Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h −0.015%

Price spread now: Entropy against Phemex−0.017%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$820.819% of the position

Long on Phemex Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.017%, 7d avg −0.041%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Entropy is 0.024% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,785.6	0	get 0.0000% / 8h	5h 54m	$2.8M	$1.1M	50x
Short	Entropy io:SNDK	1,785.3	0.0008	get 0.0001% / 1h	54m 19s	$4.9M	$20.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now −0.017%Rate

Funding earned: $1.65
Price spread: −0.017% → −0.041%: $2.41
Slippage, 4 orders: −$51.89
Fee Phemex: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$77.83
Costs to cover: 0.819%
Break-even: 336.9 days

Slippage from Phemex: live order book, 4 min ago; Entropy: 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, 4 min ago	1.88 bp	30.5 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 3 min ago	0.28 bp	11.7 bp −$12	doesn't fit	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	−0.062%	$278K	$193K	15x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,786	+0.024%	$1.6M	$15.2M	10x	as long as short
Nado SNDK-PERP	−0.0003%	1h	1,787	+0.080%	$359K	$1.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.7	+0.062%	$21.8M	$37.2M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,786.2	+0.035%	$285.9M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,786.7	+0.063%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,786.6	+0.056%	$85.5M	$822.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,787.4	+0.099%	$170K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,786.1	+0.030%	$180.2M	$230.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,786	+0.024%	$43.8M	$163.6M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNDK	0.0000%	8h	1,784.7	−0.050%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,785.3	−0.016%	$11K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,786.1	+0.026%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,785.4	−0.014%	$934	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,786.3	+0.037%	$51K	$332K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,784.8	−0.043%	$1.4M	$10.4M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,785.6	long leg	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0003%	1h	1,785.5	−0.007%	$664	$37K	5x	as long as short
Entropy io:SNDKshort	+0.0008%	1h	1,785.3	−0.017%	$4.9M	$20.3M	10x
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,782.5	−0.176%	$435K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787.5	+0.105%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,786.9	+0.073%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.5	+0.050%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.804%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784	−0.090%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.4	−0.012%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,786.1	+0.028%	$246K	$644K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,786.2	+0.034%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,786.1	+0.028%	$114.5M	$145.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,785.8	+0.011%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.7	+0.006%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.1	+0.028%	$1.4M	$5.0M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.6	+0.056%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.8	+0.009%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786.3	+0.042%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785.6	−0.001%	$6.1M	$21.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,785.8	+0.013%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.7	+0.005%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0338%	4h	1,784.7	−0.052%	$567K	$351K	10x	as long as short