Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Deribit against Phoenix−0.029%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.029%, 7d avg −0.014%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,759.4	0	get 0.0000% / 1h	41m 21s	$274K	$193K	15x
Short	Deribit SNDK_USDC-PERPETUAL	1,758.9	0	get 0.0000% / 1h	41m 21s	$51K	$351K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → −0.014%: −$1.45
Slippage, 4 orders: −$39.38
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$54.83
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Phoenix: live order book, 64 min ago; Deribit: 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, 64 min ago	3.96 bp	12.7 bp −$13	27.4 bp −$274	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	9.38 bp	14.6 bp −$15	17.5 bp −$175	doesn't fit	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
Bitget SNDKUSDT	−0.0309%	8h	1,759.3	−0.005%	$47.4M	$165.7M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,759.3	−0.007%	$4.0M	$4.5M	75x	as long as short
KuCoin SNDKUSDTM	−0.0010%	8h	1,759.4	+0.002%	$6.0M	$22.1M	20x	as long as short
QFEX SNDK-USD	−0.0008%	1h	1,759.3	−0.005%	$1.4M	$10.4M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,760.4	+0.055%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,759.1	−0.018%	$279.3M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,759.5	+0.004%	$31.8M	$103.5M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,759.3	−0.006%	$82.2M	$834.1M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,760.6	+0.067%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,759.1	−0.016%	$176.3M	$230.5M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SNDK	0.0000%	8h	1,758.8	−0.031%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,758.8	−0.034%	$14K	$1.9M	10x	as long as short
Phoenix SNDKlong	0.0000%	1h	1,759.4	long leg	$274K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,759.1	−0.019%	$13K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,759	−0.020%	$770	$3.5M	20x	as long as short
Deribit SNDK_USDC-PERPETUALshort	0.0000%	1h	1,758.9	−0.029%	$51K	$351K	10x
HTX SNDK-USDT	0.0000%	8h	1,758.6	−0.045%	$1.4M	$10.6M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,759.6	+0.010%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0013%	1h	1,756.9	−0.144%	—	$581K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0014%	1h	1,760.1	+0.042%	$703	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,759.8	+0.024%	$1.8M	$16.2M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,759.2	−0.010%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,759.2	−0.010%	$493K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.305%	$36	$9K	12x	as long as short
Nado SNDK-PERP	+0.0037%	1h	1,759.3	−0.004%	$328K	$1.5M	10x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,759	−0.024%	$253K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,759.2	−0.011%	$242K	$675K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,759	−0.023%	$118.4M	$158.9M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,759.7	+0.017%	$4.7M	$19.8M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,758.4	−0.057%	$184K	$131K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,759.1	−0.015%	$719K	$520K	10x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,759.3	−0.004%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,758.4	−0.057%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,758.8	−0.035%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,759.7	+0.016%	$196K	$303K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,760.1	+0.037%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,758.7	−0.039%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,759.8	+0.020%	$430K	$2.3M	10x	as long as short
edgeX SNDKUSDC	+0.0262%	4h	1,759.8	+0.023%	$559K	$353K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0401%	1h	1,759.4	−0.002%	$126K	$346K	20x	as long as short