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: Phemex against Lighter RH−0.018%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.018%, 7d avg −0.007%

Together, before fees−0.096%+ Points / potential airdropLighter RH: Points live · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SNDK	1,786.5	0.0032	pay 0.0004% / 1h	50m 26s	$1.4M	$9.4M	10x
Short	Phemex SNDKUSDT	1,786.2	0	get 0.0000% / 8h	5h 50m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$6.72
Price spread: −0.018% → −0.007%: −$1.13
Slippage, 4 orders: −$37.96
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$57.81
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; Phemex: 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 Lighter RH live order book, 3 min ago	0.03 bp	2.0 bp −$2	3.3 bp −$33	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	3.75 bp	29.1 bp −$29	doesn't fit	doesn't fit	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	−0.0142%	1h	1,785.8	−0.040%	$51K	$333K	10x	as long as short
Phoenix SNDK	−0.0090%	1h	1,786.5	+0.002%	$278K	$193K	15x	as long as short
Entropy io:SNDK	−0.0034%	1h	1,785.8	−0.038%	$4.9M	$20.3M	10x	as long as short
Nado SNDK-PERP	−0.0031%	1h	1,786.8	+0.018%	$359K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,785.8	−0.039%	$1.6M	$15.1M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,785.8	−0.038%	$21.8M	$37.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,785.6	−0.050%	$285.7M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,786.6	+0.008%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,785.8	−0.038%	$85.5M	$821.7M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,786.7	+0.014%	$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	1,785.7	−0.044%	$180.2M	$230.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,785.5	−0.057%	$43.8M	$163.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,785.5	−0.056%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,786	−0.025%	$11K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,785.7	−0.043%	$15K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,785.1	−0.079%	$859	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.4	−0.058%	$1.4M	$10.9M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,786.2	−0.018%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0004%	1h	1,785.9	−0.035%	$664	$37K	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,786.2	−0.015%	$436K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787.2	+0.043%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDKlong	+0.0032%	1h	1,786.5	long leg	$1.4M	$9.4M	10x
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.7	+0.012%	$477K	$1.7M	10x	as long as short
tradeXYZ xyz:SNDK	+0.0032%	1h	1,785.8	−0.038%	$114.5M	$145.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.755%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.7	−0.100%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.7	−0.041%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,785.6	−0.049%	$245K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,785.9	−0.034%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,785.5	−0.054%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,786	−0.029%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.4	−0.004%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.6	+0.008%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.7	−0.044%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786	−0.025%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785.6	−0.050%	$6.1M	$21.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,786.2	−0.016%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.7	−0.043%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0374%	4h	1,785.6	−0.046%	$567K	$352K	10x	as long as short