Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h −0.025%
Price spread now: Phoenix against Lighter−0.060%74s7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as 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−$230.232% of the position
Funding, last 7 days−0.157%−$16 on $10k
+Price spread, last 4 days (all we have)−0.259%−$26 · spread now −0.060%, 7d avg +0.002%
=Together, before fees−0.416%+ Points / potential airdropLighter: Season 3 · farm board−$42 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.062% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.002%). Swap the legs. The two prices were read 74 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 | Lighter SNDK | 1,762.7 | 0.0040 | pay 0.0005% / 1h | 9m 53s | $1.8M | $16.4M | 20x |
| Short | Phoenix SNDK | 1,761.6 | 0 | get 0.0000% / 1h | 9m 53s | $274K | $193K | 15x |
Lighter SNDK
Phoenix SNDKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.4
- Price spread: −0.060% → +0.002%
- −$6.19
- Slippage, 4 orders
- −$16.19
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$37.78
- Costs to cover
- 0.232%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Phoenix: live order book, 26 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 Lighter live order book, 4 min ago | 0.45 bp | 0.6 bp −$1 | 1.1 bp −$11 | 6.6 bp −$659 | doesn't fit |
| Sell Phoenix live order book, 26 min ago | 2.84 bp | 11.1 bp −$11 | 23.2 bp −$232 | 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 | −0.0254% | 8h | 1,762 | −0.036% | $48.3M | $165.9M | 75x | as long as short |
| BloFin SNDK-USDT | −0.0120% | 8h | 1,760.2 | −0.138% | $3.9M | $4.6M | 75x | as long as short |
| KuCoin SNDKUSDTM | −0.0003% | 8h | 1,761.1 | −0.090% | $6.0M | $22.5M | 20x | as long as short |
| Nado SNDK-PERP | −0.0002% | 1h | 1,761.1 | −0.087% | $330K | $1.5M | 10x | as long as short |
| QFEX SNDK-USD | −0.0001% | 1h | 1,761.2 | −0.085% | $1.4M | $9.9M | 10x | as long as short |
| Aster SNDKUSD1 | 0.0000% | 8h | 1,762.1 | −0.032% | $21.5M | $32.9M | 20x | as long as short |
| Binance SNDKUSDT | 0.0000% | 8h | 1,761.7 | −0.052% | $280.0M | $1.86B | 75x | as long as short |
| Bybit SNDKUSDT | 0.0000% | 8h | 1,762 | −0.035% | $31.8M | $103.6M | 100x | as long as short |
| OKX SNDK-USDT-SWAP | 0.0000% | 8h | 1,762 | −0.037% | $82.3M | $833.7M | 75x | as long as short |
| RISEx SNDK/USDC | 0.0000% | 1h | 1,762.2 | −0.025% | $120K | $1.6M | 20x | as long as short |
Bitget SNDKUSDT
BloFin SNDK-USDT
KuCoin SNDKUSDTM
Nado SNDK-PERP
QFEX SNDK-USD
Aster SNDKUSD1
Binance SNDKUSDT
Bybit SNDKUSDT
OKX SNDK-USDT-SWAP
RISEx SNDK/USDCShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SNDK_USDT | 0.0000% | 8h | 1,761.9 | −0.044% | $179.2M | $229.5M | 75x | as long as short |
| Variational Omni SNDK | 0.0000% | 8h | 1,760 | −0.149% | $2.5M | $4.8M | — | as long as short |
| GRVT SNDK_USDT_Perp | 0.0000% | 8h | 1,761.7 | −0.054% | $18K | $2.1M | 10x | as long as short |
| Phoenix SNDKshort | 0.0000% | 1h | 1,761.6 | −0.060% | $274K | $193K | 15x | |
| Bullet SNDK-USD | 0.0000% | 1h | 1,761.8 | −0.047% | $14K | $289K | 10x | as long as short |
