Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.019%

Price spread now: SunX against Phoenix−0.064%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$890.892% of the position

Long on Phoenix Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.064%, 7d avg −0.053%

Together, before fees−0.035%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.053%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,787.9	−0.0045	get 0.0006% / 1h	42m 42s	$278K	$193K	15x
Short	SunX SNDK-USDT	1,786.8	0	get 0.0000% / 8h	6h 42m	$788	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $9.39
Price spread: −0.064% → −0.053%: −$1.04
Slippage, 4 orders: −$74.23
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$80.89
Costs to cover: 0.892%
Break-even: 67.3 days

Slippage from Phoenix: live order book, 22 min ago; SunX: 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, 22 min ago	3.91 bp	12.5 bp −$13	27.3 bp −$273	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	28.07 bp	32.1 bp −$32	61.6 bp −$616	doesn't fit	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
Deribit SNDK_USDC-PERPETUAL	−0.0220%	1h	1,787.2	−0.038%	$51K	$328K	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,788	+0.006%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDK	−0.0103%	1h	1,787.4	−0.028%	$4.9M	$20.4M	10x	as long as short
Phoenix SNDKlong	−0.0045%	1h	1,787.9	long leg	$278K	$193K	15x
QFEX SNDK-USD	−0.0024%	1h	1,787.7	−0.010%	$1.8M	$17.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,788.3	+0.020%	$21.8M	$40.2M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,787	−0.049%	$286.6M	$1.82B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,787.6	−0.017%	$32.0M	$99.8M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,787.2	−0.039%	$86.3M	$830.5M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,786.7	−0.068%	$180.9M	$231.2M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNDKUSDT	0.0000%	8h	1,786.9	−0.059%	$47.5M	$164.2M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,787	−0.053%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,788.1	+0.009%	$22K	$1.1M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,787.4	−0.027%	$14K	$291K	10x	as long as short
SunX SNDK-USDTshort	0.0000%	8h	1,786.8	−0.064%	$788	$3.7M	20x
HTX SNDK-USDT	0.0000%	8h	1,786.9	−0.058%	$1.5M	$10.4M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,787.2	−0.039%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0005%	1h	1,788.5	+0.035%	$683	$37K	5x	as long as short
Nado SNDK-PERP	+0.0007%	1h	1,788.5	+0.035%	$363K	$1.4M	10x	as long as short
tradeXYZ xyz:SNDK	+0.0009%	1h	1,786.7	−0.067%	$114.5M	$146.6M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787.8	−0.007%	$1.7M	$16.1M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,787.4	−0.031%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,787.1	−0.046%	$472K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.675%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,787.2	−0.042%	$305K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,787.5	−0.021%	—	$584K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,787.7	−0.011%	$246K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,786.5	−0.080%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,787.6	−0.017%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,787.2	−0.037%	$731K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,787.5	−0.022%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,787	−0.052%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0088%	1h	1,787.2	−0.040%	$440K	$2.3M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,787.1	−0.047%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,787.6	−0.017%	$6.1M	$21.5M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,787.4	−0.027%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,786.7	−0.066%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0131%	1h	1,787.9	−0.001%	$130K	$365K	20x	as long as short
RISEx SNDK/USDC	+0.0257%	1h	1,788.9	+0.058%	$171K	$1.8M	20x	as long as short
edgeX SNDKUSDC	+0.0517%	4h	1,786.7	−0.068%	$567K	$354K	10x	as long as short