Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.011%

Price spread now: Bybit against Lighter−0.034%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$170.168% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.034%, 7d avg +0.032%

Together, before fees−0.048%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.066% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SNDK	1,787.9	0.0032	pay 0.0004% / 1h	13m 57s	$1.7M	$16.2M	20x
Short	Bybit SNDKUSDT	1,787.3	0	get 0.0000% / 8h	6h 13m	$32.0M	$99.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$6.72
Price spread: −0.034% → +0.032%: −$6.6
Slippage, 4 orders: −$5.85
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.17
Costs to cover: 0.168%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Bybit: 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 Lighter live order book, 5 min ago	0.56 bp	0.6 bp −$1	1.4 bp −$14	29.1 bp −$2,907	doesn't fit
Sell Bybit live order book, 5 min ago	0.31 bp	7.3 bp −$7	9.2 bp −$92	32.8 bp −$3,276	doesn't fit

SNDK on 39 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	−0.0186%	1h	1,786.7	−0.065%	$51K	$331K	10x	as long as short
Phoenix SNDK	−0.0045%	1h	1,785.5	−0.133%	$278K	$193K	15x	as long as short
Entropy io:SNDK	−0.0036%	1h	1,786	−0.105%	$4.9M	$20.5M	10x	as long as short
Nado SNDK-PERP	−0.0031%	1h	1,787.8	−0.003%	$360K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0024%	1h	1,786.4	−0.085%	$1.7M	$16.4M	10x	as long as short
tradeXYZ xyz:SNDK	−0.0014%	1h	1,786.7	−0.065%	$114.5M	$146.2M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.7	−0.063%	$21.8M	$36.8M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,786.7	−0.064%	$286.0M	$1.82B	75x	as long as short
Bybit SNDKUSDTshort	0.0000%	8h	1,787.3	−0.034%	$32.0M	$99.9M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,786.9	−0.054%	$85.5M	$829.0M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,786.7	−0.065%	$180.9M	$232.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,786.6	−0.069%	$44.0M	$164.7M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,785.4	−0.141%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,784.3	−0.200%	$16K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,786.9	−0.054%	$14K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,786	−0.102%	$723	$3.7M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,786.5	−0.078%	$1.4M	$10.4M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,786.6	−0.071%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0003%	1h	1,786.4	−0.084%	$665	$37K	5x	as long as short
Lighter SNDKlong	+0.0032%	1h	1,787.9	long leg	$1.7M	$16.2M	20x
Lighter RH SNDK	+0.0032%	1h	1,787.4	−0.028%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,787.5	−0.020%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.676%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.4	−0.193%	$312K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,786.3	−0.089%	—	$584K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0047%	8h	1,786.2	−0.093%	—	—	5x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,786.6	−0.071%	$246K	$645K	20x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,786.3	−0.088%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,786.3	−0.089%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786	−0.105%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,786.4	−0.081%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0088%	1h	1,784.9	−0.165%	$436K	$2.3M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,786.5	−0.078%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785.9	−0.111%	$6.1M	$21.6M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,785.3	−0.142%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,786.1	−0.101%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0131%	1h	1,787.4	−0.028%	$130K	$357K	20x	as long as short
edgeX SNDKUSDC	+0.0227%	4h	1,783.9	−0.224%	$567K	$353K	10x	as long as short
RISEx SNDK/USDC	+0.0257%	1h	1,787.3	−0.031%	$170K	$1.8M	20x	as long as short