SNDK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.024%

Price spread now: Lighter against Phoenix−0.055%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)+0.259%+$26 · spread now −0.055%, 7d avg −0.001%

Together, before fees+0.415%+ Points / potential airdropLighter: Season 3 · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.054% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of −0.001%). If the spread goes back, that is −$5 on $10k: about 5.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.156% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,751.1	0	get 0.0000% / 1h	36m 41s	$273K	$193K	15x
Short	Lighter SNDK	1,750.1	0.0032	get 0.0004% / 1h	36m 41s	$1.7M	$16.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.055%Rate

Funding earned: $6.72
Price spread: −0.055% → −0.001%: −$5.41
Slippage, 4 orders: −$16.73
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.42
Costs to cover: 0.237%
Break-even: 30.4 days

Slippage from Phoenix: live order book, 59 min ago; Lighter: live order book, 7 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, 59 min ago	2.84 bp	11.0 bp −$11	23.2 bp −$232	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.57 bp	1.1 bp −$1	1.6 bp −$16	22.2 bp −$2,224	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
GRVT SNDK_USDT_Perp	−0.0845%	8h	1,750.4	−0.040%	$21K	$2.2M	10x	as long as short
HTX SNDK-USDT	−0.0543%	8h	1,751.1	+0.001%	$1.4M	$10.5M	50x	as long as short
Bitget SNDKUSDT	−0.0247%	8h	1,750	−0.061%	$49.3M	$166.9M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,751	−0.006%	$4.0M	$4.5M	75x	as long as short
Nado SNDK-PERP	−0.0083%	1h	1,752.2	+0.061%	$330K	$1.5M	10x	as long as short
KuCoin SNDKUSDTM	−0.0040%	8h	1,750.3	−0.046%	$6.0M	$22.5M	20x	as long as short
QFEX SNDK-USD	−0.0002%	1h	1,752.2	+0.064%	$1.4M	$9.6M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,749.9	−0.068%	$21.3M	$32.6M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,750.2	−0.050%	$279.8M	$1.85B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,750.3	−0.045%	$31.6M	$104.1M	100x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SNDK-USDT-SWAP	0.0000%	8h	1,749.2	−0.109%	$82.2M	$820.6M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,752	+0.050%	$136K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,749.8	−0.074%	$178.5M	$218.0M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,752.6	+0.087%	$2.5M	$4.8M	—	as long as short
Phoenix SNDKlong	0.0000%	1h	1,751.1	long leg	$273K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,752.1	+0.057%	$14K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,752.3	+0.069%	$918	$3.3M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,751.7	+0.033%	$50K	$360K	10x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,751	−0.007%	$2.8M	$1.1M	50x	as long as short
Vest SNDK-USD-PERP	+0.0006%	1h	1,748.9	−0.125%	—	$570K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0011%	1h	1,753.4	+0.133%	$728	$38K	5x	as long as short
Entropy io:SNDK	+0.0015%	1h	1,751	−0.006%	$4.5M	$19.4M	10x	as long as short
Lighter SNDKshort	+0.0032%	1h	1,750.1	−0.055%	$1.7M	$16.4M	20x
Lighter RH SNDK	+0.0032%	1h	1,749.9	−0.070%	$1.2M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,750.9	−0.013%	$448K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.790%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,751.3	+0.009%	$256K	$1.4M	10x	as long as short
Paradex SNDK-USD-PERP	+0.0047%	8h	1,749.6	−0.085%	—	—	5x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,752.4	+0.074%	$241K	$630K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,749.8	−0.074%	$118.5M	$158.4M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,752.3	+0.069%	$184K	$127K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,751	−0.009%	$716K	$521K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,750.1	−0.057%	$1.3M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,751.6	+0.028%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,749.9	−0.066%	$196K	$310K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,751.5	+0.022%	$67K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,751	−0.007%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,751.3	+0.011%	$425K	$2.1M	10x	as long as short
edgeX SNDKUSDC	+0.0127%	4h	1,751.2	+0.005%	$556K	$350K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0285%	1h	1,752.2	+0.062%	$128K	$344K	20x	as long as short