Funding arb · Price arb /

SNDK

RWAall SNDK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against SoDEX−0.007%7-day average +0.024% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.007%, 7d avg +0.024%

Together, before fees−0.051%−$5 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 Phemex is 0.031% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SNDK-USD	1,761.4	0.0050	pay 0.0006% / 1h	32m 43s	$720K	$520K	10x
Short	Phemex SNDKUSDT	1,761.2	0	get 0.0000% / 8h	32m 43s	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$10.5
Price spread: −0.007% → +0.024%: −$3.12
Slippage, 4 orders: −$56.79
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$90.41
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from SoDEX: live order book, 6 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 SoDEX live order book, 6 min ago	0.03 bp	7.8 bp −$8	40.9 bp −$409	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	1.82 bp	27.8 bp −$28	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
Bitget SNDKUSDT	−0.0271%	8h	1,761.7	+0.018%	$48.4M	$166.1M	75x	as long as short
BloFin SNDK-USDT	−0.0120%	8h	1,761.1	−0.015%	$3.9M	$4.6M	75x	as long as short
KuCoin SNDKUSDTM	−0.0015%	8h	1,761.3	−0.007%	$6.0M	$22.3M	20x	as long as short
Nado SNDK-PERP	−0.0012%	1h	1,762.3	+0.054%	$330K	$1.5M	10x	as long as short
Deribit SNDK_USDC-PERPETUAL	−0.0011%	1h	1,762.2	+0.045%	$51K	$353K	10x	as long as short
QFEX SNDK-USD	−0.0001%	1h	1,761.6	+0.014%	$1.4M	$10.0M	10x	as long as short
Aster SNDKUSD1	0.0000%	8h	1,762.6	+0.072%	$21.5M	$32.9M	20x	as long as short
Binance SNDKUSDT	0.0000%	8h	1,761.2	−0.011%	$279.8M	$1.86B	75x	as long as short
Bybit SNDKUSDT	0.0000%	8h	1,761.6	+0.014%	$31.7M	$103.6M	100x	as long as short
OKX SNDK-USDT-SWAP	0.0000%	8h	1,761.2	−0.010%	$82.3M	$833.7M	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	1,763.2	+0.104%	$121K	$1.6M	20x	as long as short
Gate SNDK_USDT	0.0000%	8h	1,761.3	−0.005%	$177.7M	$228.4M	75x	as long as short
Variational Omni SNDK	0.0000%	8h	1,761.1	−0.018%	$2.5M	$4.8M	—	as long as short
GRVT SNDK_USDT_Perp	0.0000%	8h	1,762.3	+0.054%	$16K	$2.1M	10x	as long as short
Phoenix SNDK	0.0000%	1h	1,762.4	+0.058%	$275K	$193K	15x	as long as short
Bullet SNDK-USD	0.0000%	1h	1,761.8	+0.024%	$14K	$290K	10x	as long as short
SunX SNDK-USDT	0.0000%	8h	1,761.4	+0.001%	$828	$3.4M	20x	as long as short
HTX SNDK-USDT	0.0000%	8h	1,761.2	−0.009%	$1.4M	$10.5M	50x	as long as short
Phemex SNDKUSDTshort	0.0000%	8h	1,761.2	−0.007%	$2.8M	$1.1M	50x
Aftermath Perps SNDKUSD	+0.0013%	1h	1,762.4	+0.056%	$673	$38K	5x	as long as short
Vest SNDK-USD-PERP	+0.0016%	1h	1,759.9	−0.082%	—	$579K	10x	as long as short
Lighter SNDK	+0.0032%	1h	1,762.6	+0.069%	$1.8M	$16.3M	20x	as long as short
Lighter RH SNDK	+0.0032%	1h	1,761.8	+0.022%	$1.2M	$9.5M	10x	as long as short
Extended SNDK_24_5-USD	+0.0032%	1h	1,761.2	−0.009%	$493K	$2.0M	10x	as long as short
Injective SNDK/USDC PERP	+0.0033%	1h	1,800	+2.191%	$36	$9K	12x	as long as short
Arcus SNDK-USD	+0.0040%	1h	1,760.8	−0.032%	$254K	$1.5M	10x	as long as short
Popdex SNDKUSDT	+0.0048%	1h	1,761.9	+0.030%	$243K	$652K	20x	as long as short
tradeXYZ xyz:SNDK	+0.0050%	1h	1,761.6	+0.013%	$119.7M	$159.7M	10x	as long as short
Entropy io:SNDK	+0.0050%	1h	1,761.7	+0.019%	$4.6M	$19.5M	10x	as long as short
Polymarket Perps SNDK-USD	+0.0050%	1h	1,760.9	−0.027%	$185K	$128K	10x	as long as short
SoDEX SNDK-USDlong	+0.0050%	1h	1,761.4	long leg	$720K	$520K	10x
Paradex SNDK-USD-PERP	+0.0050%	8h	1,762.1	+0.043%	—	—	5x	as long as short
Ondo Perps SNDK-USD.P	+0.0050%	1h	1,761.7	+0.019%	$1.4M	$5.2M	5x	as long as short
Aevo SNDK-PERP	+0.0080%	1h	1,761.5	+0.007%	$1K	—	10x	as long as short
Pacifica SNDK	+0.0100%	1h	1,761.9	+0.033%	$197K	$308K	10x	as long as short
ApeX Omni SNDKUSDT	+0.0100%	1h	1,762.1	+0.041%	$68K	$270K	50x	as long as short
Orderly PERP_SNDK_USDC_mythos	+0.0100%	8h	1,761.7	+0.019%	$8K	$3K	20x	as long as short
Coinbase International SNDK-PERP-INTX	+0.0112%	1h	1,762.4	+0.060%	$429K	$2.1M	10x	as long as short
Kraken Futures PF_SNDKUSD	+0.0274%	1h	1,762.2	+0.049%	$127K	$339K	20x	as long as short
edgeX SNDKUSDC	+0.0798%	4h	1,761.8	+0.027%	$560K	$351K	10x	as long as short