Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.012%

Price spread now: Phemex against Coinbase International−0.041%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$890.891% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.163%−$16 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.041%, 7d avg −0.006%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.035% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SNDK-PERP-INTX	1,759.6	0.0112	pay 0.0014% / 1h	39m 39s	$429K	$2.3M	10x
Short	Phemex SNDKUSDT	1,758.8	0	get 0.0000% / 8h	1h 39m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$23.52
Price spread: −0.041% → −0.006%: −$3.48
Slippage, 4 orders: −$67.11
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$116.11
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Phemex: live order book, 4 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 Coinbase International live order book, 4 min ago	1.90 bp	8.9 bp −$9	13.0 bp −$130	36.1 bp −$3,615	doesn't fit
Sell Phemex live order book, 4 min ago	7.41 bp	36.0 bp −$36	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
Bitget SNDKUSDT	−0.0322%	8h	1,758.7	−0.048%	$47.4M	$165.7M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,759.3	−0.016%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0010%	8h	1,758.9	−0.039%	$6.0M	$22.1M	20x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,759.3	−0.015%	$1.4M	$10.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,759.6	+0.005%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,758.1	−0.080%	$279.2M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,758.7	−0.051%	$31.7M	$103.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,758.7	−0.048%	$82.2M	$833.9M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,759.2	−0.022%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,758.5	−0.059%	$176.6M	$230.6M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNDK	0.0000%	8h	1,758.6	−0.051%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,758.8	−0.043%	$14K	$1.9M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,759.4	−0.009%	$274K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,759	−0.033%	$13K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,758.6	−0.052%	$837	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,759.2	−0.020%	$51K	$351K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,758.3	−0.070%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,758.8	−0.041%	$2.8M	$1.1M	50x
Vest SNDK-USD-PERP	+0.0013%	1h	1,756.8	−0.156%	—	$581K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,759.9	+0.020%	$703	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,759.1	−0.025%	$1.8M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,758.4	−0.065%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,758.5	−0.059%	$491K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.297%	$36	$9K	12x	as long as short
Nado SNDK-PERP	+0.0035%	1h	1,759.3	−0.017%	$328K	$1.5M	10x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,758.6	−0.056%	$253K	$1.4M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,759.4	−0.009%	$242K	$675K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,758.2	−0.077%	$118.4M	$158.5M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,759	−0.031%	$4.7M	$19.7M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,758.2	−0.077%	$184K	$131K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,758.8	−0.044%	$719K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,758.2	−0.078%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,758.4	−0.065%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,758.6	−0.053%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,758.2	−0.077%	$196K	$303K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760.1	+0.028%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,758.6	−0.054%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTXlong	+0.0112%	1h	1,759.6	long leg	$429K	$2.3M	10x
edgeX SNDKUSDC	+0.0262%	4h	1,759.8	+0.015%	$559K	$353K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,759.1	−0.025%	$126K	$346K	20x	as long as short