Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.019%
Price spread now: Lighter RH against Phoenix+0.084%75s7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as 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−$270.271% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now +0.084%, 7d avg +0.006%
=Together, before fees+0.081%+ Points / potential airdropLighter RH: Points live · farm board+$8 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 RH is 0.077% dearer against Phoenix than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.006%. The two prices were read 75 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 | 1,770.3 | 0 | get 0.0000% / 1h | 6m 10s | $276K | $188K | 15x |
| Short | Lighter RH SNDK | 1,771.8 | 0.0032 | get 0.0004% / 1h | 6m 10s | $1.2M | $9.8M | 10x |
Phoenix SNDK
Lighter RH SNDKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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: +0.084% → +0.006%
- $7.72
- Slippage, 4 orders
- −$20.09
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$12.65
- Costs to cover
- 0.271%
- Break-even
- 20.2 days
Slippage from Phoenix: live order book, 38 min ago; Lighter RH: live order book, 6 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, 38 min ago | 3.39 bp | 11.9 bp −$12 | 25.4 bp −$254 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 6 min ago | 1.50 bp | 1.7 bp −$2 | 3.0 bp −$30 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SNDKUSD | −0.0258% | 1h | 1,771.2 | +0.052% | $168K | $378K | 20x | as long as short |
| BloFin SNDK-USDT | −0.0120% | 8h | 1,771.8 | +0.086% | $3.9M | $4.7M | 75x | as long as short |
| QFEX SNDK-USD | −0.0001% | 1h | 1,771.4 | +0.059% | $1.5M | $9.3M | 10x | as long as short |
| Aster SNDKUSD1 | 0.0000% | 8h | 1,771.9 | +0.088% | $21.6M | $32.3M | 20x | as long as short |
| Binance SNDKUSDT | 0.0000% | 8h | 1,772.3 | +0.114% | $282.3M | $1.87B | 75x | as long as short |
| Bybit SNDKUSDT | 0.0000% | 8h | 1,771.9 | +0.089% | $31.8M | $107.1M | 100x | as long as short |
| OKX SNDK-USDT-SWAP | 0.0000% | 8h | 1,772.5 | +0.124% | $81.0M | $842.6M | 75x | as long as short |
| Gate SNDK_USDT | 0.0000% | 8h | 1,772.1 | +0.101% | $181.4M | $221.6M | 75x | as long as short |
| Bitget SNDKUSDT | 0.0000% | 8h | 1,772.4 | +0.117% | $48.7M | $172.7M | 75x | as long as short |
| Variational Omni SNDK | 0.0000% | 8h | 1,770.5 | +0.011% | $2.7M | $4.5M | — | as long as short |
Kraken Futures PF_SNDKUSD
BloFin SNDK-USDT
QFEX SNDK-USD
Aster SNDKUSD1
Binance SNDKUSDT
Bybit SNDKUSDT
OKX SNDK-USDT-SWAP
Gate SNDK_USDT
Bitget SNDKUSDT
Variational Omni SNDKShow all 40 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SNDK_USDT_Perp | 0.0000% | 8h | 1,772.6 | +0.129% | $25K | $2.6M | 10x | as long as short |
| Phoenix SNDKlong | 0.0000% | 1h | 1,770.3 | long leg | $276K | $188K | 15x | |
| Bullet SNDK-USD | 0.0000% | 1h | 1,772.4 | +0.119% | $14K | $290K | 10x | as long as short |
| SunX SNDK-USDT | 0.0000% | 8h | 1,771.2 | +0.051% | $694 | $3.1M | 20x | as long as short |
