Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Phemex+0.018%7-day average −0.024% · 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−$58as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.018%, 7d avg −0.024%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SoDEX is 0.042% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,773.6	0	get 0.0000% / 8h	3h 37m	$2.8M	$1.1M	50x
Short	SoDEX SNDK-USD	1,773.9	0.0050	get 0.0006% / 1h	37m 55s	$725K	$514K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.018%Rate

Funding earned: $10.5
Price spread: +0.018% → −0.024%: $4.19
Slippage, 4 orders: −$42.21
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$47.53
Costs to cover: 0.622%
Break-even: 38.7 days

Slippage from Phemex: live order book, 6 min ago; SoDEX: live order book, 16 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, 6 min ago	2.47 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 16 min ago	0.03 bp	7.8 bp −$8	38.0 bp −$380	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	1,773.6	−0.003%	$4.0M	$4.4M	75x	as long as short
Entropy io:SNDK	−0.0101%	1h	1,775.5	+0.107%	$4.8M	$19.8M	10x	as long as short
KuCoin SNDKUSDTM	−0.0046%	8h	1,773.5	−0.005%	$6.1M	$22.1M	20x	as long as short
Nado SNDK-PERP	−0.0045%	1h	1,774.5	+0.050%	$345K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0019%	1h	1,773	−0.036%	$1.4M	$12.2M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0008%	1h	1,775.7	+0.115%	$432K	$2.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,773.8	+0.011%	$21.6M	$32.7M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,773.2	−0.025%	$282.5M	$1.81B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,773.3	−0.016%	$32.1M	$101.7M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,773.2	−0.023%	$82.6M	$824.3M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx SNDK/USDC	0.0000%	1h	1,774.2	+0.032%	$169K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,772.9	−0.041%	$178.2M	$229.6M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,773.2	−0.023%	$43.7M	$162.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,777.2	+0.201%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,777.2	+0.200%	$14K	$1.5M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,778.2	+0.259%	$277K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,774.1	+0.027%	$13K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,772	−0.093%	$822	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,773.9	+0.018%	$51K	$346K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,772.6	−0.057%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,773.6	long leg	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0006%	1h	1,778.4	+0.268%	$662	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,774.5	+0.047%	$1.7M	$15.7M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,774.1	+0.030%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,773	−0.037%	$435K	$1.9M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.486%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,775.8	+0.123%	$265K	$1.5M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,771.7	−0.110%	—	$580K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,773.6	−0.001%	$244K	$651K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,772.8	−0.046%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,773.2	−0.023%	$117.0M	$151.2M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,773.2	−0.023%	$186K	$128K	10x	as long as short
SoDEX SNDK-USDshort	+0.0050%	1h	1,773.9	+0.018%	$725K	$514K	10x
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,774	+0.022%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,773.6	−0.003%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,773.1	−0.029%	$197K	$288K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,780.5	+0.390%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,773.5	−0.008%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0122%	1h	1,774	+0.023%	$129K	$352K	20x	as long as short
edgeX SNDKUSDC	+0.0813%	4h	1,778.6	+0.280%	$565K	$351K	10x	as long as short