SNDK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.031%

Price spread now: Phoenix against Lighter+0.049%104s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

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

costs, in and out, $10k−$220.225% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 3 days (all we have)−0.118%−$12 · spread now +0.049%, 7d avg +0.002%

Together, before fees−0.279%+ Points / potential airdropLighter: Season 3 · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.047% dearer against Lighter than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of +0.002%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.9 days. At the pace of the last 7 days (−0.161% in total) that is about 2.0 days. The two prices were read 104 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	Lighter SNDK	1,791.3	0.0032	pay 0.0004% / 1h	21m 45s	$1.7M	$16.3M	20x
Short	Phoenix SNDK	1,792.2	0	get 0.0000% / 1h	21m 45s	$279K	$195K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$6.72
Price spread: +0.049% → +0.002%: $4.67
Slippage, 4 orders: −$15.47
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$24.52
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Phoenix: live order book, 48 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, 7 min ago	0.75 bp	0.8 bp −$1	1.7 bp −$17	33.9 bp −$3,388	doesn't fit
Sell Phoenix live order book, 48 min ago	2.82 bp	10.2 bp −$10	21.2 bp −$212	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	1,790.7	−0.038%	$4.1M	$4.5M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,789.9	−0.078%	$21.8M	$43.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,790.3	−0.057%	$286.3M	$1.84B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,790.9	−0.022%	$32.1M	$100.2M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,790.6	−0.041%	$87.0M	$834.7M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,789.8	−0.087%	$182.2M	$235.3M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,790.2	−0.066%	$48.0M	$168.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,792.4	+0.057%	$2.6M	$4.6M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,791.5	+0.008%	$22K	$1.1M	10x	as long as short
Phoenix SNDKshort	0.0000%	1h	1,792.2	+0.049%	$279K	$195K	15x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SNDK-USD	0.0000%	1h	1,790.9	−0.025%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,789.5	−0.103%	$846	$3.8M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,790.6	−0.041%	$50K	$314K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,790.2	−0.064%	$1.5M	$10.9M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,790.5	−0.047%	$2.8M	$1.1M	50x	as long as short
QFEX SNDK-USD	+0.0001%	1h	1,791.1	−0.012%	$2.0M	$19.7M	10x	as long as short
RISEx SNDK/USDC	+0.0004%	1h	1,792.3	+0.054%	$171K	$1.8M	20x	as long as short
Nado SNDK-PERP	+0.0006%	1h	1,791.9	+0.033%	$347K	$1.4M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0008%	1h	1,790.4	−0.053%	$684	$37K	5x	as long as short
Lighter SNDKlong	+0.0032%	1h	1,791.3	long leg	$1.7M	$16.3M	20x
Lighter RH SNDK	+0.0032%	1h	1,790.7	−0.038%	$1.4M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,790	−0.076%	$444K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.482%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,789.6	−0.095%	$305K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,790.4	−0.051%	—	$585K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,791.1	−0.013%	$246K	$652K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,790.2	−0.061%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,790.3	−0.057%	$115.0M	$147.3M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,789.5	−0.102%	$4.8M	$20.2M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,790.4	−0.052%	$187K	$135K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,789.9	−0.080%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,790.1	−0.067%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,790.1	−0.069%	$199K	$291K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,789.4	−0.108%	$6.1M	$22.0M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,793.8	+0.140%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,789.5	−0.104%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0103%	4h	1,791.4	+0.006%	$569K	$353K	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0128%	1h	1,790	−0.074%	$441K	$2.3M	10x	as long as short
SoDEX SNDK-USD	+0.0182%	1h	1,790.4	−0.055%	$732K	$515K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0659%	1h	1,791.1	−0.014%	$130K	$379K	20x	as long as short