Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Phemex against Lighter RH−0.026%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$610.608% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.026%, 7d avg −0.005%

Together, before fees−0.077%+ Points / potential airdropLighter RH: Points live · farm board−$8 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 Phemex is 0.021% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SNDK	1,764.1	0.0032	pay 0.0004% / 1h	18m 29s	$1.2M	$9.6M	10x
Short	Phemex SNDKUSDT	1,763.7	0	get 0.0000% / 8h	1h 18m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Lighter RH. 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 Lighter RHbpFee PhemexbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$6.72
Price spread: −0.026% → −0.005%: −$2.07
Slippage, 4 orders: −$48.77
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$69.56
Costs to cover: 0.608%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Phemex: 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 RH live order book, 5 min ago	1.22 bp	1.2 bp −$1	3.3 bp −$33	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.25 bp	26.0 bp −$26	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
Bitget SNDKUSDT	−0.0320%	8h	1,764.3	+0.010%	$48.4M	$166.8M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,763.5	−0.037%	$3.9M	$4.6M	75x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,763.7	−0.023%	$1.4M	$10.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,765	+0.050%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,764.1	−0.002%	$280.4M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,764.5	+0.023%	$31.8M	$103.4M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,764.4	+0.016%	$82.6M	$837.5M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,765.3	+0.066%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,764	−0.005%	$177.6M	$231.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,764.5	+0.022%	$2.5M	$4.8M	—	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	1,763.5	−0.037%	$11K	$2.0M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,764.5	+0.022%	$275K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,764.1	−0.001%	$13K	$289K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,763.6	−0.032%	$982	$3.5M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,762.8	−0.074%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,763.7	−0.026%	$2.8M	$1.1M	50x
KuCoin SNDKUSDTM	+0.0001%	8h	1,763.3	−0.046%	$6.0M	$22.2M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0005%	1h	1,763.8	−0.020%	$51K	$351K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0013%	1h	1,763.4	−0.039%	$656	$38K	5x	as long as short
Vest SNDK-USD-PERP	+0.0017%	1h	1,761.7	−0.135%	—	$579K	10x	as long as short
Nado SNDK-PERP	+0.0024%	1h	1,763.9	−0.012%	$328K	$1.5M	10x	as long as short
Lighter RH SNDKlong	+0.0032%	1h	1,764.1	long leg	$1.2M	$9.6M	10x
Extended SNDK_24_5-USD	+0.0032%	1h	1,763.7	−0.022%	$491K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.032%	$36	$9K	12x	as long as short
Lighter SNDK	+0.0040%	1h	1,764.8	+0.041%	$1.8M	$16.3M	20x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,762.5	−0.092%	$254K	$1.4M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,764	−0.006%	$242K	$668K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,764.1	−0.001%	$118.8M	$158.9M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,763.3	−0.046%	$4.7M	$19.6M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,762.9	−0.069%	$185K	$130K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,763.5	−0.037%	$721K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,763.6	−0.028%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,764.4	+0.016%	$1.4M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,763.3	−0.049%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,763.8	−0.018%	$198K	$304K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,764.9	+0.042%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,764.6	+0.025%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,761	−0.178%	$431K	$2.3M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0400%	1h	1,763.9	−0.013%	$127K	$346K	20x	as long as short
edgeX SNDKUSDC	+0.0501%	4h	1,763	−0.064%	$560K	$352K	10x	as long as short