Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.004%

Price spread now: QFEX against Phemex+0.030%7-day average −0.020% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$770.775% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.030%, 7d avg −0.020%

Together, before fees−0.018%−$2 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: QFEX is 0.051% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,759.9	0	get 0.0000% / 8h	1h 45m	$2.8M	$1.1M	50x
Short	QFEX SNDK-USD	1,760.4	−0.0008	pay 0.0001% / 1h	45m 09s	$1.4M	$10.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$1.65
Price spread: +0.030% → −0.020%: $5.05
Slippage, 4 orders: −$55.47
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$74.06
Costs to cover: 0.775%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; QFEX: 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, 3 min ago	4.52 bp	35.9 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	0.65 bp	6.1 bp −$6	6.7 bp −$67	11.8 bp −$1,179	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	−0.0282%	8h	1,760.7	+0.046%	$47.3M	$165.5M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,759.9	+0.002%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0012%	8h	1,760.4	+0.028%	$6.0M	$22.2M	20x	as long as short
QFEX SNDK-USDshort	−0.0008%	1h	1,760.4	+0.030%	$1.4M	$10.5M	10x
Aster SNDKUSD1	0.0000%	8h	1,760.7	+0.044%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,759.9	0.000%	$279.5M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,760.1	+0.013%	$31.7M	$103.4M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,759.8	−0.006%	$82.3M	$834.4M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,760.8	+0.048%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,759.7	−0.010%	$176.3M	$230.4M	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	1,758.8	−0.060%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,759.2	−0.039%	$14K	$1.9M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,760	+0.006%	$274K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,761	+0.063%	$13K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,760.3	+0.024%	$1K	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,760.9	+0.059%	$51K	$351K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,760.5	+0.035%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,759.9	long leg	$2.8M	$1.1M	50x
Vest SNDK-USD-PERP	+0.0014%	1h	1,758.1	−0.104%	—	$581K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,761.4	+0.084%	$704	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,761.6	+0.095%	$1.8M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,760.6	+0.039%	$1.3M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,760.3	+0.022%	$497K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.276%	$36	$9K	12x	as long as short
Nado SNDK-PERP	+0.0040%	1h	1,760.3	+0.022%	$329K	$1.5M	10x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,759.6	−0.016%	$253K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,761	+0.063%	$243K	$675K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,760	+0.006%	$118.5M	$158.8M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,760.1	+0.011%	$4.7M	$19.8M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,760.2	+0.017%	$184K	$131K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,759.7	−0.011%	$720K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,759.4	−0.029%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,759	−0.051%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,760.6	+0.037%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,759.9	−0.002%	$196K	$303K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,759.4	−0.027%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,760.3	+0.024%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,761.5	+0.091%	$431K	$2.3M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,761.1	+0.069%	$127K	$347K	20x	as long as short
edgeX SNDKUSDC	+0.0925%	4h	1,758.9	−0.058%	$559K	$353K	10x	as long as short