Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.017%

Price spread now: Bybit against Entropy+0.040%52s7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.366% of the position

Long on Entropy Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.040%, 7d avg +0.078%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.037% cheaper against Entropy than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.078%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.078%, so the current rate has only just turned against you. The two prices were read 52 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	Entropy io:SNDK	1,789.6	0.0050	pay 0.0006% / 1h	0m 53s	$4.8M	$20.4M	10x
Short	Bybit SNDKUSDT	1,790.3	0	get 0.0000% / 8h	7h 00m	$32.1M	$99.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Entropy. 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 EntropybpFee BybitbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$10.5
Price spread: +0.040% → +0.078%: −$3.74
Slippage, 4 orders: −$7.64
Fee Entropy: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$50.88
Costs to cover: 0.366%
Break-even: never at this rate

Slippage from Entropy: live order book, 6 min ago; Bybit: live order book, 3 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 Entropy live order book, 6 min ago	0.28 bp	10.0 bp −$10	14.0 bp −$140	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.64 bp	8.0 bp −$8	11.7 bp −$117	32.0 bp −$3,204	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
Deribit SNDK_USDC-PERPETUAL	−0.0186%	1h	1,789.1	−0.026%	$51K	$328K	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,789.1	−0.026%	$4.1M	$4.5M	75x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,789.7	+0.007%	$21.8M	$42.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,789.3	−0.016%	$287.1M	$1.83B	75x	as long as short
Bybit SNDKUSDTshort	0.0000%	8h	1,790.3	+0.040%	$32.1M	$99.9M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,789.8	+0.011%	$86.7M	$832.5M	75x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,789.5	−0.006%	$182.3M	$236.0M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,788.9	−0.037%	$47.8M	$164.3M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,789.2	−0.021%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,791.4	+0.098%	$21K	$1.1M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SNDK	0.0000%	1h	1,790.9	+0.073%	$279K	$195K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,789.6	0.000%	$13K	$291K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,788.1	−0.084%	$926	$3.7M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,788.6	−0.054%	$1.5M	$10.4M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,789.5	−0.007%	$2.8M	$1.1M	50x	as long as short
QFEX SNDK-USD	+0.0001%	1h	1,789	−0.034%	$1.9M	$18.5M	10x	as long as short
RISEx SNDK/USDC	+0.0004%	1h	1,790.2	+0.032%	$171K	$1.8M	20x	as long as short
Nado SNDK-PERP	+0.0005%	1h	1,791.1	+0.082%	$348K	$1.4M	10x	as long as short
Aftermath Perps SNDKUSD	+0.0006%	1h	1,790.6	+0.054%	$714	$37K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,790.8	+0.069%	$1.7M	$16.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,790.3	+0.041%	$1.4M	$9.7M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,789.5	−0.005%	$460K	$1.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.579%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,789.4	−0.009%	$306K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,789.3	−0.017%	—	$585K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,789.6	0.000%	$246K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,790.4	+0.042%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,788.9	−0.039%	$114.9M	$146.5M	10x	as long as short
Entropy io:SNDKlong	+0.0050%	1h	1,789.6	long leg	$4.8M	$20.4M	10x
Polymarket Perps SNDK-USD	+0.0050%	1h	1,789.4	−0.011%	$187K	$135K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,789.6	−0.003%	$732K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,788.9	−0.039%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,789	−0.036%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,790	+0.025%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,789.3	−0.019%	$6.1M	$21.8M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,789.1	−0.028%	$69K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,788.9	−0.039%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0128%	1h	1,792.4	+0.155%	$442K	$2.3M	10x	as long as short
edgeX SNDKUSDC	+0.0164%	4h	1,789.4	−0.011%	$568K	$354K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0660%	1h	1,790.1	+0.030%	$130K	$366K	20x	as long as short