Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.017%

Price spread now: KuCoin against Phoenix−0.056%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 4 days (all we have)+0.394%+$39 · spread now −0.056%, 7d avg −0.034%

Together, before fees+0.548%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.022% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of −0.034%). If the spread goes back, that is −$2 on $10k: about 9 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.154% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,786.5	−0.0090	get 0.0011% / 1h	49m 17s	$278K	$193K	15x
Short	KuCoin SNDKUSDTM	1,785.5	0.0100	get 0.0100% / 8h	5h 49m	$6.1M	$21.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.056%Rate

Funding earned: $39.85
Price spread: −0.056% → −0.034%: −$2.23
Slippage, 4 orders: −$30.34
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$11.72
Costs to cover: 0.493%
Break-even: 9.1 days

Slippage from Phoenix: live order book, 11 min ago; KuCoin: live order book, 5 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, 11 min ago	3.93 bp	12.6 bp −$13	27.4 bp −$274	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.48 bp	14.5 bp −$15	45.5 bp −$455	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	−0.0097%	1h	1,785.8	−0.037%	$51K	$333K	10x	as long as short
Phoenix SNDKlong	−0.0090%	1h	1,786.5	long leg	$278K	$193K	15x
Entropy io:SNDK	−0.0044%	1h	1,786	−0.028%	$4.9M	$20.3M	10x	as long as short
Nado SNDK-PERP	−0.0037%	1h	1,787	+0.027%	$359K	$1.4M	10x	as long as short
QFEX SNDK-USD	−0.0023%	1h	1,785.8	−0.038%	$1.6M	$15.1M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,786.2	−0.014%	$21.8M	$37.5M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,785.6	−0.048%	$285.7M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,786.3	−0.013%	$32.1M	$99.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,785.7	−0.045%	$85.5M	$821.7M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,786.8	+0.015%	$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	1,785.9	−0.031%	$180.2M	$230.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,785.7	−0.045%	$43.8M	$163.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,785.5	−0.057%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,785.8	−0.039%	$21K	$1.2M	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,786	−0.028%	$15K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,785.1	−0.078%	$859	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,785.3	−0.065%	$1.4M	$10.8M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,785.6	−0.049%	$2.8M	$1.1M	50x	as long as short
Aftermath Perps SNDKUSD	+0.0004%	1h	1,786.3	−0.010%	$665	$37K	5x	as long as short
tradeXYZ xyz:SNDK	+0.0023%	1h	1,785.9	−0.034%	$114.4M	$145.6M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0024%	1h	1,786	−0.031%	$439K	$2.3M	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,787	+0.025%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,786.5	+0.001%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,786.5	+0.003%	$477K	$1.7M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+0.753%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,784.7	−0.101%	$311K	$1.6M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,785.9	−0.034%	—	$581K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,786	−0.028%	$246K	$645K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0048%	8h	1,785.9	−0.033%	—	—	5x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,785.5	−0.056%	$187K	$134K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,785.7	−0.044%	$730K	$515K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,785.9	−0.034%	$1.4M	$5.1M	5x	as long as short
Kraken Futures PF_SNDKUSD	+0.0058%	1h	1,786.3	−0.009%	$130K	$352K	20x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,785.5	−0.057%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0094%	1h	1,786.2	−0.015%	$199K	$292K	10x	as long as short
KuCoin SNDKUSDTMshort	+0.0100%	8h	1,785.5	−0.056%	$6.1M	$21.7M	20x
ApeX Omni SNDKUSDT	+0.0100%	1h	1,786.2	−0.018%	$69K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,785.2	−0.075%	$8K	$3K	20x	as long as short
edgeX SNDKUSDC	+0.0374%	4h	1,785.6	−0.048%	$567K	$352K	10x	as long as short