Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h +0.011%

Price spread now: Binance against Phoenix−0.043%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)+1.729%+$173 · spread now −0.043%, 7d avg +0.004%

Together, before fees+1.915%+$192 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.047% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.004%). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,786.2	−0.0090	get 0.0011% / 1h	27m 11s	$278K	$193K	15x
Short	Binance SNDKUSDT	1,785.4	0	get 0.0000% / 8h	5h 27m	$285.3M	$1.80B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.043%Rate

Funding earned: $18.85
Price spread: −0.043% → +0.004%: −$4.66
Slippage, 4 orders: −$18.59
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$21.39
Costs to cover: 0.356%
Break-even: 14.9 days

Slippage from Phoenix: live order book, 33 min ago; Binance: 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 Phoenix live order book, 33 min ago	3.93 bp	12.6 bp −$13	27.4 bp −$274	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.03 bp	5.0 bp −$5	6.0 bp −$60	14.8 bp −$1,476	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
Deribit SNDK_USDC-PERPETUAL	−0.0159%	1h	1,785.9	−0.019%	$51K	$338K	10x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,785.5	−0.039%	$4.1M	$4.4M	75x	as long as short
Phoenix SNDKlong	−0.0090%	1h	1,786.2	long leg	$278K	$193K	15x
Entropy io:SNDK	−0.0052%	1h	1,786.6	+0.022%	$4.9M	$20.3M	10x	as long as short
Nado SNDK-PERP	−0.0038%	1h	1,786.9	+0.039%	$359K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,785.2	−0.058%	$1.5M	$14.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.3	+0.006%	$21.8M	$37.2M	20x	as long as short
Binance SNDKUSDTshort	0.0000%	8h	1,785.4	−0.043%	$285.3M	$1.80B	75x
Bybit SNDKUSDT	0.0000%	8h	1,786	−0.009%	$32.1M	$99.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,785.8	−0.022%	$85.0M	$822.3M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx SNDK/USDC	0.0000%	1h	1,786.9	+0.041%	$170K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,785.8	−0.021%	$180.1M	$230.9M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,785.6	−0.035%	$43.8M	$161.5M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,787.9	+0.094%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,786.2	+0.001%	$10K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,785.7	−0.030%	$13K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,784.5	−0.094%	$894	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.4	−0.044%	$1.4M	$10.8M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,785.7	−0.029%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0004%	1h	1,787.2	+0.056%	$665	$37K	5x	as long as short
tradeXYZ xyz:SNDK	+0.0022%	1h	1,785.7	−0.028%	$114.4M	$145.7M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,785.7	−0.028%	$439K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787	+0.043%	$1.7M	$16.1M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,786.4	+0.012%	$1.4M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.3	+0.003%	$461K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.770%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,785.4	−0.044%	$312K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.5	−0.041%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,785.4	−0.045%	$246K	$646K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,785.8	−0.022%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,785.4	−0.045%	$187K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.7	−0.030%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,786.5	+0.017%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.2	−0.002%	$130K	$352K	20x	as long as short
KuCoin SNDKUSDTM	+0.0078%	8h	1,786	−0.010%	$6.1M	$21.8M	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.2	−0.055%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,785.9	−0.015%	$199K	$289K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,788.4	+0.120%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.2	−0.054%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0780%	4h	1,786.5	+0.018%	$567K	$351K	10x	as long as short