Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.041%

Price spread now: Orderly against Phoenix−0.042%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 34 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,773.6	0	get 0.0000% / 1h	16m 53s	$276K	$195K	15x
Short	Orderly PERP_SNDK_USDC_mythos	1,772.9	0.0100	get 0.0100% / 8h	1h 16m	$8K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.042%Rate

Funding earned: $21
Price spread: −0.042% → 0.000%: −$4.23
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $3.77
Costs to cover: 0.130%
Break-even: 5.7 days

Slippage unknown: Phoenix: live order book, 63 min ago; Orderly: no order-book sample. Net counts fees only.

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, 63 min ago	3.96 bp	12.7 bp −$13	27.4 bp −$274	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin SNDK-USDT	−0.0120%	8h	1,773	−0.036%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDK	−0.0052%	1h	1,773.4	−0.011%	$4.5M	$20.5M	10x	as long as short
QFEX SNDK-USD	−0.0007%	1h	1,773.1	−0.027%	$2.2M	$21.9M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,774.1	+0.029%	$21.9M	$46.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,773.6	0.000%	$285.3M	$1.88B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,773.8	+0.012%	$31.8M	$105.4M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,773.6	0.000%	$87.4M	$842.0M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,773.6	0.000%	$183.2M	$241.7M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,773.5	−0.008%	$49.6M	$169.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,773.8	+0.013%	$2.6M	$4.7M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,773.6	+0.001%	$13K	$1.0M	10x	as long as short
Phoenix SNDKlong	0.0000%	1h	1,773.6	long leg	$276K	$195K	15x
Bullet SNDK-USD	0.0000%	1h	1,773.2	−0.025%	$14K	$292K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,773	−0.033%	$851	$3.9M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,773.5	−0.004%	$49K	$259K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,773.5	−0.006%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,773.4	−0.011%	$2.8M	$982K	50x	as long as short
Aftermath Perps SNDKUSD	+0.0008%	1h	1,774	+0.023%	$785	$37K	5x	as long as short
RISEx SNDK/USDC	+0.0015%	1h	1,774.6	+0.055%	$167K	$1.8M	20x	as long as short
Lighter SNDK	+0.0032%	1h	1,774.2	+0.036%	$1.5M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,773.7	+0.007%	$1.4M	$10.2M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,773.6	0.000%	$410K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.486%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,772.8	−0.043%	$284K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,773.3	−0.015%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,773.4	−0.011%	$245K	$670K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,773.5	−0.006%	$113.0M	$151.6M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,772.9	−0.039%	$197K	$89K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,773.3	−0.020%	$725K	$538K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,773.5	−0.004%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,773.5	−0.006%	$1.4M	$4.9M	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0056%	1h	1,774.8	+0.067%	$441K	$2.4M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,773	−0.033%	$1K	—	10x	as long as short
Nado SNDK-PERP	+0.0094%	1h	1,773.8	+0.014%	$386K	$1.4M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,773.6	+0.001%	$213K	$283K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,773.5	−0.006%	$6.0M	$22.5M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,774.5	+0.050%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythosshort	+0.0100%	8h	1,772.9	−0.042%	$8K	$2K	20x
Kraken Futures PF_SNDKUSD	+0.0386%	1h	1,773.8	+0.011%	$129K	$413K	20x	as long as short
edgeX SNDKUSDC	+0.0597%	4h	1,773.9	+0.019%	$563K	$355K	10x	as long as short