Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.018%

Price spread now: Gate against Phoenix−0.003%47s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.411% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.003%, 7d avg −0.018%

Together, before fees+0.125%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 47 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	1,785.6	−0.0089	get 0.0011% / 1h	54m 29s	$278K	$193K	15x
Short	Gate SNDK_USDT	1,785.6	0	get 0.0000% / 8h	3h 54m	$180.3M	$228.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.003%Rate

Funding earned: $18.77
Price spread: −0.003% → −0.018%: $1.49
Slippage, 4 orders: −$19.1
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$20.84
Costs to cover: 0.411%
Break-even: 14.8 days

Slippage from Phoenix: live order book, 61 min ago; Gate: live order book, 5 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, 61 min ago	2.79 bp	10.1 bp −$10	21.0 bp −$210	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.03 bp	10.9 bp −$11	20.2 bp −$202	40.0 bp −$4,003	65.5 bp −$32.7K

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
Entropy io:SNDK	−0.0127%	1h	1,785.9	+0.017%	$4.9M	$19.8M	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,785	−0.035%	$4.0M	$4.4M	75x	as long as short
Phoenix SNDKlong	−0.0089%	1h	1,785.6	long leg	$278K	$193K	15x
Nado SNDK-PERP	−0.0050%	1h	1,786.1	+0.029%	$349K	$1.5M	10x	as long as short
KuCoin SNDKUSDTM	−0.0034%	8h	1,786.1	+0.026%	$6.1M	$22.2M	20x	as long as short
QFEX SNDK-USD	−0.0019%	1h	1,785	−0.031%	$1.4M	$12.7M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0008%	1h	1,785.6	−0.002%	$436K	$2.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.6	+0.058%	$21.8M	$34.8M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,785.4	−0.014%	$284.2M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,785.5	−0.006%	$32.3M	$100.8M	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	1,785.2	−0.022%	$83.6M	$825.7M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,786.6	+0.053%	$171K	$1.6M	20x	as long as short
Gate SNDK_USDTshort	0.0000%	8h	1,785.6	−0.003%	$180.3M	$228.6M	75x
Bitget SNDKUSDT	0.0000%	8h	1,785.4	−0.012%	$43.9M	$161.7M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,784.9	−0.040%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,785.5	−0.003%	$20K	$1.5M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,785	−0.033%	$14K	$288K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,783.2	−0.137%	$769	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,785	−0.036%	$51K	$345K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,784.2	−0.081%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,785	−0.036%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0005%	1h	1,786.8	+0.068%	$665	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,786.4	+0.046%	$1.7M	$15.5M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,786.1	+0.026%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,785.7	+0.006%	$439K	$1.9M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.804%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,785.1	−0.030%	$277K	$1.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,784.8	−0.044%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,785.3	−0.017%	$245K	$648K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,785.3	−0.018%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,785.5	−0.006%	$118.2M	$149.6M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,784.9	−0.039%	$187K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785	−0.035%	$730K	$514K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,784.3	−0.073%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,784.4	−0.065%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,785.6	−0.002%	$199K	$289K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,786.6	+0.058%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,784.2	−0.081%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0121%	1h	1,785.4	−0.013%	$130K	$352K	20x	as long as short
edgeX SNDKUSDC	+0.0930%	4h	1,785.7	+0.008%	$567K	$351K	10x	as long as short