Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h −0.009%

Price spread now: Lighter against Bybit+0.051%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.051%, 7d avg −0.033%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.083% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SNDKUSDT	1,779.1	0	get 0.0000% / 8h	35m 49s	$31.8M	$105.5M	100x
Short	Lighter SNDK	1,780	0.0160	get 0.0020% / 1h	35m 49s	$1.6M	$16.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.051%Rate

Funding earned: $33.6
Price spread: +0.051% → −0.033%: $8.34
Slippage, 4 orders: −$6.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $24.37
Costs to cover: 0.176%
Break-even: 1.9 days

Slippage from Bybit: live order book, 3 min ago; Lighter: live order book, 8 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 Bybit live order book, 3 min ago	0.59 bp	7.7 bp −$8	11.1 bp −$111	35.6 bp −$3,559	doesn't fit
Sell Lighter live order book, 8 min ago	0.53 bp	0.6 bp −$1	1.0 bp −$10	18.7 bp −$1,874	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	1,779.5	+0.022%	$4.1M	$4.5M	75x	as long as short
Entropy io:SNDK	−0.0071%	1h	1,778.5	−0.032%	$4.5M	$20.5M	10x	as long as short
QFEX SNDK-USD	−0.0004%	1h	1,778.8	−0.017%	$2.2M	$21.7M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,779.6	+0.029%	$22.0M	$46.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,779.1	+0.004%	$284.6M	$1.88B	75x	as long as short
Bybit SNDKUSDTlong	0.0000%	8h	1,779.1	long leg	$31.8M	$105.5M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,779.2	+0.007%	$87.3M	$845.6M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,779	−0.004%	$184.1M	$239.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,779.2	+0.004%	$49.6M	$170.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,779.3	+0.012%	$2.6M	$4.7M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SNDK_USDT_Perp	0.0000%	8h	1,779	−0.005%	$12K	$1.1M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,778.6	−0.026%	$277K	$195K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,779	−0.004%	$15K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,778.1	−0.056%	$777	$3.9M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,779.4	+0.019%	$1.5M	$11.1M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,779.2	+0.005%	$2.8M	$1.0M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0012%	1h	1,779.4	+0.017%	$707	$37K	5x	as long as short
RISEx SNDK/USDC	+0.0018%	1h	1,780.3	+0.069%	$175K	$1.8M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,779.2	+0.004%	$1.3M	$9.9M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,778.6	−0.025%	$412K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.174%	$36	$15K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,778.8	−0.017%	$285K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,778.6	−0.026%	—	$670K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,779.1	+0.002%	$246K	$670K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,778.8	−0.015%	$113.4M	$151.7M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,779	−0.004%	$197K	$89K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,778.9	−0.009%	$727K	$538K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,778.9	−0.009%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,779.1	+0.002%	$1.4M	$4.9M	5x	as long as short
edgeX SNDKUSDC	+0.0062%	4h	1,778.7	−0.023%	$565K	$354K	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,778.8	−0.015%	$1K	—	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0096%	1h	1,778.6	−0.026%	$442K	$2.4M	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,779.2	+0.007%	$212K	$283K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,778.3	−0.046%	$6.0M	$22.2M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,779.1	+0.001%	$68K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,778.1	−0.052%	$8K	$2K	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0121%	1h	1,779.6	+0.029%	$50K	$287K	10x	as long as short
Lighter SNDKshort	+0.0160%	1h	1,780	+0.051%	$1.6M	$16.2M	20x
Nado SNDK-PERP	+0.0182%	1h	1,778.9	−0.009%	$387K	$1.4M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0455%	1h	1,779.9	+0.048%	$129K	$406K	20x	as long as short