Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: Phemex against Popdex+0.086%7-day average +0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on Popdex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.045%−$4 on $10k

Price spread, last 4 days (all we have)−0.115%−$11 · spread now +0.086%, 7d avg +0.007%

Together, before fees−0.159%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.079% dearer against Popdex than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.007%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SNDKUSDT	1,776.2	0.0048	pay 0.0006% / 1h	40m 31s	$245K	$651K	20x
Short	Phemex SNDKUSDT	1,777.7	0	get 0.0000% / 8h	3h 40m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Popdex. 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 PopdexbpFee PhemexbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$10.08
Price spread: +0.086% → +0.007%: $7.93
Slippage, 4 orders: −$35.86
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.42
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from Popdex: live order book, 14 min ago; Phemex: live order book, 3 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 Popdex live order book, 14 min ago	0.56 bp	3.8 bp −$4	6.1 bp −$61	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.47 bp	25.4 bp −$25	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	1,777	+0.047%	$4.0M	$4.4M	75x	as long as short
Entropy io:SNDK	−0.0102%	1h	1,778.8	+0.146%	$4.8M	$19.9M	10x	as long as short
KuCoin SNDKUSDTM	−0.0044%	8h	1,777.9	+0.096%	$6.1M	$22.1M	20x	as long as short
Nado SNDK-PERP	−0.0043%	1h	1,778.4	+0.123%	$346K	$1.5M	10x	as long as short
QFEX SNDK-USD	−0.0019%	1h	1,776.4	+0.011%	$1.4M	$12.2M	10x	as long as short
Coinbase International SNDK-PERP-INTX	−0.0008%	1h	1,780.2	+0.226%	$433K	$2.3M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,778.6	+0.134%	$21.7M	$33.0M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,776	−0.014%	$282.9M	$1.80B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,776.7	+0.029%	$32.4M	$101.3M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,775.7	−0.028%	$83.0M	$824.1M	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	1,777.6	+0.081%	$170K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,776.9	+0.039%	$179.2M	$229.3M	75x	as long as short
Bitget SNDKUSDT	0.0000%	8h	1,776.5	+0.015%	$43.7M	$162.2M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,777.2	+0.055%	$2.6M	$4.7M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,780.4	+0.236%	$17K	$1.5M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,782.2	+0.338%	$278K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,775.5	−0.039%	$14K	$288K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,775.9	−0.016%	$723	$3.6M	20x	as long as short
Deribit SNDK_USDC-PERPETUAL	0.0000%	1h	1,777.9	+0.097%	$51K	$346K	10x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,777.1	+0.050%	$1.4M	$10.7M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,777.7	+0.086%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0006%	1h	1,781.2	+0.281%	$663	$38K	5x	as long as short
Lighter SNDK	+0.0032%	1h	1,778	+0.099%	$1.7M	$15.6M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,777.9	+0.095%	$1.4M	$9.4M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,777.2	+0.053%	$435K	$1.9M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+1.338%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,778.7	+0.141%	$265K	$1.5M	10x	as long as short
Vest SNDK-USD-PERP	+0.0046%	1h	1,775.4	−0.047%	—	$580K	10x	as long as short
Popdex SNDKUSDTlong	+0.0048%	1h	1,776.2	long leg	$245K	$651K	20x
Paradex SNDK-USD-PERP	+0.0050%	8h	1,777.5	+0.073%	—	—	5x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,776.1	−0.006%	$117.3M	$150.9M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,776.1	−0.006%	$187K	$128K	10x	as long as short
SoDEX SNDK-USD	+0.0050%	1h	1,777.2	+0.057%	$726K	$514K	10x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,776.6	+0.023%	$1.4M	$5.1M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,777.4	+0.065%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,776.9	+0.039%	$198K	$289K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,780.5	+0.244%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,776.5	+0.019%	$8K	$3K	20x	as long as short
Kraken Futures PF_SNDKUSD	+0.0122%	1h	1,778	+0.104%	$130K	$352K	20x	as long as short
edgeX SNDKUSDC	+0.0553%	4h	1,779.1	+0.164%	$565K	$351K	10x	as long as short