Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Phoenix against Phemex−0.164%73s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as 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−$670.669% of the position

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now −0.164%, 7d avg +0.004%

Together, before fees+0.211%+$21 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 0.168% cheaper against Phemex than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 73 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	Phemex SNDKUSDT	1,771.5	0	get 0.0000% / 8h	6h 07m	$2.8M	$1.1M	50x
Short	Phoenix SNDK	1,768.6	0	get 0.0000% / 1h	7m 45s	$275K	$189K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → +0.004%: −$16.77
Slippage, 4 orders: −$47.94
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$83.71
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Phoenix: live order book, 41 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, 4 min ago	2.31 bp	29.0 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 41 min ago	3.42 bp	12.2 bp −$12	26.1 bp −$261	doesn't fit	doesn't fit

SNDK on 40 exchanges

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	1,771.8	+0.015%	$4.0M	$4.7M	75x	as long as short
Nado SNDK-PERP	−0.0009%	1h	1,771.6	+0.004%	$335K	$1.5M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,772.5	+0.059%	$21.6M	$32.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,772.3	+0.044%	$282.9M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,772.4	+0.053%	$31.4M	$106.1M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,772.4	+0.051%	$82.7M	$835.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,773.3	+0.099%	$146K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,771.7	+0.009%	$181.9M	$220.1M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,771.7	+0.011%	$50.0M	$168.6M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,771.4	−0.007%	$2.7M	$4.7M	—	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SNDKshort	0.0000%	1h	1,768.6	−0.164%	$275K	$189K	15x
Bullet SNDK-USD	0.0000%	1h	1,772.3	+0.045%	$13K	$288K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,772.1	+0.032%	$638	$3.1M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,771.6	+0.004%	$36K	$392K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,771.6	+0.005%	$1.4M	$9.8M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,771.5	long leg	$2.8M	$1.1M	50x
QFEX SNDK-USD	0.0000%	1h	1,771.6	+0.007%	$1.4M	$9.5M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0016%	1h	1,769.6	−0.109%	$677	$39K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,772.5	+0.057%	$1.2M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,771	−0.027%	$396K	$2.3M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.607%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,771.1	−0.024%	$271K	$1.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,772.2	+0.041%	—	$571K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,772.1	+0.034%	$246K	$680K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,771.6	+0.006%	$120.9M	$152.3M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,770	−0.085%	$4.6M	$19.1M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,771.8	+0.017%	$187K	$130K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,769.2	−0.130%	$1.4M	$5.3M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0051%	8h	1,771.2	−0.016%	—	—	5x	as long as short
Lighter SNDK	+0.0056%	1h	1,774.1	+0.148%	$1.8M	$16.8M	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,771.8	+0.014%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,772.3	+0.048%	$199K	$305K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,771	−0.031%	$6.1M	$22.9M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,771.5	−0.003%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,771.6	+0.007%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0136%	1h	1,772.4	+0.051%	$442K	$2.1M	10x	as long as short
GRVT SNDK_USDT_Perp	+0.0137%	8h	1,772.1	+0.033%	$27K	$2.4M	10x	as long as short
SoDEX SNDK-USD	+0.0236%	1h	1,771.9	+0.021%	$727K	$523K	10x	as long as short
edgeX SNDKUSDC	+0.0286%	4h	1,771	−0.029%	$563K	$338K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0550%	1h	1,771.3	−0.009%	$160K	$382K	20x	as long as short