Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Phoenix against Deribit−0.006%50s7-day average +0.015% · 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—prices read too far apart to compare

costs, in and out, $10k−$500.500% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.006%, 7d avg +0.015%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.021% cheaper against Deribit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.015%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SNDK_USDC-PERPETUAL	1,761.7	0	get 0.0000% / 1h	9m 26s	$51K	$355K	10x
Short	Phoenix SNDK	1,761.6	0	get 0.0000% / 1h	9m 26s	$274K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0
Price spread: −0.006% → +0.015%: −$2.08
Slippage, 4 orders: −$35.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$52.04
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Deribit: live order book, 29 min ago; Phoenix: live order book, 26 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, 29 min ago	6.24 bp	10.3 bp −$10	14.1 bp −$141	doesn't fit	doesn't fit
Sell Phoenix live order book, 26 min ago	2.84 bp	11.1 bp −$11	23.2 bp −$232	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
Bitget SNDKUSDT	−0.0252%	8h	1,761.7	+0.002%	$48.2M	$165.9M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,760.2	−0.084%	$3.9M	$4.6M	75x	as long as short
KuCoin SNDKUSDTM	−0.0004%	8h	1,760.8	−0.053%	$6.0M	$22.5M	20x	as long as short
Nado SNDK-PERP	−0.0002%	1h	1,762.1	+0.022%	$330K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0001%	1h	1,761.3	−0.023%	$1.4M	$9.9M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,761.9	+0.010%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,761.5	−0.010%	$280.0M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,761.9	+0.011%	$31.8M	$103.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,761.6	−0.006%	$82.3M	$833.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,762.5	+0.044%	$120K	$1.6M	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,761.5	−0.011%	$179.2M	$229.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,760	−0.095%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,760.2	−0.083%	$22K	$2.1M	10x	as long as short
Phoenix SNDKshort	0.0000%	1h	1,761.6	−0.006%	$274K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,761.5	−0.014%	$14K	$289K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,760.9	−0.045%	$733	$3.4M	20x	as long as short
Deribit SNDK_USDC-PERPETUALlong	0.0000%	1h	1,761.7	long leg	$51K	$355K	10x
HTX SNDK-USDT	0.0000%	8h	1,759.6	−0.121%	$1.4M	$10.5M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,761.9	+0.012%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0015%	1h	1,759.3	−0.135%	—	$579K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0016%	1h	1,761.9	+0.009%	$715	$38K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,761.8	+0.003%	$1.2M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,761.3	−0.021%	$493K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.172%	$36	$9K	12x	as long as short
Lighter SNDK	+0.0040%	1h	1,762.3	+0.036%	$1.8M	$16.4M	20x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,760.1	−0.093%	$254K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,761.6	−0.006%	$242K	$652K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,761.7	0.000%	$119.9M	$157.5M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,761.2	−0.028%	$4.6M	$19.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,760.6	−0.062%	$185K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,760.8	−0.053%	$720K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,761.2	−0.030%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,761.1	−0.034%	$1.4M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,761.4	−0.018%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,761.7	+0.001%	$197K	$307K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760.5	−0.066%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,761.3	−0.023%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,762.4	+0.040%	$428K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0274%	1h	1,762.1	+0.021%	$126K	$340K	20x	as long as short
edgeX SNDKUSDC	+0.0581%	4h	1,760	−0.099%	$559K	$350K	10x	as long as short