Funding arb · Price arb /

SNDK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.003%

Price spread now: Phemex against Injective−2.135%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 2.135% cheaper against Injective than usual: you would sell low and buy high (−$214 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SNDK/USDC PERP	1,800	0.0033	pay 0.0004% / 1h	9m 18s	$36	$9K	12x
Short	Phemex SNDKUSDT	1,761.5	0	get 0.0000% / 8h	9m 18s	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. 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 InjectivebpFee PhemexbpOrdersPrice spread, now −2.135%Rate

Funding earned: −$7
Price spread: −2.135% → 0.000%: −$213.5
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$232.52
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	3.40 bp	29.8 bp −$30	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0252%	8h	1,761.7	−2.123%	$48.2M	$165.9M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,761.5	−2.136%	$3.9M	$4.6M	75x	as long as short
KuCoin SNDKUSDTM	−0.0004%	8h	1,760.8	−2.178%	$6.0M	$22.5M	20x	as long as short
Nado SNDK-PERP	−0.0002%	1h	1,762.1	−2.104%	$330K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0001%	1h	1,761.3	−2.148%	$1.4M	$9.9M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,761.9	−2.116%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,761.7	−2.126%	$280.0M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,762	−2.109%	$31.8M	$103.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,761.8	−2.120%	$82.3M	$833.4M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,762.5	−2.083%	$120K	$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	1,761.7	−2.126%	$179.2M	$229.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,760	−2.219%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,760.2	−2.206%	$22K	$2.1M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,761.6	−2.131%	$274K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,761.5	−2.139%	$14K	$289K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,761.4	−2.143%	$786	$3.4M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,761.4	−2.145%	$51K	$355K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,759.6	−2.244%	$1.4M	$10.5M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,761.5	−2.135%	$2.8M	$1.1M	50x
Vest SNDK-USD-PERP	+0.0015%	1h	1,759.3	−2.258%	—	$579K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0016%	1h	1,761.9	−2.117%	$715	$38K	5x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,762	−2.112%	$1.2M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,761.3	−2.146%	$493K	$2.0M	10x	as long as short
Injective SNDK/USDC PERPlong	+0.0033%	1h	1,800	long leg	$36	$9K	12x
Lighter SNDK	+0.0040%	1h	1,762.5	−2.081%	$1.8M	$16.4M	20x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,760.1	−2.217%	$254K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,761.6	−2.131%	$242K	$652K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,761.7	−2.126%	$119.9M	$157.5M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,761.2	−2.153%	$4.6M	$19.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,760.6	−2.187%	$185K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,761.3	−2.147%	$720K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,761.2	−2.155%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,761.1	−2.159%	$1.4M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,761.3	−2.149%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,761.7	−2.124%	$197K	$307K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760.5	−2.190%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,761.3	−2.151%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,762.4	−2.086%	$428K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0274%	1h	1,762	−2.109%	$126K	$340K	20x	as long as short
edgeX SNDKUSDC	+0.0581%	4h	1,760	−2.223%	$559K	$350K	10x	as long as short