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 +0.014%

Price spread now: Popdex against Phemex−0.010%7-day average −0.007% · 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−$74as in the Price arb table

costs, in and out, $10k−$740.740% of the position

Long on Phemex Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.010%, 7d avg −0.007%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,761.1	0	get 0.0000% / 8h	1h 28m	$2.8M	$1.1M	50x
Short	Popdex SNDKUSDT	1,760.9	0.0048	get 0.0006% / 1h	28m 16s	$242K	$668K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.010%Rate

Funding earned: $10.08
Price spread: −0.010% → −0.007%: −$0.34
Slippage, 4 orders: −$55.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$64.3
Costs to cover: 0.740%
Break-even: 51.7 days

Slippage from Phemex: live order book, 5 min ago; Popdex: live order book, 16 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, 5 min ago	4.29 bp	30.2 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 16 min ago	0.28 bp	3.5 bp −$3	10.2 bp −$102	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	−0.0370%	8h	1,760.9	−0.012%	$48.0M	$166.2M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,760.1	−0.057%	$3.9M	$4.6M	75x	as long as short
Deribit SNDK_USDC-PERPETUAL	−0.0113%	1h	1,760.7	−0.021%	$51K	$351K	10x	as long as short
KuCoin SNDKUSDTM	−0.0012%	8h	1,760.1	−0.055%	$6.0M	$22.2M	20x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,760.4	−0.037%	$1.4M	$10.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,761.4	+0.019%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,760.7	−0.022%	$280.2M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,761	−0.002%	$31.8M	$103.4M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,760.7	−0.022%	$82.3M	$835.2M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,761.6	+0.031%	$120K	$1.6M	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,760.8	−0.019%	$177.3M	$230.9M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,759	−0.117%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,759.8	−0.073%	$10K	$1.9M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,758.9	−0.124%	$274K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,760.9	−0.008%	$13K	$289K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,760.5	−0.036%	$864	$3.5M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,759.9	−0.068%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,761.1	long leg	$2.8M	$1.1M	50x
Vest SNDK-USD-PERP	+0.0014%	1h	1,758.3	−0.159%	—	$581K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,759.4	−0.093%	$722	$38K	5x	as long as short
Nado SNDK-PERP	+0.0022%	1h	1,761.2	+0.007%	$328K	$1.5M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,761.5	+0.024%	$1.8M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,761	−0.005%	$1.2M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,760.7	−0.021%	$491K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.208%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,758.6	−0.139%	$253K	$1.4M	10x	as long as short
Popdex SNDKUSDTshort	+0.0048%	1h	1,760.9	−0.010%	$242K	$668K	20x
tradeXYZ xyz:SNDK	+0.0050%	1h	1,760.9	−0.010%	$118.5M	$158.9M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,759.9	−0.067%	$4.7M	$19.7M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,759.8	−0.073%	$185K	$132K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,760.4	−0.039%	$720K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,760.5	−0.035%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,760.8	−0.016%	$1.3M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,760.5	−0.033%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,760.7	−0.021%	$197K	$304K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760	−0.061%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,760.3	−0.046%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,761	−0.006%	$431K	$2.3M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,761.1	+0.001%	$127K	$346K	20x	as long as short
edgeX SNDKUSDC	+0.0890%	4h	1,758.6	−0.141%	$559K	$353K	10x	as long as short