Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.009%

Price spread now: Arcus against Phemex−0.087%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$750.748% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now −0.087%, 7d avg −0.061%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.026% cheaper against Phemex than usual: you would sell low and buy high (spread −0.087% now, against its 7-day average of −0.061%). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.008% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,785.1	0	get 0.0000% / 8h	5h 56m	$2.8M	$1.1M	50x
Short	Arcus SNDK-USD	1,783.6	0.0040	get 0.0005% / 1h	56m 13s	$311K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now −0.087%Rate

Funding earned: $8.46
Price spread: −0.087% → −0.061%: −$2.58
Slippage, 4 orders: −$58.31
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$68.93
Costs to cover: 0.748%
Break-even: 64.0 days

Slippage from Phemex: live order book, 2 min ago; Arcus: live order book, 3 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 Phemex live order book, 2 min ago	1.88 bp	30.5 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	1.04 bp	8.4 bp −$8	13.2 bp −$132	doesn't fit	doesn't fit

SNDK on 39 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
Phoenix SNDK	−0.0045%	1h	1,784.5	−0.035%	$278K	$193K	15x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,785.7	+0.032%	$1.6M	$15.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,785.6	+0.027%	$21.8M	$37.2M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,785.6	+0.028%	$285.8M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,786.1	+0.057%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,785.3	+0.010%	$85.4M	$821.8M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,786.9	+0.101%	$170K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,785.3	+0.012%	$180.1M	$230.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,785.2	+0.003%	$43.8M	$163.6M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,784.7	−0.023%	$2.6M	$4.7M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,784	−0.062%	$19K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,785.3	+0.010%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,785.1	0.000%	$918	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,785.9	+0.041%	$51K	$332K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.1	+0.001%	$1.4M	$10.4M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,785.1	long leg	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0003%	1h	1,785.1	+0.001%	$664	$37K	5x	as long as short
Nado SNDK-PERP	+0.0018%	1h	1,786.4	+0.074%	$359K	$1.4M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,782.5	−0.150%	$435K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,786.4	+0.074%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,786.1	+0.055%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,785.8	+0.041%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.831%	$36	$9K	12x	as long as short
Arcus SNDK-USDshort	+0.0040%	1h	1,783.6	−0.087%	$311K	$1.6M	10x
Vest SNDK-USD-PERP	+0.0046%	1h	1,784.5	−0.033%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,785.8	+0.038%	$246K	$644K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,785.8	+0.037%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,785.4	+0.016%	$114.5M	$146.0M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,785	−0.007%	$4.9M	$20.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,785.4	+0.016%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.1	−0.002%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,785.6	+0.027%	$1.4M	$5.0M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.1	+0.055%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785	−0.004%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,785.8	+0.040%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785.2	+0.002%	$6.1M	$21.6M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,784.5	−0.034%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785	−0.009%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0591%	4h	1,784.5	−0.034%	$567K	$354K	10x	as long as short