Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Bullet against Phoenix−0.274%62s7-day average −0.015% · 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—prices read too far apart to compare

costs, in and out, $10k−$380.378% of the position

Long on Phoenix Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.272%+$27 · spread now −0.274%, 7d avg −0.015%

Together, before fees+0.319%+$32 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: Bullet is 0.259% cheaper against Phoenix than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.015%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,749	0	get 0.0000% / 1h	31m 46s	$272K	$193K	15x
Short	Bullet SNDK-USD	1,744.2	0	get 0.0000% / 1h	31m 46s	$13K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Phoenix. 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 PhoenixbpFee BulletbpOrdersPrice spread, now −0.274%Rate

Funding earned: $0
Price spread: −0.274% → −0.015%: −$25.91
Slippage, 4 orders: −$22.79
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$63.7
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Phoenix: live order book, 64 min ago; Bullet: live order book, 2 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 Phoenix live order book, 64 min ago	2.84 bp	11.0 bp −$11	23.2 bp −$232	doesn't fit	doesn't fit
Sell Bullet live order book, 2 min ago	1.43 bp	7.3 bp −$7	21.1 bp −$211	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
GRVT SNDK_USDT_Perp	−0.0530%	8h	1,749.5	+0.031%	$21K	$2.2M	10x	as long as short
HTX SNDK-USDT	−0.0346%	8h	1,744	−0.285%	$1.4M	$10.6M	50x	as long as short
Bitget SNDKUSDT	−0.0243%	8h	1,745.2	−0.218%	$49.5M	$167.6M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,748.1	−0.050%	$4.0M	$4.5M	75x	as long as short
Nado SNDK-PERP	−0.0071%	1h	1,744.5	−0.260%	$330K	$1.5M	10x	as long as short
KuCoin SNDKUSDTM	−0.0046%	8h	1,744.8	−0.241%	$6.0M	$22.6M	20x	as long as short
QFEX SNDK-USD	−0.0002%	1h	1,745.1	−0.225%	$1.4M	$9.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,745.4	−0.208%	$21.3M	$32.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,745.5	−0.200%	$279.5M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,744.9	−0.232%	$31.6M	$104.6M	100x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SNDK-USDT-SWAP	0.0000%	8h	1,745.3	−0.212%	$81.6M	$821.9M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,746.4	−0.146%	$135K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,745.1	−0.221%	$178.2M	$218.7M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,748.8	−0.010%	$2.5M	$4.8M	—	as long as short
Phoenix SNDKlong	0.0000%	1h	1,749	long leg	$272K	$193K	15x
Bullet SNDK-USDshort	0.0000%	1h	1,744.2	−0.274%	$13K	$291K	10x
SunX SNDK-USDT	0.0000%	8h	1,744.5	−0.257%	$851	$3.3M	20x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,745.3	−0.209%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0006%	1h	1,743.1	−0.337%	—	$580K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0012%	1h	1,750	+0.054%	$765	$38K	5x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0014%	1h	1,744.2	−0.273%	$50K	$360K	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,745.3	−0.209%	$1.7M	$16.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,744.7	−0.244%	$1.3M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,744.7	−0.248%	$444K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.914%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,744.9	−0.236%	$249K	$1.5M	10x	as long as short
Paradex SNDK-USD-PERP	+0.0047%	8h	1,744.2	−0.276%	—	—	5x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,745.3	−0.212%	$240K	$655K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,744	−0.286%	$118.3M	$159.0M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,746.8	−0.126%	$4.5M	$19.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,744.5	−0.257%	$183K	$127K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,744.1	−0.278%	$713K	$521K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,745.2	−0.217%	$1.3M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,743.2	−0.334%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,745	−0.228%	$196K	$310K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,751.6	+0.148%	$67K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,745.1	−0.224%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,746.1	−0.164%	$427K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0286%	1h	1,744.2	−0.272%	$127K	$346K	20x	as long as short
edgeX SNDKUSDC	+0.0695%	4h	1,749.3	+0.018%	$556K	$351K	10x	as long as short