Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.025%
Price spread now: Lighter against Phoenix+0.073%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$240.239% of the position
Funding, last 7 days+0.157%+$16 on $10k
+Price spread, last 4 days (all we have)+0.246%+$25 · spread now +0.073%, 7d avg −0.002%
=Together, before fees+0.403%+ Points / potential airdropLighter: Season 3 · farm board+$40 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.075% dearer against Phoenix than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.002%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SNDK | 1,761 | 0 | get 0.0000% / 1h | 18m 22s | $274K | $193K | 15x |
| Short | Lighter SNDK | 1,762.3 | 0.0032 | get 0.0004% / 1h | 18m 22s | $1.8M | $16.4M | 20x |
Phoenix SNDK
Lighter SNDKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $6.72
- Price spread: +0.073% → −0.002%
- $7.5
- Slippage, 4 orders
- −$16.88
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$9.66
- Costs to cover
- 0.239%
- Break-even
- 17.1 days
Slippage from Phoenix: live order book, 17 min ago; Lighter: 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, 17 min ago | 2.84 bp | 11.0 bp −$11 | 23.2 bp −$232 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 0.80 bp | 0.9 bp −$1 | 1.4 bp −$14 | 31.5 bp −$3,146 | 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 | −0.0270% | 8h | 1,762.2 | +0.066% | $48.2M | $165.9M | 75x | as long as short |
| BloFin SNDK-USDT | −0.0120% | 8h | 1,761.9 | +0.049% | $4.0M | $4.6M | 75x | as long as short |
| KuCoin SNDKUSDTM | −0.0012% | 8h | 1,760.8 | −0.009% | $6.0M | $22.5M | 20x | as long as short |
| Nado SNDK-PERP | −0.0009% | 1h | 1,761.9 | +0.054% | $330K | $1.5M | 10x | as long as short |
| QFEX SNDK-USD | −0.0001% | 1h | 1,761.4 | +0.025% | $1.4M | $9.9M | 10x | as long as short |
| Aster SNDKUSD1 | 0.0000% | 8h | 1,762 | +0.059% | $21.5M | $32.9M | 20x | as long as short |
| Binance SNDKUSDT | 0.0000% | 8h | 1,761.8 | +0.044% | $280.2M | $1.86B | 75x | as long as short |
| Bybit SNDKUSDT | 0.0000% | 8h | 1,762.2 | +0.067% | $31.8M | $103.6M | 100x | as long as short |
| OKX SNDK-USDT-SWAP | 0.0000% | 8h | 1,762.1 | +0.062% | $82.3M | $833.9M | 75x | as long as short |
| RISEx SNDK/USDC | 0.0000% | 1h | 1,762.3 | +0.075% | $120K | $1.6M | 20x | as long as short |
Bitget SNDKUSDT
BloFin SNDK-USDT
KuCoin SNDKUSDTM
Nado SNDK-PERP
QFEX SNDK-USD
Aster SNDKUSD1
Binance SNDKUSDT
Bybit SNDKUSDT
OKX SNDK-USDT-SWAP
RISEx SNDK/USDCShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SNDK_USDT | 0.0000% | 8h | 1,761.9 | +0.053% | $179.3M | $229.3M | 75x | as long as short |
| Variational Omni SNDK | 0.0000% | 8h | 1,760.4 | −0.031% | $2.5M | $4.7M | — | as long as short |
| GRVT SNDK_USDT_Perp | 0.0000% | 8h | 1,761.5 | +0.026% | $26K | $2.1M | 10x | as long as short |
| Phoenix SNDKlong | 0.0000% | 1h | 1,761 | long leg | $274K | $193K | 15x | |
| Bullet SNDK-USD | 0.0000% | 1h | 1,762.3 | +0.075% | $14K | $290K | 10x | as long as short |
