Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Popdex against Bybit+0.009%7-day average −0.010% · 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−$21as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on Bybit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.009%, 7d avg −0.010%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SNDKUSDT	1,762.4	0	get 0.0000% / 8h	46m 10s	$31.7M	$103.7M	100x
Short	Popdex SNDKUSDT	1,762.5	0.0048	get 0.0006% / 1h	46m 10s	$243K	$653K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.009%Rate

Funding earned: $10.08
Price spread: +0.009% → −0.010%: $1.81
Slippage, 4 orders: −$4.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$10.47
Costs to cover: 0.224%
Break-even: 14.3 days

Slippage from Bybit: live order book, 3 min ago; Popdex: live order book, 58 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	0.20 bp	7.8 bp −$8	11.9 bp −$119	31.9 bp −$3,192	doesn't fit
Sell Popdex live order book, 58 min ago	0.28 bp	3.5 bp −$3	10.2 bp −$102	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
Bitget SNDKUSDT	−0.0311%	8h	1,761.8	−0.032%	$48.4M	$166.2M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,763.1	+0.041%	$4.0M	$4.6M	75x	as long as short
Nado SNDK-PERP	−0.0016%	1h	1,763.2	+0.051%	$329K	$1.5M	10x	as long as short
KuCoin SNDKUSDTM	−0.0012%	8h	1,761.3	−0.059%	$6.0M	$22.4M	20x	as long as short
QFEX SNDK-USD	−0.0001%	1h	1,762.4	+0.003%	$1.4M	$10.0M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,762.6	+0.017%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,762	−0.020%	$279.8M	$1.86B	75x	as long as short
Bybit SNDKUSDTlong	0.0000%	8h	1,762.4	long leg	$31.7M	$103.7M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,761.2	−0.065%	$82.4M	$833.7M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,763.9	+0.091%	$121K	$1.6M	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,761.8	−0.030%	$177.7M	$228.2M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,758.6	−0.215%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,759.1	−0.184%	$10K	$2.1M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,760	−0.133%	$274K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,762	−0.020%	$13K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,762.4	+0.002%	$835	$3.4M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,761.9	−0.027%	$51K	$352K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,761	−0.075%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,761.8	−0.032%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0012%	1h	1,761.5	−0.050%	$673	$38K	5x	as long as short
Vest SNDK-USD-PERP	+0.0014%	1h	1,760	−0.131%	—	$579K	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,762.8	+0.024%	$1.8M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,762	−0.022%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,761.8	−0.032%	$490K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.134%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,760.5	−0.106%	$254K	$1.5M	10x	as long as short
Popdex SNDKUSDTshort	+0.0048%	1h	1,762.5	+0.009%	$243K	$653K	20x
tradeXYZ xyz:SNDK	+0.0050%	1h	1,761.8	−0.031%	$119.1M	$159.3M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,761.7	−0.037%	$4.6M	$19.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,760.9	−0.082%	$185K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,761.6	−0.043%	$720K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,762.7	+0.021%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,762.2	−0.009%	$1.4M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,761.6	−0.045%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,762.7	+0.022%	$198K	$305K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,762.7	+0.018%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,761.9	−0.026%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,762.4	+0.004%	$429K	$2.2M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0274%	1h	1,762.3	−0.001%	$127K	$340K	20x	as long as short
edgeX SNDKUSDC	+0.0629%	4h	1,758.5	−0.217%	$559K	$351K	10x	as long as short