| Deribit SNDK_USDC-PERPETUAL | 0.0000% | 1h | 1,771.2 | +0.051% | $19K | $439K | 10x | as long as short |
| HTX SNDK-USDT | 0.0000% | 8h | 1,771 | +0.040% | $1.5M | $9.8M | 50x | as long as short |
| Phemex SNDKUSDT | 0.0000% | 8h | 1,772.4 | +0.117% | $2.8M | $1.1M | 50x | as long as short |
| Aftermath Perps SNDKUSD | +0.0022% | 1h | 1,771.9 | +0.088% | $723 | $39K | 5x | as long as short |
| Lighter RH SNDKshort | +0.0032% | 1h | 1,771.8 | +0.084% | $1.2M | $9.8M | 10x | |
| Extended SNDK_24_5-USD | +0.0032% | 1h | 1,770.8 | +0.026% | $410K | $2.4M | 10x | as long as short |
| Injective SNDK/USDC PERP | +0.0033% | 1h | 1,800 | +1.675% | $36 | $4K | 12x | as long as short |
| Arcus SNDK-USD | +0.0040% | 1h | 1,770.6 | +0.018% | $257K | $1.3M | 10x | as long as short |
| Vest SNDK-USD-PERP | +0.0046% | 1h | 1,771.4 | +0.063% | — | $574K | 10x | as long as short |
| Popdex SNDKUSDT | +0.0048% | 1h | 1,772.2 | +0.107% | $244K | $698K | 20x | as long as short |
| Entropy io:SNDK | +0.0050% | 1h | 1,770.7 | +0.023% | $4.5M | $19.2M | 10x | as long as short |
| Polymarket Perps SNDK-USD | +0.0050% | 1h | 1,771.6 | +0.073% | $188K | $132K | 10x | as long as short |
| SoDEX SNDK-USD | +0.0050% | 1h | 1,772 | +0.098% | $726K | $523K | 10x | as long as short |
| Ondo Perps SNDK-USD.P | +0.0050% | 1h | 1,771.8 | +0.085% | $1.4M | $5.3M | 5x | as long as short |
| Paradex SNDK-USD-PERP | +0.0051% | 8h | 1,770.6 | +0.020% | — | — | 5x | as long as short |
| Nado SNDK-PERP | +0.0052% | 1h | 1,771.1 | +0.044% | $324K | $1.5M | 10x | as long as short |
| tradeXYZ xyz:SNDK | +0.0053% | 1h | 1,771.6 | +0.073% | $122.2M | $151.0M | 10x | as long as short |
| Aevo SNDK-PERP | +0.0080% | 1h | 1,772.1 | +0.104% | $1K | — | 10x | as long as short |
| Pacifica SNDK | +0.0100% | 1h | 1,771.3 | +0.056% | $193K | $310K | 10x | as long as short |
| KuCoin SNDKUSDTM | +0.0100% | 8h | 1,770.9 | +0.036% | $6.1M | $23.1M | 20x | as long as short |
| ApeX Omni SNDKUSDT | +0.0100% | 1h | 1,772.6 | +0.131% | $68K | $271K | 50x | as long as short |
| Orderly PERP_SNDK_USDC_mythos | +0.0100% | 8h | 1,771.4 | +0.063% | $8K | $3K | 20x | as long as short |
| Coinbase International SNDK-PERP-INTX | +0.0152% | 1h | 1,770.1 | −0.010% | $448K | $2.2M | 10x | as long as short |
| Lighter SNDK | +0.0160% | 1h | 1,772.5 | +0.126% | $1.8M | $16.8M | 20x | as long as short |
| edgeX SNDKUSDC | +0.0306% | 4h | 1,771.3 | +0.059% | $563K | $338K | 10x | as long as short |
| RISEx SNDK/USDC | +0.0898% | 1h | 1,772.3 | +0.114% | $146K | $1.5M | 20x | as long as short |
GRVT SNDK_USDT_Perp
Bullet SNDK-USD
SunX SNDK-USDT
Deribit SNDK_USDC-PERPETUAL
HTX SNDK-USDT
Phemex SNDKUSDT
Aftermath Perps SNDKUSD
Extended SNDK_24_5-USD
Injective SNDK/USDC PERP
Arcus SNDK-USD
Vest SNDK-USD-PERP
Popdex SNDKUSDT
Entropy io:SNDK
Polymarket Perps SNDK-USD
SoDEX SNDK-USD
Ondo Perps SNDK-USD.P
Paradex SNDK-USD-PERP
Nado SNDK-PERP
tradeXYZ xyz:SNDK
Aevo SNDK-PERP
Pacifica SNDK
KuCoin SNDKUSDTM
ApeX Omni SNDKUSDT
Orderly PERP_SNDK_USDC_mythos
Coinbase International SNDK-PERP-INTX
Lighter SNDK
edgeX SNDKUSDC
RISEx SNDK/USDC