Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Gate against Phoenix−0.117%47s7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as 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−$450.451% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.117%, 7d avg −0.017%

Together, before fees+0.234%+$23 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: Gate is 0.099% cheaper against Phoenix than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.017%. The two prices were read 47 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	1,774.5	0	get 0.0000% / 1h	46m 33s	$276K	$188K	15x
Short	Gate SNDK_USDT	1,772.4	0	get 0.0000% / 8h	5h 46m	$182.4M	$218.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → −0.017%: −$9.93
Slippage, 4 orders: −$23.07
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$55
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from Phoenix: live order book, 62 min ago; Gate: live order book, 6 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, 62 min ago	3.42 bp	12.2 bp −$12	26.0 bp −$260	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	0.45 bp	10.4 bp −$10	18.3 bp −$183	36.7 bp −$3,669	61.1 bp −$30.5K

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
Kraken Futures PF_SNDKUSD	−0.0258%	1h	1,772.7	−0.101%	$168K	$385K	20x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,774	−0.028%	$4.0M	$4.7M	75x	as long as short
Deribit SNDK_USDC-PERPETUAL	−0.0071%	1h	1,772.7	−0.103%	$19K	$429K	10x	as long as short
QFEX SNDK-USD	−0.0001%	1h	1,772.2	−0.132%	$1.4M	$9.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,773.5	−0.055%	$21.6M	$32.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,772.9	−0.092%	$283.0M	$1.87B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,772.8	−0.099%	$31.9M	$107.1M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,772.3	−0.124%	$82.4M	$841.7M	75x	as long as short
Gate SNDK_USDTshort	0.0000%	8h	1,772.4	−0.117%	$182.4M	$218.5M	75x
Bitget SNDKUSDT	0.0000%	8h	1,772.3	−0.125%	$48.1M	$172.3M	75x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNDK	0.0000%	8h	1,774.4	−0.007%	$2.7M	$4.7M	—	as long as short
Phoenix SNDKlong	0.0000%	1h	1,774.5	long leg	$276K	$188K	15x
Bullet SNDK-USD	0.0000%	1h	1,772	−0.142%	$15K	$288K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,772.9	−0.090%	$904	$3.1M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,773	−0.086%	$1.4M	$9.8M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,774	−0.029%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0019%	1h	1,774.5	−0.002%	$684	$38K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,772.6	−0.107%	$1.3M	$9.7M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,772.8	−0.097%	$395K	$2.4M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.435%	$36	$4K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,772	−0.141%	$269K	$1.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,772.3	−0.125%	—	$574K	10x	as long as short
Nado SNDK-PERP	+0.0048%	1h	1,772.1	−0.137%	$331K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,772.4	−0.118%	$244K	$702K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,772.1	−0.135%	$121.7M	$153.0M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,773.2	−0.073%	$4.5M	$19.2M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,771.4	−0.175%	$187K	$122K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,774	−0.031%	$728K	$525K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,774	−0.028%	$1.4M	$5.3M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0053%	8h	1,772.1	−0.137%	—	—	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,773.2	−0.075%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,772.5	−0.113%	$199K	$305K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,772.7	−0.104%	$6.1M	$23.0M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,775.3	+0.043%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,773.1	−0.081%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0152%	1h	1,776.1	+0.089%	$448K	$2.2M	10x	as long as short
GRVT SNDK_USDT_Perp	+0.0157%	8h	1,775	+0.029%	$17K	$2.5M	10x	as long as short
Lighter SNDK	+0.0192%	1h	1,773.2	−0.072%	$1.8M	$16.7M	20x	as long as short
edgeX SNDKUSDC	+0.0752%	4h	1,774.4	−0.003%	$564K	$339K	10x	as long as short
RISEx SNDK/USDC	+0.0898%	1h	1,773.4	−0.061%	$146K	$1.5M	20x	as long as short