SNDK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0205%/8h= −22.5% APRnext payment −$0.26 per $10,000 · paid last 24h −0.029%

Price spread now: Entropy against Lighter−0.032%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Lighter Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.032%, 7d avg −0.045%

Together, before fees−0.157%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.134% in total (about -7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. 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	Lighter SNDK	1,776.5	0.0120	pay 0.0015% / 1h	13m 23s	$1.6M	$16.4M	20x
Short	Entropy io:SNDK	1,775.9	−0.0085	pay 0.0011% / 1h	13m 23s	$4.6M	$20.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now −0.032%Rate

Funding earned: −$43.07
Price spread: −0.032% → −0.045%: $1.28
Slippage, 4 orders: −$2.68
Fee Lighter: 0 bp × 2 orders: $0
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$62.46
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Entropy: 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 Lighter live order book, 5 min ago	0.48 bp	0.5 bp −$1	1.1 bp −$11	27.5 bp −$2,746	doesn't fit
Sell Entropy live order book, 4 min ago	0.28 bp	10.1 bp −$10	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
BloFin SNDK-USDT	−0.0120%	8h	1,776.6	+0.008%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDKshort	−0.0085%	1h	1,775.9	−0.032%	$4.6M	$20.4M	10x
QFEX SNDK-USD	−0.0004%	1h	1,775.5	−0.057%	$2.2M	$21.7M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,776.2	−0.013%	$21.8M	$46.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,775.9	−0.032%	$283.5M	$1.88B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,776	−0.026%	$31.6M	$105.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,776.1	−0.021%	$86.8M	$844.8M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,775.5	−0.054%	$183.7M	$240.1M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,775.4	−0.059%	$47.8M	$171.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,777.7	+0.067%	$2.6M	$4.7M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,777.9	+0.081%	$12K	$1.0M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,777.6	+0.064%	$277K	$195K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,775.6	−0.049%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,774.8	−0.096%	$845	$3.9M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,776.4	−0.002%	$50K	$303K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,775.8	−0.039%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,775.8	−0.039%	$2.8M	$1.0M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,777.1	+0.033%	$671	$37K	5x	as long as short
RISEx SNDK/USDC	+0.0018%	1h	1,776.8	+0.017%	$174K	$1.8M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,775.8	−0.037%	$1.3M	$10.0M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,776	−0.027%	$412K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.322%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,775.1	−0.077%	$285K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,775.7	−0.044%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,775.9	−0.032%	$245K	$670K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,775.3	−0.066%	$113.1M	$151.9M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,775.1	−0.077%	$202K	$125K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,775.6	−0.050%	$726K	$538K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,775.4	−0.058%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,777	+0.030%	$1.4M	$4.9M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,775.8	−0.036%	$1K	—	10x	as long as short
edgeX SNDKUSDC	+0.0080%	4h	1,776.8	+0.020%	$564K	$356K	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0096%	1h	1,779	+0.144%	$441K	$2.4M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,775.6	−0.051%	$211K	$281K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,776.5	+0.003%	$6.0M	$22.2M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,777.6	+0.061%	$68K	$268K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,776.2	−0.018%	$8K	$2K	20x	as long as short
Lighter SNDKlong	+0.0120%	1h	1,776.5	long leg	$1.6M	$16.4M	20x
Nado SNDK-PERP	+0.0163%	1h	1,775.8	−0.037%	$355K	$1.4M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0456%	1h	1,776.5	0.000%	$129K	$406K	20x	as long as short