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 −0.009%

Price spread now: Phoenix against QFEX+0.181%52s7-day average +0.021% · 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—prices read too far apart to compare

costs, in and out, $10k−$390.385% of the position

Long on QFEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)−0.358%−$36 · spread now +0.181%, 7d avg +0.021%

Together, before fees−0.418%−$42 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: Phoenix is 0.160% dearer against QFEX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 52 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	QFEX SNDK-USD	1,756.2	0.0000	pay 0.0000% / 1h	54m 13s	$1.4M	$9.4M	10x
Short	Phoenix SNDK	1,759.4	0	get 0.0000% / 1h	54m 13s	$274K	$189K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against QFEX. 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 QFEXbpFee PhoenixbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$0.08
Price spread: +0.181% → +0.021%: $16
Slippage, 4 orders: −$21.54
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$22.63
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Phoenix: live order book, 37 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 QFEX live order book, 5 min ago	1.48 bp	6.5 bp −$6	7.2 bp −$72	10.9 bp −$1,091	doesn't fit
Sell Phoenix live order book, 37 min ago	4.02 bp	12.8 bp −$13	27.7 bp −$277	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
BloFin SNDK-USDT	−0.0120%	8h	1,756.6	+0.019%	$3.9M	$4.6M	75x	as long as short
Bitget SNDKUSDT	−0.0117%	8h	1,757.1	+0.048%	$49.5M	$168.4M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,757.1	+0.051%	$21.4M	$32.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,756.8	+0.032%	$278.7M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,757.5	+0.072%	$32.0M	$105.4M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,757.7	+0.084%	$81.9M	$827.6M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,757.8	+0.087%	$136K	$1.5M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,757.2	+0.053%	$181.0M	$216.3M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,759.7	+0.195%	$2.6M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,759.8	+0.202%	$18K	$2.3M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SNDKshort	0.0000%	1h	1,759.4	+0.181%	$274K	$189K	15x
Bullet SNDK-USD	0.0000%	1h	1,757.2	+0.055%	$13K	$292K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,757.4	+0.064%	$868	$3.2M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,756.7	+0.028%	$51K	$358K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,756.7	+0.024%	$1.4M	$9.9M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,757.5	+0.072%	$2.8M	$1.1M	50x	as long as short
QFEX SNDK-USDlong	0.0000%	1h	1,756.2	long leg	$1.4M	$9.4M	10x
Aftermath Perps SNDKUSD	+0.0016%	1h	1,758.2	+0.111%	$672	$39K	5x	as long as short
KuCoin SNDKUSDTM	+0.0030%	8h	1,756.1	−0.009%	$6.0M	$22.6M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,757.6	+0.079%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,757	+0.043%	$390K	$2.2M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.490%	$36	$9K	12x	as long as short
Nado SNDK-PERP	+0.0036%	1h	1,757.2	+0.057%	$335K	$1.5M	10x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,755.7	−0.028%	$269K	$1.4M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,756.9	+0.038%	—	$572K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,756.7	+0.027%	$242K	$666K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,757	+0.044%	$119.3M	$158.9M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,757.2	+0.055%	$4.5M	$19.3M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,756.3	+0.004%	$185K	$130K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,756.9	+0.039%	$718K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,756	−0.013%	$1.4M	$5.3M	5x	as long as short
Paradex SNDK-USD-PERP	+0.0052%	8h	1,756.4	+0.009%	—	—	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,758.8	+0.148%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,756.1	−0.007%	$197K	$307K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760.2	+0.228%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,756.7	+0.028%	$8K	$3K	20x	as long as short
Lighter SNDK	+0.0120%	1h	1,758.3	+0.120%	$1.7M	$16.6M	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0136%	1h	1,757.1	+0.052%	$440K	$2.1M	10x	as long as short
edgeX SNDKUSDC	+0.0203%	4h	1,758.9	+0.151%	$559K	$338K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0554%	1h	1,756.9	+0.041%	$128K	$333K	20x	as long as short