Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0471%/8h= −51.6% APRpaid last 24h +0.003%

Price spread now: GRVT against QFEX−0.032%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days+0.047%+$5 · spread now −0.032%, 7d avg +0.046%

Together, before fees+0.088%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GRVT is 0.078% cheaper against QFEX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.046%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.041% in total (about 3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SNDK-USD	1,745	−0.0002	get 0.0000% / 1h	27m 33s	$1.4M	$9.6M	10x
Short	GRVT SNDK_USDT_Perp	1,744.4	−0.0473	pay 0.0473% / 8h	7h 27m	$22K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against QFEX. 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 QFEXbpFee GRVTbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$98.88
Price spread: −0.032% → +0.046%: −$7.85
Slippage, 4 orders: −$7.27
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$132.99
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; GRVT: 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 QFEX live order book, 6 min ago	1.29 bp	6.3 bp −$6	6.6 bp −$66	9.6 bp −$960	doesn't fit
Sell GRVT live order book, 6 min ago	1.77 bp	7.2 bp −$7	doesn't fit	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
GRVT SNDK_USDT_Perpshort	−0.0473%	8h	1,744.4	−0.032%	$22K	$2.2M	10x
HTX SNDK-USDT	−0.0348%	8h	1,743.9	−0.065%	$1.4M	$10.6M	50x	as long as short
Bitget SNDKUSDT	−0.0235%	8h	1,744.6	−0.025%	$49.7M	$168.0M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,743.1	−0.111%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0049%	8h	1,745.4	+0.025%	$6.0M	$22.6M	20x	as long as short
Nado SNDK-PERP	−0.0045%	1h	1,746	+0.057%	$332K	$1.5M	10x	as long as short
QFEX SNDK-USDlong	−0.0002%	1h	1,745	long leg	$1.4M	$9.6M	10x
Aster SNDKUSD1	0.0000%	8h	1,744.8	−0.014%	$21.3M	$32.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,745.6	+0.036%	$278.6M	$1.87B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,745.5	+0.030%	$31.7M	$104.9M	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-SWAP	0.0000%	8h	1,744.5	−0.029%	$81.5M	$822.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,744.4	−0.035%	$135K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,745.1	+0.008%	$178.2M	$219.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,746.4	+0.080%	$2.5M	$4.8M	—	as long as short
Phoenix SNDK	0.0000%	1h	1,742.8	−0.126%	$271K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,744.4	−0.034%	$14K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,744.2	−0.049%	$757	$3.3M	20x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,745.8	+0.047%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0007%	1h	1,742.8	−0.129%	—	$585K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0013%	1h	1,746	+0.060%	$764	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,745.6	+0.033%	$1.7M	$16.5M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,744.8	−0.013%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,745.7	+0.039%	$393K	$2.1M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+3.150%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,743.9	−0.065%	$249K	$1.4M	10x	as long as short
Paradex SNDK-USD-PERP	+0.0047%	8h	1,745.2	+0.011%	—	—	5x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,744.9	−0.006%	$247K	$666K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,745.4	+0.023%	$118.4M	$159.3M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,745.7	+0.040%	$4.5M	$19.6M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,743.9	−0.063%	$183K	$127K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,742.7	−0.135%	$713K	$521K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,744.9	−0.006%	$1.3M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,743.8	−0.068%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,745.6	+0.037%	$196K	$310K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,745.5	+0.028%	$67K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,744.1	−0.050%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,743.6	−0.079%	$423K	$2.1M	10x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0272%	1h	1,744.5	−0.031%	$50K	$360K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0286%	1h	1,744.4	−0.037%	$127K	$346K	20x	as long as short
edgeX SNDKUSDC	+0.0713%	4h	1,745	0.000%	$554K	$352K	10x	as long as short