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% APRpaid last 24h +0.012%

Price spread now: OKX against Phoenix+0.069%116s7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as 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−$360.362% of the position

Long on Phoenix Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now +0.069%, 7d avg −0.019%

Together, before fees+0.184%+$18 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: OKX is 0.088% dearer against Phoenix than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.019%. The two prices were read 116 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	1,745.2	0	get 0.0000% / 1h	23m 30s	$272K	$193K	15x
Short	OKX SNDK-USDT-SWAP	1,746.4	0	get 0.0000% / 8h	7h 23m	$81.3M	$823.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → −0.019%: $8.8
Slippage, 4 orders: −$19.16
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.36
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Phoenix: live order book, 7 min ago; OKX: 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, 7 min ago	4.02 bp	12.8 bp −$13	27.6 bp −$276	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.29 bp	5.3 bp −$5	6.3 bp −$63	12.7 bp −$1,268	43.9 bp −$22.0K

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	−0.0386%	8h	1,745.2	+0.001%	$20K	$2.2M	10x	as long as short
HTX SNDK-USDT	−0.0234%	8h	1,748.1	+0.164%	$1.4M	$10.0M	50x	as long as short
Bitget SNDKUSDT	−0.0224%	8h	1,747.1	+0.110%	$49.8M	$168.0M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,745	−0.014%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0045%	8h	1,746.3	+0.064%	$6.0M	$22.6M	20x	as long as short
Nado SNDK-PERP	−0.0026%	1h	1,746.2	+0.056%	$332K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0002%	1h	1,746.9	+0.099%	$1.4M	$9.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,747.8	+0.151%	$21.3M	$32.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,747.6	+0.136%	$278.9M	$1.87B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,746.9	+0.096%	$31.8M	$105.0M	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-SWAPshort	0.0000%	8h	1,746.4	+0.069%	$81.3M	$823.4M	75x
RISEx SNDK/USDC	0.0000%	1h	1,747.6	+0.137%	$135K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,747.3	+0.123%	$179.2M	$220.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,743.6	−0.092%	$2.5M	$4.8M	—	as long as short
Phoenix SNDKlong	0.0000%	1h	1,745.2	long leg	$272K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,747.9	+0.155%	$13K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,746.9	+0.100%	$866	$3.3M	20x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,749.2	+0.228%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0008%	1h	1,744.8	−0.026%	—	$585K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0012%	1h	1,745.8	+0.034%	$667	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,747.7	+0.142%	$1.7M	$16.5M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,747.2	+0.116%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,746.4	+0.071%	$385K	$2.2M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+3.138%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,746.2	+0.056%	$249K	$1.4M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,746.7	+0.086%	$247K	$666K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,747	+0.102%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,747.1	+0.109%	$118.6M	$158.7M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,746.4	+0.069%	$4.5M	$19.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,745.8	+0.034%	$183K	$127K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,745.9	+0.041%	$714K	$521K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,746.7	+0.086%	$1.3M	$5.3M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,747.1	+0.109%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,747.3	+0.120%	$196K	$310K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,746.8	+0.089%	$67K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,747.6	+0.135%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,747.1	+0.107%	$427K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0286%	1h	1,748.4	+0.184%	$127K	$350K	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0586%	1h	1,748.2	+0.172%	$50K	$360K	10x	as long as short
edgeX SNDKUSDC	+0.0981%	4h	1,744.5	−0.043%	$554K	$349K	10x	as long as short