SNDK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.033%

Price spread now: Phoenix against Polymarket Perps+0.017%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

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

costs, in and out, $10k−$370.373% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.017%, 7d avg +0.044%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.027% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SNDK-USD	1,765.1	0.0050	pay 0.0006% / 1h	7m 05s	$185K	$132K	10x
Short	Phoenix SNDK	1,765.4	0	get 0.0000% / 1h	7m 05s	$275K	$193K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$10.5
Price spread: +0.017% → +0.044%: −$2.72
Slippage, 4 orders: −$22.25
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$50.47
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 45 min ago; Phoenix: live order book, 44 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 Polymarket Perps live order book, 45 min ago	1.96 bp	6.0 bp −$6	6.9 bp −$69	8.9 bp −$890	doesn't fit
Sell Phoenix live order book, 44 min ago	3.37 bp	11.5 bp −$12	25.0 bp −$250	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	1,765.9	+0.048%	$3.9M	$4.4M	75x	as long as short
KuCoin SNDKUSDTM	−0.0049%	8h	1,765.7	+0.033%	$6.1M	$22.1M	20x	as long as short
Entropy io:SNDK	−0.0033%	1h	1,766.1	+0.057%	$4.8M	$19.8M	10x	as long as short
QFEX SNDK-USD	−0.0019%	1h	1,765.7	+0.036%	$1.4M	$11.9M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0008%	1h	1,767	+0.108%	$429K	$2.3M	10x	as long as short
Nado SNDK-PERP	−0.0007%	1h	1,766.2	+0.064%	$340K	$1.5M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,766.8	+0.098%	$21.6M	$32.3M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,765.9	+0.046%	$280.1M	$1.82B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,767	+0.105%	$31.7M	$102.3M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,767.3	+0.125%	$81.8M	$827.8M	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	1,766.9	+0.101%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,765.5	+0.020%	$176.5M	$231.5M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,765.4	+0.016%	$44.2M	$162.8M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,766.5	+0.077%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,763.9	−0.069%	$10K	$1.6M	10x	as long as short
Phoenix SNDKshort	0.0000%	1h	1,765.4	+0.017%	$275K	$193K	15x
Bullet SNDK-USD	0.0000%	1h	1,765.2	+0.006%	$14K	$287K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,765.4	+0.017%	$964	$3.6M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,764.7	−0.023%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDT	0.0000%	8h	1,765.9	+0.044%	$2.8M	$1.1M	50x	as long as short
edgeX SNDKUSDC	+0.0008%	4h	1,764.2	−0.048%	$560K	$352K	10x	as long as short
Aftermath Perps SNDKUSD	+0.0011%	1h	1,767.5	+0.135%	$658	$38K	5x	as long as short
Vest SNDK-USD-PERP	+0.0026%	1h	1,761.6	−0.197%	—	$582K	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,766.5	+0.082%	$1.7M	$16.0M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,766	+0.048%	$1.3M	$9.6M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,764.9	−0.012%	$425K	$1.9M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.975%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,765.4	+0.014%	$263K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,766.3	+0.068%	$243K	$654K	20x	as long as short
Paradex SNDK-USD-PERP	+0.0050%	8h	1,765.4	+0.014%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,765.5	+0.023%	$116.9M	$153.0M	10x	as long as short
Polymarket Perps SNDK-USDlong	+0.0050%	1h	1,765.1	long leg	$185K	$132K	10x
SoDEX SNDK-USD	+0.0050%	1h	1,764.8	−0.018%	$721K	$514K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,765.6	+0.028%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,765.2	+0.006%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,765.6	+0.030%	$196K	$296K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,763.4	−0.099%	$68K	$271K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,764.7	−0.024%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0123%	1h	1,766.2	+0.060%	$128K	$355K	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	+0.0124%	1h	1,765.5	+0.023%	$51K	$346K	10x	as long as short