Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h −0.025%

Price spread now: Deribit against Phemex+0.005%7-day average −0.013% · 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−$75as in the Price arb table

costs, in and out, $10k−$760.765% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.058%−$6 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.005%, 7d avg −0.013%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,776.1	0	get 0.0000% / 8h	13m 15s	$2.8M	$1.0M	50x
Short	Deribit SNDK_USDC-PERPETUAL	1,776.1	0.0003	get 0.0000% / 1h	13m 15s	$50K	$305K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phemex. 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 PhemexbpFee DeribitbpOrdersPrice spread, now +0.005%Rate

Funding earned: $0.72
Price spread: +0.005% → −0.013%: $1.74
Slippage, 4 orders: −$57.46
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$74
Costs to cover: 0.765%
Break-even: 728.2 days

Slippage from Phemex: live order book, 5 min ago; Deribit: live order book, 65 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 Phemex live order book, 5 min ago	2.62 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 65 min ago	1.80 bp	18.0 bp −$18	22.3 bp −$223	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	1,775.8	−0.012%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDK	−0.0085%	1h	1,775.9	−0.008%	$4.6M	$20.4M	10x	as long as short
QFEX SNDK-USD	−0.0004%	1h	1,775.5	−0.034%	$2.2M	$21.7M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,776.4	+0.020%	$21.8M	$46.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,775.7	−0.020%	$283.4M	$1.88B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,776	−0.001%	$31.6M	$105.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,776.1	+0.003%	$86.8M	$844.8M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,775.8	−0.017%	$183.8M	$240.1M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,775.7	−0.021%	$47.8M	$171.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,777.7	+0.091%	$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	+0.104%	$12K	$1.0M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,777.6	+0.087%	$277K	$195K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,775.6	−0.025%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,774.8	−0.072%	$873	$3.9M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,775.9	−0.011%	$1.5M	$11.0M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,776.1	long leg	$2.8M	$1.0M	50x
Deribit SNDK_USDC-PERPETUALshort	+0.0003%	1h	1,776.1	+0.005%	$50K	$305K	10x
Aftermath Perps SNDKUSD	+0.0014%	1h	1,777.1	+0.056%	$671	$37K	5x	as long as short
RISEx SNDK/USDC	+0.0018%	1h	1,776.8	+0.041%	$174K	$1.8M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,776	−0.001%	$1.3M	$10.0M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,776	−0.003%	$412K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.346%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,775.1	−0.053%	$285K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,775.7	−0.020%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,775.9	−0.008%	$245K	$670K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,775.3	−0.042%	$113.1M	$151.9M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,775.1	−0.053%	$202K	$125K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,775.7	−0.018%	$726K	$538K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,775.4	−0.034%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,777	+0.053%	$1.4M	$4.9M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,775.5	−0.033%	$1K	—	10x	as long as short
edgeX SNDKUSDC	+0.0080%	4h	1,776.8	+0.044%	$564K	$356K	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0096%	1h	1,779	+0.167%	$441K	$2.4M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,775.6	−0.027%	$211K	$281K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,776.5	+0.026%	$6.0M	$22.2M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,777.6	+0.085%	$68K	$268K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,775.3	−0.043%	$8K	$2K	20x	as long as short
Lighter SNDK	+0.0120%	1h	1,776.7	+0.037%	$1.6M	$16.4M	20x	as long as short
Nado SNDK-PERP	+0.0163%	1h	1,775.8	−0.013%	$355K	$1.4M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0456%	1h	1,776.2	+0.008%	$129K	$405K	20x	as long as short