Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0095%/8hnext payment +$0.12 per $10,000 · paid last 24h +0.029%

Price spread now: Polymarket Perps against Phoenix+0.137%59s7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as 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−$370.366% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 3 days (all we have)−0.178%−$18 · spread now +0.137%, 7d avg −0.044%

Together, before fees−0.188%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.181% dearer against Phoenix than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.044%. The two prices were read 59 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	1,746	−0.0045	get 0.0006% / 1h	21m 36s	$273K	$162K	15x
Short	Polymarket Perps SNDK-USD	1,748.4	0.0050	get 0.0006% / 1h	21m 36s	$194K	$183K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.137%Rate

Funding earned: $20.01
Price spread: +0.137% → −0.044%: $18.12
Slippage, 4 orders: −$21.63
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $1.5
Costs to cover: 0.366%
Break-even: 6.5 days

Slippage from Phoenix: live order book, 7 min ago; Polymarket Perps: live order book, 9 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, 7 min ago	2.86 bp	10.6 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 9 min ago	3.14 bp	8.3 bp −$8	8.9 bp −$89	10.3 bp −$1,029	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	1,747.9	+0.107%	$4.3M	$4.3M	75x	as long as short
Phoenix SNDKlong	−0.0045%	1h	1,746	long leg	$273K	$162K	15x
Entropy io:SNDK	−0.0009%	1h	1,749.9	+0.223%	$4.5M	$19.9M	10x	as long as short
QFEX SNDK-USD	−0.0009%	1h	1,753.2	+0.412%	$2.2M	$22.0M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,752.8	+0.391%	$21.6M	$40.1M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,753.5	+0.430%	$285.1M	$1.83B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,754	+0.458%	$32.1M	$100.2M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,753.8	+0.447%	$88.2M	$804.5M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,753.9	+0.452%	$127K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,752.7	+0.382%	$189.7M	$238.0M	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	1,753.5	+0.427%	$50.4M	$164.9M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,744.9	−0.061%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,748.2	+0.125%	$16K	$836K	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,748.6	+0.151%	$14K	$293K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,748.3	+0.132%	$1K	$4.0M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,748.5	+0.143%	$1.4M	$10.9M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,749.1	+0.179%	$2.8M	$812K	50x	as long as short
Lighter SNDK	+0.0032%	1h	1,753	+0.399%	$1.8M	$15.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,752.5	+0.375%	$1.3M	$10.1M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,752.5	+0.375%	$395K	$1.7M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0032%	1h	1,746.6	+0.034%	$430K	$2.2M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+3.090%	$36	$19K	12x	as long as short
Aftermath Perps SNDKUSD	+0.0036%	1h	1,748.7	+0.156%	$651	$36K	5x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,752.5	+0.371%	$296K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,747.5	+0.086%	—	$639K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,753.5	+0.430%	$241K	$636K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,752.2	+0.357%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,751.8	+0.332%	$109.7M	$143.2M	10x	as long as short
Polymarket Perps SNDK-USDshort	+0.0050%	1h	1,748.4	+0.137%	$194K	$183K	10x
SoDEX SNDK-USD	+0.0050%	1h	1,748.5	+0.145%	$715K	$502K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,752.4	+0.367%	$1.4M	$4.3M	5x	as long as short
Nado SNDK-PERP	+0.0056%	1h	1,748.3	+0.134%	$350K	$1.2M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,748.5	+0.144%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,752.7	+0.382%	$194K	$235K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,751.7	+0.329%	$6.1M	$21.4M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,746.2	+0.009%	$67K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,748.3	+0.133%	$8K	$1K	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0139%	1h	1,748.9	+0.166%	$48K	$188K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0481%	1h	1,749.2	+0.185%	$129K	$381K	20x	as long as short
edgeX SNDKUSDC	+0.0801%	4h	1,747.6	+0.093%	$553K	$344K	10x	as long as short