Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Deribit against Phoenix+0.047%70s7-day average −0.014% · 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—prices read too far apart to compare

costs, in and out, $10k−$520.517% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.047%, 7d avg −0.014%

Together, before fees−0.052%−$5 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: Deribit is 0.060% dearer against Phoenix than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 70 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	1,761.4	0	get 0.0000% / 1h	18m 14s	$274K	$189K	15x
Short	Deribit SNDK_USDC-PERPETUAL	1,762.2	0	get 0.0000% / 1h	18m 14s	$37K	$387K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → −0.014%: $6.01
Slippage, 4 orders: −$37.67
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$45.66
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from Phoenix: live order book, 30 min ago; Deribit: live order book, 33 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, 30 min ago	3.42 bp	12.2 bp −$12	26.0 bp −$260	doesn't fit	doesn't fit
Sell Deribit live order book, 33 min ago	4.84 bp	8.3 bp −$8	11.7 bp −$117	doesn't fit	doesn't fit

SNDK on 40 exchanges

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
BloFin SNDK-USDT	−0.0120%	8h	1,762.6	+0.069%	$4.0M	$4.6M	75x	as long as short
Nado SNDK-PERP	−0.0024%	1h	1,762.7	+0.073%	$325K	$1.5M	10x	as long as short
Bitget SNDKUSDT	−0.0023%	8h	1,763.3	+0.105%	$49.8M	$168.2M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,762.1	+0.041%	$21.5M	$32.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,762.9	+0.085%	$279.7M	$1.85B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,762.8	+0.079%	$31.6M	$105.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,763.5	+0.119%	$82.3M	$826.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,763.1	+0.096%	$137K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,763.1	+0.095%	$181.7M	$218.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,761.5	+0.006%	$2.7M	$4.7M	—	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SNDKlong	0.0000%	1h	1,761.4	long leg	$274K	$189K	15x
Bullet SNDK-USD	0.0000%	1h	1,763.2	+0.102%	$14K	$288K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,763.1	+0.097%	$746	$3.1M	20x	as long as short
Deribit SNDK_USDC-PERPETUALshort	0.0000%	1h	1,762.2	+0.047%	$37K	$387K	10x
HTX SNDK-USDT	0.0000%	8h	1,762.6	+0.068%	$1.4M	$9.7M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,763.1	+0.097%	$2.8M	$1.1M	50x	as long as short
QFEX SNDK-USD	0.0000%	1h	1,762.3	+0.052%	$1.5M	$9.4M	10x	as long as short
GRVT SNDK_USDT_Perp	+0.0005%	8h	1,761.7	+0.018%	$21K	$2.4M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,762.5	+0.061%	$673	$39K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,762.9	+0.084%	$1.2M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,761.9	+0.029%	$392K	$2.3M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.189%	$36	$9K	12x	as long as short
Lighter SNDK	+0.0040%	1h	1,763.4	+0.115%	$1.7M	$16.7M	20x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,761.9	+0.027%	$270K	$1.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,762.6	+0.069%	—	$569K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,762.9	+0.085%	$245K	$681K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,762.9	+0.085%	$120.1M	$155.0M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,762.2	+0.045%	$4.5M	$19.2M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,762.8	+0.079%	$186K	$130K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,762.6	+0.066%	$723K	$517K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,762.1	+0.041%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,761.8	+0.023%	$1.4M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,762.9	+0.085%	$1K	—	10x	as long as short
KuCoin SNDKUSDTM	+0.0097%	8h	1,761.2	−0.010%	$6.1M	$22.8M	20x	as long as short
Pacifica SNDK	+0.0100%	1h	1,762.1	+0.040%	$197K	$306K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,762.4	+0.058%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,762.3	+0.053%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0136%	1h	1,764.7	+0.188%	$442K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0553%	1h	1,762	+0.033%	$163K	$377K	20x	as long as short
edgeX SNDKUSDC	+0.0657%	4h	1,761.9	+0.029%	$560K	$339K	10x	as long as short