0.044%	$993	$3.1M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,762.9	−0.073%	$19K	$447K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,762.3	−0.104%	$1.5M	$9.9M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,764.2	+0.005%	$2.8M	$1.1M	50x	as long as short
Entropy io:SNDK	+0.0004%	1h	1,763.5	−0.036%	$4.5M	$19.3M	10x	as long as short
QFEX SNDK-USD	+0.0004%	1h	1,762.6	−0.084%	$1.5M	$9.3M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0024%	1h	1,765	+0.048%	$674	$39K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,763.4	−0.041%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,762.1	−0.114%	$419K	$2.4M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.031%	$36	$4K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,761.9	−0.126%	$261K	$1.4M	10x	as long as short
Phoenix SNDK	+0.0045%	1h	1,761.4	−0.155%	$274K	$178K	15x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,761.5	−0.147%	—	$570K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,763.2	−0.053%	$243K	$700K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,763.3	−0.047%	$122.5M	$151.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,762.4	−0.098%	$193K	$165K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,762.4	−0.100%	$722K	$529K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,761.2	−0.166%	$1.4M	$5.3M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0051%	8h	1,762.6	−0.086%	—	—	5x	as long as short
Nado SNDK-PERP	+0.0065%	1h	1,763.1	−0.058%	$322K	$1.5M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,763.2	−0.055%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,763.6	−0.027%	$192K	$305K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,763.8	−0.019%	$6.1M	$23.1M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,766	+0.108%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,762.5	−0.090%	$9K	$6K	20x	as long as short
Lighter SNDKlong	+0.0112%	1h	1,764.1	long leg	$1.8M	$16.5M	20x
Coinbase International SNDK-PERP-INTX	+0.0176%	1h	1,761.9	−0.128%	$446K	$2.1M	10x	as long as short
edgeX SNDKUSDC	+0.0296%	4h	1,765.3	+0.068%	$561K	$338K	10x	as long as short