| SunX SNDK-USDT | 0.0000% | 8h | 1,760.9 | −0.099% | $733 | $3.4M | 20x | as long as short |
| Deribit SNDK_USDC-PERPETUAL | 0.0000% | 1h | 1,761.7 | −0.054% | $51K | $355K | 10x | as long as short |
| HTX SNDK-USDT | 0.0000% | 8h | 1,759.6 | −0.175% | $1.4M | $10.5M | 50x | as long as short |
| Phemex SNDKUSDT | 0.0000% | 8h | 1,761.9 | −0.043% | $2.8M | $1.1M | 50x | as long as short |
| Vest SNDK-USD-PERP | +0.0015% | 1h | 1,759.3 | −0.192% | — | $579K | 10x | as long as short |
| Aftermath Perps SNDKUSD | +0.0016% | 1h | 1,761.7 | −0.053% | $715 | $38K | 5x | as long as short |
| Lighter RH SNDK | +0.0032% | 1h | 1,762.1 | −0.032% | $1.2M | $9.5M | 10x | as long as short |
| Extended SNDK_24_5-USD | +0.0032% | 1h | 1,761.3 | −0.075% | $493K | $2.0M | 10x | as long as short |
| Injective SNDK/USDC PERP | +0.0033% | 1h | 1,800 | +2.116% | $36 | $9K | 12x | as long as short |
| Lighter SNDKlong | +0.0040% | 1h | 1,762.7 | long leg | $1.8M | $16.4M | 20x | |
| Arcus SNDK-USD | +0.0040% | 1h | 1,759.8 | −0.160% | $254K | $1.5M | 10x | as long as short |
| Popdex SNDKUSDT | +0.0048% | 1h | 1,761.6 | −0.060% | $242K | $652K | 20x | as long as short |
| tradeXYZ xyz:SNDK | +0.0050% | 1h | 1,761.8 | −0.049% | $119.9M | $157.5M | 10x | as long as short |
| Entropy io:SNDK | +0.0050% | 1h | 1,760.5 | −0.123% | $4.6M | $19.6M | 10x | as long as short |
| Polymarket Perps SNDK-USD | +0.0050% | 1h | 1,760.8 | −0.106% | $185K | $128K | 10x | as long as short |
| SoDEX SNDK-USD | +0.0050% | 1h | 1,760.8 | −0.107% | $720K | $520K | 10x | as long as short |
| Paradex SNDK-USD-PERP | +0.0050% | 8h | 1,760.7 | −0.114% | — | — | 5x | as long as short |
| Ondo Perps SNDK-USD.P | +0.0050% | 1h | 1,762 | −0.037% | $1.4M | $5.2M | 5x | as long as short |
| Aevo SNDK-PERP | +0.0080% | 1h | 1,761.4 | −0.072% | $1K | — | 10x | as long as short |
| Pacifica SNDK | +0.0100% | 1h | 1,760.8 | −0.106% | $197K | $307K | 10x | as long as short |
| ApeX Omni SNDKUSDT | +0.0100% | 1h | 1,761.9 | −0.044% | $68K | $270K | 50x | as long as short |
| Orderly PERP_SNDK_USDC_mythos | +0.0100% | 8h | 1,761.3 | −0.078% | $8K | $3K | 20x | as long as short |
| Coinbase International SNDK-PERP-INTX | +0.0112% | 1h | 1,762.4 | −0.014% | $428K | $2.1M | 10x | as long as short |
| Kraken Futures PF_SNDKUSD | +0.0274% | 1h | 1,762.1 | −0.033% | $126K | $340K | 20x | as long as short |
| edgeX SNDKUSDC | +0.0857% | 4h | 1,761.3 | −0.077% | $560K | $352K | 10x | as long as short |
Gate SNDK_USDT
Variational Omni SNDK
GRVT SNDK_USDT_Perp
Bullet SNDK-USD
SunX SNDK-USDT
Deribit SNDK_USDC-PERPETUAL
HTX SNDK-USDT
Phemex SNDKUSDT
Vest SNDK-USD-PERP
Aftermath Perps SNDKUSD
Lighter RH SNDK
Extended SNDK_24_5-USD
Injective SNDK/USDC PERP
Arcus SNDK-USD
Popdex SNDKUSDT
tradeXYZ xyz:SNDK
Entropy io:SNDK
Polymarket Perps SNDK-USD
SoDEX SNDK-USD
Paradex SNDK-USD-PERP
Ondo Perps SNDK-USD.P
Aevo SNDK-PERP
Pacifica SNDK
ApeX Omni SNDKUSDT
Orderly PERP_SNDK_USDC_mythos
Coinbase International SNDK-PERP-INTX
Kraken Futures PF_SNDKUSD
edgeX SNDKUSDC