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: Lighter RH against Phemex+0.051%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

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

Long on Phemex Short on Lighter RH

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)+0.005%$0 · spread now +0.051%, 7d avg +0.007%

Together, before fees+0.063%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.044% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNDKUSDT	1,785.6	0	get 0.0000% / 8h	5h 50m	$2.8M	$1.1M	50x
Short	Lighter RH SNDK	1,786.5	0.0032	get 0.0004% / 1h	50m 19s	$1.4M	$9.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.051%Rate

Funding earned: $6.72
Price spread: +0.051% → +0.007%: $4.43
Slippage, 4 orders: −$37.96
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$38.8
Costs to cover: 0.500%
Break-even: 47.4 days

Slippage from Phemex: live order book, 3 min ago; Lighter RH: 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 Phemex live order book, 3 min ago	3.75 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.03 bp	0.1 bp $0	1.8 bp −$18	32.8 bp −$3,279	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	−0.0114%	1h	1,785.8	+0.015%	$51K	$333K	10x	as long as short
Phoenix SNDK	−0.0090%	1h	1,786.5	+0.053%	$278K	$193K	15x	as long as short
Entropy io:SNDK	−0.0034%	1h	1,785.8	+0.013%	$4.9M	$20.3M	10x	as long as short
Nado SNDK-PERP	−0.0031%	1h	1,786.8	+0.069%	$359K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,785.8	+0.012%	$1.6M	$15.1M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,785.9	+0.017%	$21.8M	$37.4M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,785.8	+0.011%	$285.8M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,786.2	+0.037%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,785.8	+0.013%	$85.5M	$821.8M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,786.7	+0.065%	$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	+0.010%	$180.2M	$230.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,785.6	−0.001%	$43.8M	$163.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,785.5	−0.005%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,786	+0.026%	$11K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,785.7	+0.008%	$15K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,784.9	−0.038%	$859	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.1	−0.026%	$1.4M	$10.8M	50x	as long as short
Phemex SNDKUSDTlong	0.0000%	8h	1,785.6	long leg	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0004%	1h	1,786.2	+0.036%	$665	$37K	5x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,786	+0.022%	$439K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787.2	+0.094%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDKshort	+0.0032%	1h	1,786.5	+0.051%	$1.4M	$9.4M	10x
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.7	+0.063%	$477K	$1.7M	10x	as long as short
tradeXYZ xyz:SNDK	+0.0032%	1h	1,785.8	+0.013%	$114.5M	$145.6M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.806%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.7	−0.049%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.7	+0.010%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,785.6	+0.002%	$245K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,785.9	+0.017%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,785.5	−0.003%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.6	+0.002%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.4	+0.047%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.2	+0.038%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.3	−0.017%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786	+0.026%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,785.4	−0.010%	$6.1M	$21.7M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,786.2	+0.035%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.1	−0.026%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0374%	4h	1,785.6	+0.005%	$567K	$352K	10x	as long as short