| SunX SNDK-USDT | 0.0000% | 8h | 1,761.5 | +0.027% | $1K | $3.4M | 20x | as long as short |
| Deribit SNDK_USDC-PERPETUAL | 0.0000% | 1h | 1,761.6 | +0.035% | $51K | $355K | 10x | as long as short |
| HTX SNDK-USDT | 0.0000% | 8h | 1,762 | +0.056% | $1.4M | $10.5M | 50x | as long as short |
| Phemex SNDKUSDT | 0.0000% | 8h | 1,761.9 | +0.053% | $2.8M | $1.1M | 50x | as long as short |
| Aftermath Perps SNDKUSD | +0.0014% | 1h | 1,761.6 | +0.034% | $677 | $38K | 5x | as long as short |
| Vest SNDK-USD-PERP | +0.0016% | 1h | 1,759.7 | −0.074% | — | $579K | 10x | as long as short |
| Lighter SNDKshort | +0.0032% | 1h | 1,762.3 | +0.073% | $1.8M | $16.4M | 20x | |
| Lighter RH SNDK | +0.0032% | 1h | 1,761.8 | +0.045% | $1.2M | $9.5M | 10x | as long as short |
| Extended SNDK_24_5-USD | +0.0032% | 1h | 1,761.5 | +0.027% | $495K | $2.0M | 10x | as long as short |
| Injective SNDK/USDC PERP | +0.0033% | 1h | 1,800 | +2.212% | $36 | $9K | 12x | as long as short |
| Arcus SNDK-USD | +0.0040% | 1h | 1,760.2 | −0.044% | $254K | $1.5M | 10x | as long as short |
| Popdex SNDKUSDT | +0.0048% | 1h | 1,761.7 | +0.040% | $242K | $652K | 20x | as long as short |
| tradeXYZ xyz:SNDK | +0.0050% | 1h | 1,761.8 | +0.045% | $119.8M | $157.8M | 10x | as long as short |
| Entropy io:SNDK | +0.0050% | 1h | 1,761.1 | +0.006% | $4.6M | $19.5M | 10x | as long as short |
| Polymarket Perps SNDK-USD | +0.0050% | 1h | 1,760.8 | −0.011% | $185K | $128K | 10x | as long as short |
| SoDEX SNDK-USD | +0.0050% | 1h | 1,761.9 | +0.050% | $720K | $520K | 10x | as long as short |
| Paradex SNDK-USD-PERP | +0.0050% | 8h | 1,761.5 | +0.028% | — | — | 5x | as long as short |
| Ondo Perps SNDK-USD.P | +0.0050% | 1h | 1,762 | +0.057% | $1.4M | $5.2M | 5x | as long as short |
| Aevo SNDK-PERP | +0.0080% | 1h | 1,761.5 | +0.030% | $1K | — | 10x | as long as short |
| Pacifica SNDK | +0.0100% | 1h | 1,761.6 | +0.034% | $197K | $307K | 10x | as long as short |
| ApeX Omni SNDKUSDT | +0.0100% | 1h | 1,760.2 | −0.047% | $68K | $270K | 50x | as long as short |
| Orderly PERP_SNDK_USDC_mythos | +0.0100% | 8h | 1,761.6 | +0.032% | $8K | $3K | 20x | as long as short |
| Coinbase International SNDK-PERP-INTX | +0.0112% | 1h | 1,760.1 | −0.054% | $428K | $2.1M | 10x | as long as short |
| Kraken Futures PF_SNDKUSD | +0.0274% | 1h | 1,762.9 | +0.106% | $127K | $338K | 20x | as long as short |
| edgeX SNDKUSDC | +0.0444% | 4h | 1,758.8 | −0.127% | $559K | $350K | 10x | as long as short |
Gate SNDK_USDT
Variational Omni SNDK
GRVT SNDK_USDT_Perp
Bullet SNDK-USD
SunX SNDK-USDT
Deribit SNDK_USDC-PERPETUAL
HTX SNDK-USDT
Phemex SNDKUSDT
Aftermath Perps SNDKUSD
Vest SNDK-USD-PERP
Lighter RH SNDK
Extended SNDK_24_5-USD
Injective SNDK/USDC PERP
Arcus SNDK-USD
Popdex SNDKUSDT
tradeXYZ xyz:SNDK
Entropy io:SNDK
Polymarket Perps SNDK-USD
SoDEX SNDK-USD
Paradex SNDK-USD-PERP
Ondo Perps SNDK-USD.P
Aevo SNDK-PERP
Pacifica SNDK
ApeX Omni SNDKUSDT
Orderly PERP_SNDK_USDC_mythos
Coinbase International SNDK-PERP-INTX
Kraken Futures PF_SNDKUSD
edgeX SNDKUSDC