Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Phoenix against Deribit+0.047%70s7-day average +0.014% · 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—prices read too far apart to compare

costs, in and out, $10k−$530.534% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.047%, 7d avg +0.014%

Together, before fees−0.055%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.033% dearer against Deribit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.014%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SNDK_USDC-PERPETUAL	1,759.2	0	get 0.0000% / 1h	42m 02s	$51K	$351K	10x
Short	Phoenix SNDK	1,760	0	get 0.0000% / 1h	42m 02s	$274K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. 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 DeribitbpFee PhoenixbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.014%: $3.27
Slippage, 4 orders: −$39.38
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$50.11
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Phoenix: live order book, 63 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 Deribit live order book, 2 min ago	9.38 bp	13.5 bp −$13	18.3 bp −$183	doesn't fit	doesn't fit
Sell Phoenix live order book, 63 min ago	3.96 bp	12.7 bp −$13	27.5 bp −$275	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	−0.0302%	8h	1,759.3	+0.006%	$47.4M	$165.6M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,759.5	+0.016%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0011%	8h	1,759.6	+0.023%	$6.0M	$22.1M	20x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,758.7	−0.026%	$1.4M	$10.5M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,760.6	+0.080%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,759.2	0.000%	$279.4M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,759.6	+0.024%	$31.8M	$103.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,759.6	+0.024%	$82.2M	$834.1M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,760.3	+0.065%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,759.1	−0.005%	$176.2M	$230.4M	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	1,758.8	−0.018%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,759.2	+0.003%	$14K	$1.9M	10x	as long as short
Phoenix SNDKshort	0.0000%	1h	1,760	+0.047%	$274K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,759	−0.010%	$13K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,758.9	−0.016%	$1K	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUALlong	0.0000%	1h	1,759.2	long leg	$51K	$351K	10x
HTX SNDK-USDT	0.0000%	8h	1,758.8	−0.019%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,759.5	+0.019%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0013%	1h	1,756.9	−0.131%	—	$581K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,760.3	+0.064%	$703	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,760.6	+0.084%	$1.8M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,759.9	+0.040%	$1.3M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,759.3	+0.005%	$495K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.319%	$36	$9K	12x	as long as short
Nado SNDK-PERP	+0.0037%	1h	1,759.3	+0.009%	$328K	$1.5M	10x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,759.2	0.000%	$253K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,759.3	+0.007%	$242K	$675K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,759.3	+0.007%	$118.4M	$158.9M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,759.5	+0.019%	$4.7M	$19.8M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,758	−0.067%	$184K	$131K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,759.2	−0.001%	$719K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,758.8	−0.019%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,758.4	−0.044%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,758.9	−0.018%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,758.9	−0.014%	$196K	$303K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760.1	+0.050%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,758.6	−0.030%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,759.8	+0.034%	$430K	$2.3M	10x	as long as short
edgeX SNDKUSDC	+0.0262%	4h	1,759.8	+0.036%	$559K	$353K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,759.2	+0.004%	$126K	$346K	20x	as long as short