Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0045%/8hpaid last 24h +0.008%

Price spread now: Phemex against Phoenix+0.143%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

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

costs, in and out, $10k−$690.694% of the position

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.143%, 7d avg 0.000%

Together, before fees−0.228%−$23 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 Phemex is 0.143% dearer against Phoenix than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SNDK	1,746	−0.0045	get 0.0006% / 1h	22m 16s	$273K	$162K	15x
Short	Phemex SNDKUSDT	1,748.5	0	get 0.0000% / 8h	4h 22m	$2.8M	$811K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.143%Rate

Funding earned: $9.51
Price spread: +0.143% → 0.000%: $14.32
Slippage, 4 orders: −$50.42
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$45.59
Costs to cover: 0.694%
Break-even: 40.5 days

Slippage from Phoenix: live order book, 7 min ago; Phemex: live order book, 6 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, 7 min ago	2.86 bp	10.6 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	2.95 bp	15.3 bp −$15	doesn't fit	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
BloFin SNDK-USDT	−0.0120%	8h	1,747.9	+0.107%	$4.3M	$4.3M	75x	as long as short
Phoenix SNDKlong	−0.0045%	1h	1,746	long leg	$273K	$162K	15x
Entropy io:SNDK	−0.0018%	1h	1,747.8	+0.103%	$4.5M	$19.9M	10x	as long as short
QFEX SNDK-USD	−0.0009%	1h	1,748.3	+0.133%	$2.2M	$22.0M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,748.6	+0.151%	$21.6M	$40.1M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,748.7	+0.157%	$284.4M	$1.83B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,748.7	+0.156%	$32.0M	$100.2M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,748.8	+0.160%	$88.1M	$801.8M	75x	as long as short
RISEx SNDK/USDC	0.0000%	1h	1,748.9	+0.168%	$126K	$1.8M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,748.7	+0.157%	$189.2M	$237.9M	75x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNDKUSDT	0.0000%	8h	1,748.3	+0.132%	$50.3M	$164.9M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,744.9	−0.061%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,746.5	+0.027%	$11K	$826K	10x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,748.6	+0.151%	$14K	$293K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,748.3	+0.132%	$1K	$4.0M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,747.5	+0.088%	$1.4M	$10.9M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,748.5	+0.143%	$2.8M	$811K	50x
Lighter SNDK	+0.0032%	1h	1,748.3	+0.133%	$1.8M	$15.4M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,748.2	+0.124%	$1.3M	$10.1M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,748.2	+0.124%	$395K	$1.7M	10x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0032%	1h	1,746.6	+0.034%	$430K	$2.2M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+3.090%	$36	$19K	12x	as long as short
Aftermath Perps SNDKUSD	+0.0036%	1h	1,748.7	+0.156%	$651	$36K	5x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,747.7	+0.096%	$295K	$1.7M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,747.5	+0.086%	—	$639K	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,749	+0.172%	$241K	$636K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0049%	8h	1,748.2	+0.126%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,748.4	+0.137%	$109.5M	$143.2M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,748.4	+0.137%	$194K	$183K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,748.5	+0.145%	$715K	$502K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,748.4	+0.137%	$1.4M	$4.2M	5x	as long as short
Nado SNDK-PERP	+0.0056%	1h	1,748.3	+0.134%	$350K	$1.2M	10x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,748.5	+0.144%	$1K	—	10x	as long as short
edgeX SNDKUSDC	+0.0094%	4h	1,747.2	+0.071%	$553K	$344K	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,748.5	+0.142%	$193K	$235K	10x	as long as short
KuCoin SNDKUSDTM	+0.0100%	8h	1,748.2	+0.127%	$6.1M	$21.3M	20x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,746.2	+0.009%	$67K	$269K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,748.3	+0.133%	$8K	$1K	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0139%	1h	1,748.9	+0.166%	$48K	$188K	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0481%	1h	1,749.2	+0.185%	$129K	$381K	20x	as long as short