Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.019%

Price spread now: Bybit against Phoenix−0.232%45s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as 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−$410.414% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 4 days (all we have)+0.611%+$61 · spread now −0.232%, 7d avg +0.006%

Together, before fees+0.717%+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.238% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.232% now, against its 7-day average of +0.006%). If the spread goes back, that is −$24 on $10k: about 18 days of funding at the current rate (+$1 a day). The two prices were read 45 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	Phoenix SNDK	1,786.8	−0.0045	get 0.0006% / 1h	38m 40s	$278K	$193K	15x
Short	Bybit SNDKUSDT	1,782.7	0	get 0.0000% / 8h	6h 38m	$32.0M	$100.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phoenix. 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 PhoenixbpFee BybitbpOrdersPrice spread, now −0.232%Rate

Funding earned: $9.39
Price spread: −0.232% → +0.006%: −$23.78
Slippage, 4 orders: −$23.43
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$55.83
Costs to cover: 0.414%
Break-even: 48.6 days

Slippage from Phoenix: live order book, 26 min ago; Bybit: live order book, 5 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 Phoenix live order book, 26 min ago	3.91 bp	12.5 bp −$13	27.3 bp −$273	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.81 bp	7.8 bp −$8	11.5 bp −$115	36.0 bp −$3,597	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
Deribit SNDK_USDC-PERPETUAL	−0.0154%	1h	1,783.5	−0.184%	$51K	$328K	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,788	+0.068%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDK	−0.0102%	1h	1,784.8	−0.112%	$4.9M	$20.3M	10x	as long as short
Phoenix SNDKlong	−0.0045%	1h	1,786.8	long leg	$278K	$193K	15x
QFEX SNDK-USD	−0.0024%	1h	1,782.5	−0.241%	$1.8M	$17.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,784	−0.157%	$21.7M	$39.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,782.1	−0.262%	$285.8M	$1.82B	75x	as long as short
Bybit SNDKUSDTshort	0.0000%	8h	1,782.7	−0.232%	$32.0M	$100.0M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,782.2	−0.257%	$85.5M	$829.2M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,782.2	−0.257%	$180.2M	$231.4M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNDKUSDT	0.0000%	8h	1,782.8	−0.226%	$45.4M	$167.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,786.9	+0.007%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,787.3	+0.029%	$15K	$1.1M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,783.4	−0.189%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,782.6	−0.236%	$856	$3.7M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,783	−0.215%	$1.5M	$10.4M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,783.2	−0.204%	$2.8M	$1.1M	50x	as long as short
Nado SNDK-PERP	+0.0002%	1h	1,784.5	−0.130%	$360K	$1.4M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0005%	1h	1,787.3	+0.027%	$671	$37K	5x	as long as short
tradeXYZ xyz:SNDK	+0.0006%	1h	1,782.4	−0.246%	$114.1M	$146.4M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,783.3	−0.195%	$1.7M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,783.7	−0.173%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,783.3	−0.194%	$470K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.737%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.5	−0.129%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,783.6	−0.180%	—	$584K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,783	−0.213%	$246K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,782.2	−0.258%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,783	−0.213%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,783.5	−0.187%	$729K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,782.4	−0.246%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,783	−0.211%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0088%	1h	1,783.4	−0.190%	$436K	$2.3M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,782.3	−0.254%	$198K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,784	−0.156%	$6.1M	$21.5M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,787.9	+0.062%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,782.6	−0.233%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0132%	1h	1,783.4	−0.191%	$130K	$364K	20x	as long as short
RISEx SNDK/USDC	+0.0257%	1h	1,783.8	−0.167%	$171K	$1.8M	20x	as long as short
edgeX SNDKUSDC	+0.0279%	4h	1,787.4	+0.031%	$568K	$351K	10x	as long as short