Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.022%

Price spread now: Phemex against RISEx−0.087%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.051%−$5 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now −0.087%, 7d avg −0.016%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.071% cheaper against RISEx than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.051% in total (about -5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx SNDK/USDC	1,790.1	0.0257	pay 0.0032% / 1h	58m 49s	$171K	$1.8M	20x
Short	Phemex SNDKUSDT	1,788.5	0	get 0.0000% / 8h	6h 58m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against RISEx. 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 RISExbpFee PhemexbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$54.06
Price spread: −0.087% → −0.016%: −$7.1
Slippage, 4 orders: −$36.64
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$115.8
Costs to cover: 0.546%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Phemex: live order book, 5 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 RISEx live order book, 5 min ago	0.47 bp	3.5 bp −$3	4.7 bp −$47	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.32 bp	28.4 bp −$28	doesn't fit	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
Entropy io:SNDK	−0.0197%	1h	1,789.2	−0.048%	$4.8M	$20.4M	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,788.9	−0.067%	$4.1M	$4.5M	75x	as long as short
tradeXYZ xyz:SNDK	−0.0047%	1h	1,788.6	−0.082%	$114.9M	$146.5M	10x	as long as short
Popdex SNDKUSDT	−0.0032%	1h	1,789.2	−0.048%	$246K	$644K	20x	as long as short
QFEX SNDK-USD	−0.0024%	1h	1,788.8	−0.071%	$1.9M	$18.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,789.5	−0.033%	$21.8M	$42.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,788.6	−0.079%	$287.0M	$1.83B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,789.2	−0.050%	$32.1M	$99.9M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,788.8	−0.071%	$86.6M	$832.0M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,788.7	−0.079%	$182.1M	$230.1M	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	1,788.7	−0.077%	$47.8M	$164.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,789.2	−0.047%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,788.9	−0.067%	$21K	$1.1M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,789.8	−0.015%	$279K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,789.2	−0.048%	$13K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,787.6	−0.140%	$593	$3.7M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,789.2	−0.051%	$51K	$328K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,789.2	−0.051%	$1.5M	$10.4M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,788.5	−0.087%	$2.8M	$1.1M	50x
Nado SNDK-PERP	+0.0005%	1h	1,790.2	+0.005%	$348K	$1.4M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0006%	1h	1,790.3	+0.012%	$746	$37K	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0010%	1h	1,788.5	−0.087%	$1.4M	$5.1M	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,789.6	−0.028%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,789.2	−0.046%	$1.3M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,789.5	−0.029%	$457K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.553%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,789	−0.058%	$306K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,789.1	−0.057%	—	$585K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,789.2	−0.047%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,788.8	−0.071%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,788.8	−0.073%	$731K	$515K	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,788.7	−0.078%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0088%	1h	1,792.4	+0.129%	$442K	$2.3M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,789.3	−0.043%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,788.9	−0.064%	$6.1M	$21.8M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,789.1	−0.054%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,788.8	−0.068%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0131%	1h	1,789.4	−0.035%	$130K	$366K	20x	as long as short
edgeX SNDKUSDC	+0.0164%	4h	1,789.4	−0.037%	$568K	$354K	10x	as long as short
RISEx SNDK/USDClong	+0.0257%	1h	1,790.1	long leg	$171K	$1.8M	20x