Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Bybit against Lighter RH+0.005%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$160.164% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 7 days+0.007%+$1 · spread now +0.005%, 7d avg +0.034%

Together, before fees+0.076%+ Points / potential airdropLighter RH: Points live · farm board+$8 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 Bybit is 0.029% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.034%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.070%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SNDK	1,786.6	0.0032	pay 0.0004% / 1h	51m 54s	$1.4M	$9.4M	10x
Short	Bybit SNDKUSDT	1,786.7	0	get 0.0000% / 8h	5h 51m	$32.1M	$99.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter RH. 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 Lighter RHbpFee BybitbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$6.72
Price spread: +0.005% → +0.034%: −$2.93
Slippage, 4 orders: −$5.4
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.05
Costs to cover: 0.164%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Bybit: live order book, 2 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 RH live order book, 2 min ago	0.03 bp	2.0 bp −$2	3.3 bp −$33	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.03 bp	7.3 bp −$7	10.6 bp −$106	32.1 bp −$3,211	doesn't fit

SNDK on 39 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	−0.0091%	1h	1,786.1	−0.027%	$51K	$333K	10x	as long as short
Phoenix SNDK	−0.0090%	1h	1,784.5	−0.116%	$278K	$193K	15x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,786.1	−0.029%	$1.6M	$15.2M	10x	as long as short
Nado SNDK-PERP	−0.0021%	1h	1,787.4	+0.048%	$359K	$1.4M	10x	as long as short
Entropy io:SNDK	−0.0007%	1h	1,785.9	−0.038%	$4.9M	$20.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.1	−0.027%	$21.8M	$37.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,786.5	−0.006%	$285.9M	$1.80B	75x	as long as short
Bybit SNDKUSDTshort	0.0000%	8h	1,786.7	+0.005%	$32.1M	$99.6M	100x
OKX SNDK-USDT-SWAP	0.0000%	8h	1,786.8	+0.013%	$85.5M	$822.5M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,787.4	+0.047%	$170K	$1.8M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SNDK_USDT	0.0000%	8h	1,786.4	−0.012%	$180.2M	$230.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,786.2	−0.023%	$43.8M	$163.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,784.7	−0.104%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,785.3	−0.070%	$11K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,786.2	−0.021%	$15K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,785.3	−0.071%	$859	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.6	−0.056%	$1.4M	$10.9M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,785.9	−0.035%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0003%	1h	1,785.8	−0.044%	$664	$37K	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,786.2	−0.020%	$436K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787.1	+0.031%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDKlong	+0.0032%	1h	1,786.6	long leg	$1.4M	$9.4M	10x
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.5	−0.003%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.749%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.5	−0.118%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.9	−0.040%	—	$581K	10x	as long as short
tradeXYZ xyz:SNDK	+0.0046%	1h	1,786	−0.032%	$114.5M	$145.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,786.4	−0.010%	$246K	$644K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,786.5	−0.003%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,786	−0.032%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,786.1	−0.027%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.4	−0.010%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.8	+0.010%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.8	−0.044%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786.5	−0.005%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785.5	−0.060%	$6.1M	$21.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,785.8	−0.041%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.5	−0.062%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0735%	4h	1,785.1	−0.084%	$567K	$352K	10x	as long as short