Funding arb · Price arb /

SNDK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0009%/8hpaid last 24h +0.035%

Price spread now: Variational Omni against QFEX−0.182%7-day average +0.042% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 7 days+0.185%+$18 · spread now −0.182%, 7d avg +0.042%

Together, before fees+0.223%+ Points / potential airdropVariational Omni: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.224% cheaper against QFEX than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of +0.042%). If the spread goes back, that is −$22 on $10k: about 3 months of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.038% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SNDK-USD	1,748.1	−0.0009	get 0.0001% / 1h	23m 33s	$2.2M	$22.0M	10x
Short	Variational Omni SNDK	1,744.9	0	get 0.0000% / 8h	4h 23m	$2.6M	$4.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.182%Rate

Funding earned: $1.97
Price spread: −0.182% → +0.042%: −$22.4
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.43
Costs to cover: 0.100%
Break-even: 115.4 days

Slippage unknown: QFEX: live order book, 10 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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, 10 min ago	0.88 bp	7.2 bp −$7	8.8 bp −$88	14.5 bp −$1,452	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.40 bp	doesn't fit	3.8 bp −$38	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	1,746.8	−0.077%	$4.3M	$4.3M	75x	as long as short
Phoenix SNDK	−0.0045%	1h	1,746	−0.121%	$273K	$162K	15x	as long as short
Entropy io:SNDK	−0.0023%	1h	1,747.3	−0.047%	$4.5M	$19.9M	10x	as long as short
QFEX SNDK-USDlong	−0.0009%	1h	1,748.1	long leg	$2.2M	$22.0M	10x
Aster SNDKUSD1	0.0000%	8h	1,747.4	−0.043%	$21.5M	$40.1M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,747.8	−0.016%	$284.2M	$1.83B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,748.3	+0.010%	$32.0M	$100.2M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,748.2	+0.005%	$88.7M	$799.5M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,748.2	+0.002%	$126K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,747.8	−0.016%	$189.1M	$237.8M	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	1,747.8	−0.016%	$50.3M	$164.8M	75x	as long as short
Variational Omni SNDKshort	0.0000%	8h	1,744.9	−0.182%	$2.6M	$4.7M	—
GRVT SNDK_USDT_Perp	0.0000%	8h	1,746.5	−0.094%	$11K	$826K	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,746.7	−0.079%	$14K	$293K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,745.8	−0.134%	$934	$4.0M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,745.7	−0.140%	$1.4M	$10.9M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,746.6	−0.086%	$2.8M	$809K	50x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0019%	1h	1,746.7	−0.084%	$48K	$188K	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,747.7	−0.025%	$1.8M	$15.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,747.4	−0.039%	$1.3M	$10.0M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,747.4	−0.040%	$395K	$1.7M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0032%	1h	1,746.6	−0.088%	$430K	$2.2M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.965%	$36	$19K	12x	as long as short
Aftermath Perps SNDKUSD	+0.0035%	1h	1,748.7	+0.031%	$651	$36K	5x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,747.4	−0.043%	$295K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,747	−0.067%	—	$639K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,748.4	+0.016%	$241K	$636K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,747.1	−0.060%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,747.2	−0.053%	$108.7M	$142.6M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,747.9	−0.013%	$194K	$183K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,745.9	−0.129%	$714K	$502K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,746	−0.121%	$1.4M	$4.2M	5x	as long as short
Nado SNDK-PERP	+0.0050%	1h	1,746.2	−0.109%	$350K	$1.2M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,746.5	−0.092%	$1K	—	10x	as long as short
edgeX SNDKUSDC	+0.0094%	4h	1,747.2	−0.050%	$553K	$344K	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,747.5	−0.035%	$193K	$235K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,747.3	−0.049%	$6.1M	$21.3M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,746.2	−0.112%	$67K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,746.4	−0.101%	$8K	$1K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0482%	1h	1,747	−0.066%	$129K	$380K	20x	as long as short