Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h +0.011%

Price spread now: Popdex against Bybit−0.036%7-day average −0.009% · 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−$25as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on Bybit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.036%, 7d avg −0.009%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Popdex is 0.027% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SNDKUSDT	1,787.2	0	get 0.0000% / 8h	6h 56m	$31.8M	$100.0M	100x
Short	Popdex SNDKUSDT	1,786.6	−0.0064	pay 0.0008% / 1h	56m 36s	$246K	$644K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Bybit. 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 BybitbpFee PopdexbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$13.44
Price spread: −0.036% → −0.009%: −$2.68
Slippage, 4 orders: −$5.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$38.89
Costs to cover: 0.228%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Popdex: live order book, 12 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 Bybit live order book, 2 min ago	0.34 bp	8.1 bp −$8	13.2 bp −$132	39.3 bp −$3,926	doesn't fit
Sell Popdex live order book, 12 min ago	0.56 bp	3.8 bp −$4	10.3 bp −$103	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	−0.0270%	1h	1,787.2	−0.004%	$51K	$328K	10x	as long as short
Entropy io:SNDK	−0.0234%	1h	1,788.3	+0.059%	$4.9M	$20.5M	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,786.8	−0.023%	$4.1M	$4.5M	75x	as long as short
tradeXYZ xyz:SNDK	−0.0073%	1h	1,787.1	−0.008%	$114.8M	$146.5M	10x	as long as short
Popdex SNDKUSDTshort	−0.0064%	1h	1,786.6	−0.036%	$246K	$644K	20x
QFEX SNDK-USD	−0.0024%	1h	1,786.4	−0.049%	$1.9M	$18.1M	10x	as long as short
Nado SNDK-PERP	−0.0016%	1h	1,788.5	+0.072%	$347K	$1.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,788.6	+0.073%	$21.8M	$42.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,786.8	−0.026%	$286.7M	$1.83B	75x	as long as short
Bybit SNDKUSDTlong	0.0000%	8h	1,787.2	long leg	$31.8M	$100.0M	100x

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	1,786.7	−0.030%	$86.6M	$831.0M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,786.7	−0.033%	$182.0M	$230.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,787.3	+0.004%	$47.7M	$164.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,789.2	+0.111%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,788.6	+0.078%	$10K	$1.1M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,787.8	+0.031%	$278K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,787.2	−0.002%	$13K	$292K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,786.3	−0.055%	$593	$3.7M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,786.9	−0.018%	$1.5M	$10.3M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,787.2	−0.002%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0006%	1h	1,789.5	+0.128%	$746	$37K	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0019%	1h	1,786.8	−0.025%	$1.4M	$5.1M	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,788.3	+0.057%	$1.7M	$16.1M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,787.9	+0.035%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,787.4	+0.010%	$464K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.712%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,787.7	+0.025%	$306K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,787.7	+0.025%	—	$585K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,786.9	−0.016%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,787.2	−0.002%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,787.1	−0.007%	$731K	$515K	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,786.7	−0.030%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0088%	1h	1,787.2	−0.003%	$440K	$2.3M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,787.2	−0.004%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,788.2	+0.053%	$6.1M	$21.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,788.9	+0.091%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,786.9	−0.018%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0131%	1h	1,787.6	+0.020%	$130K	$366K	20x	as long as short
edgeX SNDKUSDC	+0.0220%	4h	1,788.7	+0.081%	$568K	$351K	10x	as long as short
RISEx SNDK/USDC	+0.0257%	1h	1,787.6	+0.021%	$171K	$1.8M	20x	as long as short