Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h +0.018%

Price spread now: Phemex against Phoenix−0.070%73s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as 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−$730.731% of the position

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.070%, 7d avg −0.003%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.067% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.003%). If the spread goes back, that is −$7 on $10k: about 2.5 days of funding at the current rate (+$3 a day). 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	Phoenix SNDK	1,786.5	−0.0090	get 0.0011% / 1h	47m 50s	$278K	$193K	15x
Short	Phemex SNDKUSDT	1,785.3	0	get 0.0000% / 8h	5h 47m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.070%Rate

Funding earned: $18.85
Price spread: −0.070% → −0.003%: −$6.68
Slippage, 4 orders: −$54.14
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.96
Costs to cover: 0.731%
Break-even: 29.6 days

Slippage from Phoenix: live order book, 13 min ago; Phemex: 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, 13 min ago	3.93 bp	12.6 bp −$13	27.4 bp −$274	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	3.75 bp	29.1 bp −$29	doesn't fit	doesn't fit	doesn't fit

SNDK on 39 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	−0.0153%	1h	1,785.4	−0.063%	$51K	$333K	10x	as long as short
Phoenix SNDKlong	−0.0090%	1h	1,786.5	long leg	$278K	$193K	15x
Entropy io:SNDK	−0.0059%	1h	1,785.4	−0.062%	$4.9M	$20.3M	10x	as long as short
Nado SNDK-PERP	−0.0045%	1h	1,786.2	−0.017%	$359K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,784.4	−0.118%	$1.6M	$15.1M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,785.6	−0.051%	$21.8M	$37.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,784.5	−0.112%	$285.7M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,785.5	−0.058%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,784.7	−0.101%	$85.4M	$821.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,786.3	−0.011%	$170K	$1.8M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,784.8	−0.096%	$180.1M	$230.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,785.4	−0.064%	$43.8M	$163.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,785.5	−0.057%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,785.8	−0.039%	$21K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,785.2	−0.072%	$15K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,784.6	−0.105%	$858	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,784.7	−0.099%	$1.4M	$10.8M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,785.3	−0.070%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0004%	1h	1,786.1	−0.024%	$665	$37K	5x	as long as short
tradeXYZ xyz:SNDK	+0.0010%	1h	1,784.8	−0.095%	$114.4M	$145.6M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,786	−0.031%	$439K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,786.3	−0.010%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,785.9	−0.032%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,785.8	−0.039%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.753%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.6	−0.107%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.1	−0.078%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,785.1	−0.078%	$245K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,784.7	−0.101%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,784.8	−0.095%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.5	−0.059%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,785.9	−0.034%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,785.6	−0.049%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,784.9	−0.090%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,784.9	−0.090%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785	−0.083%	$6.1M	$21.6M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,786.2	−0.018%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,784.8	−0.093%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0374%	4h	1,785.6	−0.048%	$567K	$352K	10x	as long as short