Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.011%

Price spread now: Lighter against Phemex−0.053%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$650.649% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.053%, 7d avg −0.002%

Together, before fees+0.238%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.051% cheaper against Phemex than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of −0.002%). If the spread goes back, that is −$5 on $10k: about 3.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,762	0	get 0.0000% / 8h	1h 54m	$2.8M	$1.1M	50x
Short	Lighter SNDK	1,761.1	0.0048	get 0.0006% / 1h	54m 37s	$1.8M	$16.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.053%Rate

Funding earned: $10.08
Price spread: −0.053% → −0.002%: −$5.15
Slippage, 4 orders: −$52.95
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$60.02
Costs to cover: 0.649%
Break-even: 48.7 days

Slippage from Phemex: live order book, 4 min ago; Lighter: live order book, 4 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	3.65 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.48 bp	0.5 bp $0	1.3 bp −$13	27.5 bp −$2,751	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	−0.0229%	8h	1,760.4	−0.090%	$47.3M	$165.3M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,762.1	+0.004%	$3.9M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0018%	8h	1,760.6	−0.082%	$6.0M	$22.2M	20x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,759.3	−0.153%	$1.3M	$10.5M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,761	−0.058%	$21.5M	$33.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,759.8	−0.123%	$279.5M	$1.85B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,760.3	−0.099%	$31.7M	$103.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,760.3	−0.097%	$82.0M	$832.6M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,760.9	−0.063%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,759.8	−0.126%	$176.5M	$230.0M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNDK	0.0000%	8h	1,761.3	−0.040%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,763.4	+0.076%	$14K	$1.9M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,766.7	+0.266%	$275K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,761.6	−0.021%	$14K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,761.6	−0.026%	$1K	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,762.2	+0.011%	$51K	$350K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,761	−0.057%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,762	long leg	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0015%	1h	1,764.9	+0.164%	$657	$38K	5x	as long as short
Vest SNDK-USD-PERP	+0.0017%	1h	1,758.1	−0.221%	—	$581K	10x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,760.2	−0.104%	$1.3M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,759.3	−0.153%	$488K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.154%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,762.1	+0.002%	$256K	$1.5M	10x	as long as short
Nado SNDK-PERP	+0.0045%	1h	1,760.7	−0.076%	$328K	$1.5M	10x	as long as short
Lighter SNDKshort	+0.0048%	1h	1,761.1	−0.053%	$1.8M	$16.2M	20x
Popdex SNDKUSDT	+0.0048%	1h	1,760	−0.114%	$242K	$675K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,760.1	−0.108%	$118.5M	$158.3M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,762.4	+0.022%	$4.7M	$19.7M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,759.6	−0.137%	$184K	$131K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,761.9	−0.009%	$720K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,759.9	−0.119%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,760.5	−0.086%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,761.7	−0.015%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,760.2	−0.103%	$196K	$303K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,763.9	+0.108%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,761.9	−0.004%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,766.2	+0.238%	$432K	$2.3M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,762.4	+0.020%	$127K	$347K	20x	as long as short
edgeX SNDKUSDC	+0.0883%	4h	1,766	+0.224%	$561K	$351K	10x	as long as short