Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.003%

Price spread now: Injective against Phemex+0.800%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Injective

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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.800% dearer against Phemex than usual: you sell high and buy low: +$80 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,785.7	0	get 0.0000% / 8h	5h 52m	$2.8M	$1.1M	50x
Short	Injective SNDK/USDC PERP	1,800	0.0033	get 0.0004% / 1h	52m 22s	$36	$9K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. 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 PhemexbpFee InjectivebpOrdersPrice spread, now +0.800%Rate

Funding earned: $7
Price spread: +0.800% → 0.000%: $79.97
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $74.95
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 1 min ago; Injective: no order-book sample. 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 Phemex live order book, 1 min ago	3.75 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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	−0.0175%	1h	1,785.5	−0.008%	$51K	$332K	10x	as long as short
Phoenix SNDK	−0.0090%	1h	1,784.5	−0.066%	$278K	$193K	15x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,786.1	+0.021%	$1.6M	$15.2M	10x	as long as short
Nado SNDK-PERP	−0.0021%	1h	1,787.4	+0.098%	$359K	$1.4M	10x	as long as short
Entropy io:SNDK	−0.0007%	1h	1,785.9	+0.012%	$4.9M	$20.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.6	+0.049%	$21.8M	$37.2M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,786.1	+0.025%	$285.8M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,786.6	+0.051%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,786.6	+0.052%	$85.4M	$822.3M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,787.4	+0.097%	$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	+0.042%	$180.2M	$230.4M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,786.3	+0.032%	$43.8M	$163.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,784.7	−0.054%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,785.3	−0.020%	$11K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,786.2	+0.029%	$15K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,784.9	−0.044%	$859	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.2	−0.027%	$1.4M	$10.9M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,785.7	long leg	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0003%	1h	1,785.8	+0.006%	$664	$37K	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,786.2	+0.030%	$436K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787.4	+0.097%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,787.1	+0.078%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.5	+0.048%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERPshort	+0.0033%	1h	1,800	+0.800%	$36	$9K	12x
Arcus SNDK-USD	+0.0040%	1h	1,784.5	−0.068%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.9	+0.010%	—	$581K	10x	as long as short
tradeXYZ xyz:SNDK	+0.0047%	1h	1,786.2	+0.029%	$114.5M	$145.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,786.4	+0.040%	$246K	$644K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,786.5	+0.047%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,786	+0.018%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.5	−0.013%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.4	+0.040%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.4	+0.038%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.3	−0.020%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786.5	+0.045%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,786	+0.015%	$6.1M	$21.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,785.8	+0.009%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.5	−0.012%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0735%	4h	1,785.1	−0.034%	$567K	$352K	10x	as long as short