Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Deribit against Phoenix+0.033%7-day average −0.016% · 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−$45as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.033%, 7d avg −0.016%

Together, before fees−0.040%−$4 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: Deribit is 0.048% dearer against Phoenix than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,751.1	0	get 0.0000% / 1h	36m 32s	$273K	$193K	15x
Short	Deribit SNDK_USDC-PERPETUAL	1,751.7	0	get 0.0000% / 1h	36m 32s	$50K	$360K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → −0.016%: $4.81
Slippage, 4 orders: −$35.97
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$45.16
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Phoenix: live order book, 59 min ago; Deribit: live order book, 62 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, 59 min ago	2.84 bp	11.0 bp −$11	23.2 bp −$232	doesn't fit	doesn't fit
Sell Deribit live order book, 62 min ago	6.24 bp	17.6 bp −$18	20.3 bp −$203	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
GRVT SNDK_USDT_Perp	−0.0845%	8h	1,750.4	−0.040%	$21K	$2.2M	10x	as long as short
HTX SNDK-USDT	−0.0543%	8h	1,751.1	+0.001%	$1.4M	$10.5M	50x	as long as short
Bitget SNDKUSDT	−0.0246%	8h	1,749.1	−0.114%	$49.3M	$166.9M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,751	−0.006%	$4.0M	$4.5M	75x	as long as short
Nado SNDK-PERP	−0.0082%	1h	1,749.5	−0.092%	$328K	$1.5M	10x	as long as short
KuCoin SNDKUSDTM	−0.0040%	8h	1,750.3	−0.046%	$6.0M	$22.5M	20x	as long as short
QFEX SNDK-USD	−0.0002%	1h	1,749.5	−0.093%	$1.4M	$9.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,749.9	−0.068%	$21.3M	$32.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,749.9	−0.067%	$279.8M	$1.85B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,750.3	−0.047%	$31.6M	$104.1M	100x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SNDK-USDT-SWAP	0.0000%	8h	1,748.8	−0.131%	$82.2M	$820.5M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,752	+0.050%	$136K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,749.4	−0.098%	$178.4M	$218.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,752.6	+0.087%	$2.5M	$4.8M	—	as long as short
Phoenix SNDKlong	0.0000%	1h	1,751.1	long leg	$273K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,752.1	+0.057%	$14K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,752.3	+0.069%	$918	$3.3M	20x	as long as short
Deribit SNDK_USDC-PERPETUALshort	0.0000%	1h	1,751.7	+0.033%	$50K	$360K	10x
Phemex SNDKUSDT	0.0000%	8h	1,751	−0.007%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0006%	1h	1,747.2	−0.223%	—	$577K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0011%	1h	1,753.4	+0.133%	$728	$38K	5x	as long as short
Entropy io:SNDK	+0.0015%	1h	1,751	−0.006%	$4.5M	$19.4M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,750.1	−0.055%	$1.7M	$16.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,749.9	−0.070%	$1.2M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,750	−0.063%	$448K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.790%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,748.4	−0.152%	$255K	$1.5M	10x	as long as short
Paradex SNDK-USD-PERP	+0.0047%	8h	1,749.6	−0.085%	—	—	5x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,749.3	−0.103%	$240K	$630K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,749.8	−0.074%	$118.5M	$158.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,749.2	−0.109%	$184K	$127K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,751	−0.009%	$716K	$521K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,750.7	−0.023%	$1.3M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,751.6	+0.028%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,749.9	−0.066%	$196K	$310K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,751.5	+0.022%	$67K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,751	−0.007%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,751.3	+0.011%	$425K	$2.1M	10x	as long as short
edgeX SNDKUSDC	+0.0127%	4h	1,751.2	+0.005%	$556K	$350K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0285%	1h	1,752.2	+0.062%	$128K	$344K	20x	as long as short