SNDK Funding Rate — SanDisk tokenized stock perpetuals across 16 venues
Tokenized stock (xStock) perpetual · compared across 16 venues · net of estimated fees · updated every few minutes
SNDK represents tokenized exposure to SanDisk shares (a Backed.fi xStock) traded as a perpetual. The perp, its funding and the underlying share are three different things — read the rate with liquidity and the backtest below.
Live annualized SNDK perpetual funding across all 16 venues Perpia tracks. Right now SNDK funding is positive on 7 and negative on 2, ranging from +39.3% on Risex to -6.7% on KuCoin — a spread of 46.0%. The widest delta-neutral trade is long KuCoin / short Risex at 43.2% net APR.
SNDK funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
SNDK funding rate by venue
68 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| Risex↗ | +39.3% | 1h |
| Pacifica↗ | +10.9% | 1h |
| Sodex↗ | +5.5% | 1h |
| Hyperliquid↗ | +5.5% | 1h |
| trade.xyz↗ | +5.5% | 1h |
| Arcus↗ | +4.2% | 1h |
| Lighter↗ | +3.5% | 8h |
| Variational↗ | +0.0% | 8h |
| OKX↗ | +0.0% | 8h |
| Aster↗ | +0.0% | 8h |
| Gate.io↗ | +0.0% | 8h |
| Bybit↗ | +0.0% | 8h |
| Bitget↗ | +0.0% | 8h |
| Ostium↗ | +0.0% | 1h |
| Nado↗ | -1.6% | 24h |
| KuCoin↗ | -6.7% | 8h |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the KuCoin vs Risex page.
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SNDK funding — FAQ
Is SNDK funding positive right now?
SNDK perpetual funding is positive on 7 of 16 venues Perpia tracks and negative on 2. The highest is +39.3% on Risex; the lowest is -6.7% on KuCoin.
What is the best SNDK funding arbitrage right now?
Go long KuCoin and short Risex for about 43.2% net APR after fees — the widest delta-neutral SNDK spread Perpia currently sees.
Which exchange has the highest SNDK funding rate?
Risex, at +39.3% annualized. Funding shifts continuously, so check the live table above before trading.
How SNDK funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Related tokenized stocks
See the full list on the tokenized stocks hub.