Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h +0.006%

Price spread now: OKX against Deribit+0.005%46s7-day average −0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.392% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.025%+$2 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.005%, 7d avg −0.008%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.025% in total (about 2.2% 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	Deribit SNDK_USDC-PERPETUAL	1,752.5	0.0298	pay 0.0037% / 1h	20m 28s	$50K	$360K	10x
Short	OKX SNDK-USDT-SWAP	1,752.6	0	get 0.0000% / 8h	7h 20m	$82.1M	$826.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$62.6
Price spread: +0.005% → −0.008%: $1.3
Slippage, 4 orders: −$22.25
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$100.55
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Deribit: live order book, 13 min ago; OKX: live order book, 4 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 Deribit live order book, 13 min ago	9.01 bp	16.2 bp −$16	20.5 bp −$205	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.29 bp	5.3 bp −$5	5.8 bp −$58	11.9 bp −$1,193	51.0 bp −$25.5K

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	−0.0285%	8h	1,747.9	−0.261%	$19K	$2.2M	10x	as long as short
Bitget SNDKUSDT	−0.0212%	8h	1,752	−0.030%	$49.9M	$168.1M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,752.3	−0.012%	$4.0M	$4.6M	75x	as long as short
HTX SNDK-USDT	−0.0050%	8h	1,751.1	−0.080%	$1.4M	$10.0M	50x	as long as short
KuCoin SNDKUSDTM	−0.0035%	8h	1,751.1	−0.078%	$6.0M	$22.6M	20x	as long as short
Nado SNDK-PERP	−0.0015%	1h	1,750.2	−0.134%	$333K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0002%	1h	1,752.3	−0.010%	$1.4M	$9.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,751.8	−0.042%	$21.3M	$32.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,752.3	−0.010%	$279.0M	$1.87B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,753	+0.027%	$32.0M	$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	1,752.6	+0.005%	$82.1M	$826.2M	75x
RISEx SNDK/USDC	0.0000%	1h	1,752.3	−0.013%	$136K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,752.4	−0.005%	$179.9M	$220.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,752.6	+0.003%	$2.5M	$4.8M	—	as long as short
Phoenix SNDK	0.0000%	1h	1,747.4	−0.292%	$272K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,752.5	−0.001%	$14K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,751	−0.089%	$970	$3.3M	20x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,752.3	−0.014%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0012%	1h	1,751.1	−0.080%	—	$581K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0013%	1h	1,747.4	−0.292%	$703	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,752.5	−0.003%	$1.7M	$16.6M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,752.2	−0.018%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,752	−0.031%	$385K	$2.2M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.708%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,751.1	−0.079%	$250K	$1.4M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,752.5	−0.001%	$245K	$668K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,751.6	−0.054%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,751.7	−0.046%	$118.9M	$158.8M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,749.7	−0.160%	$4.5M	$19.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,750.6	−0.109%	$184K	$129K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,750.2	−0.132%	$716K	$521K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,751.6	−0.052%	$1.3M	$5.3M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,751.4	−0.062%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,752	−0.027%	$196K	$310K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,748.1	−0.253%	$67K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,750.7	−0.103%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,751.1	−0.080%	$428K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0285%	1h	1,752.4	−0.008%	$128K	$350K	20x	as long as short
Deribit SNDK_USDC-PERPETUALlong	+0.0298%	1h	1,752.5	long leg	$50K	$360K	10x
edgeX SNDKUSDC	+0.0926%	4h	1,747.1	−0.306%	$555K	$349K	10x	as long as short