Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.056%

Price spread now: Phemex against Ondo Perps−0.020%7-day average +0.005% · you buy dearer than you sell

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

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now −0.020%, 7d avg +0.005%

Together, before fees−0.095%+ Points / potential airdropOndo Perps: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.025% cheaper against Ondo Perps 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	Ondo Perps SNDK-USD.P	1,771.3	0.0050	pay 0.0006% / 1h	47m 51s	$1.4M	$4.8M	5x
Short	Phemex SNDKUSDT	1,771	0	get 0.0000% / 8h	1h 47m	$2.8M	$960K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$10.58
Price spread: −0.020% → +0.005%: −$2.47
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$30.05
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 6 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	1.75 bp	15.6 bp −$16	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1,771.7	+0.023%	$4.1M	$4.5M	75x	as long as short
QFEX SNDK-USD	−0.0007%	1h	1,771.4	+0.005%	$2.2M	$21.9M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,771.3	−0.001%	$21.8M	$39.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,771.1	−0.012%	$286.7M	$1.89B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,771.2	−0.008%	$31.7M	$105.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,771.1	−0.011%	$87.7M	$845.6M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,770.9	−0.022%	$183.3M	$241.2M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,771.3	−0.001%	$49.6M	$171.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,771.6	+0.018%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,771.6	+0.018%	$20K	$1.0M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SNDK	0.0000%	1h	1,771.8	+0.028%	$276K	$195K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,770.8	−0.028%	$14K	$294K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,770.6	−0.042%	$945	$4.0M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,770.9	−0.020%	$49K	$240K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,771.1	−0.014%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,771	−0.020%	$2.8M	$960K	50x
Aftermath Perps SNDKUSD	+0.0007%	1h	1,771	−0.015%	$725	$37K	5x	as long as short
RISEx SNDK/USDC	+0.0015%	1h	1,772.4	+0.063%	$162K	$1.8M	20x	as long as short
Lighter SNDK	+0.0032%	1h	1,771.6	+0.015%	$1.5M	$16.1M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,771.2	−0.008%	$1.4M	$10.2M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,771.2	−0.003%	$410K	$1.8M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.618%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,771	−0.016%	$282K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,770.4	−0.054%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,771.3	0.000%	$244K	$672K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,771.2	−0.006%	$112.6M	$152.1M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,770.6	−0.040%	$4.5M	$20.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,770.8	−0.028%	$196K	$90K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,771	−0.018%	$724K	$550K	10x	as long as short
Ondo Perps SNDK-USD.Plong	+0.0050%	1h	1,771.3	long leg	$1.4M	$4.8M	5x
Paradex SNDK-USD-PERP	+0.0050%	8h	1,771.3	−0.002%	—	—	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0056%	1h	1,773.3	+0.112%	$438K	$2.4M	10x	as long as short
Nado SNDK-PERP	+0.0066%	1h	1,771.5	+0.012%	$309K	$1.4M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,770.3	−0.056%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,771.4	+0.007%	$213K	$291K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,770.7	−0.037%	$6.0M	$22.8M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,771.7	+0.024%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,770	−0.074%	$8K	$2K	20x	as long as short
edgeX SNDKUSDC	+0.0202%	4h	1,771.5	+0.010%	$563K	$355K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0386%	1h	1,771.5	+0.014%	$129K	$415K	20x	as long as short