The trade behind the numbers
SNDK funding rates, explained
Every venue prices SNDK funding on its own book and its own clock. The gap between the cheapest and the richest is the whole trade — here is where it sits today, and what is left of it after fees.
Tokenized stock
SNDK is a tokenized stock
SNDK here is a tokenized SanDisk perpetual — an on-chain contract that tracks the SanDisk share price, tradable with leverage across 12 crypto venues without a brokerage account. You hold the perp, not the real share; it pays or charges funding to stay pinned to the stock.
That funding is the catch. SanDisk's real market keeps a fixed session — closed overnight and at weekends — while the perp charges funding around the clock. Its market is closed right now, so the rate is being annualized against a shut underlying: the APR inflates into a number no one can actually earn. Read the current 8h funding, not the headline APR, whenever the market is closed.
The spread
How the SNDK spread is traded
Why the gap exists
The venues disagree, and that is the trade
A perpetual future never expires, so exchanges tether it to spot with a funding payment: a positive rate means longs pay shorts, a negative one means shorts pay longs. Every venue sets its own rate, on its own schedule, from its own order book — so the same contract can pay on one exchange and charge on another at the very same minute.
Hold both legs in equal size and the price risk cancels: whatever SNDK does, one leg gains what the other loses. What is left is the funding difference — an annualized 24.70% here, 15.84% once the round-trip fee of $1.70 per $1,000 is paid. Close before roughly 60 hours and it loses money however wide the spread looks — which is why break-even sits next to every number.
See the same maths applied across every coin on the strategy board and the markets table.
FAQ
Questions about SNDK funding
Can I trade SanDisk with leverage on-chain?
Yes — SNDK is a tokenized SanDisk perpetual listed on 12 crypto venues, so you can go long or short with leverage without a stock brokerage. It tracks the SanDisk share price but settles in crypto; you hold the perp, not the underlying share.
Why is tokenized SanDisk funding so high at night and on weekends?
SanDisk's real market is closed outside its trading session, but the perp keeps charging funding around the clock to hold its peg. When the underlying is shut the rate often spikes, and annualizing that spike produces an APR no one can actually earn — which is why we lead with the current 8h rate for stocks while the market is closed.
Which exchanges list tokenized SanDisk (SNDK)?
12 venues we track quote SNDK perpetuals, currently cheapest to long on Aster and richest to short on Hyperliquid. The table above lists the live rate on each.
What is the SNDK funding rate right now?
Aster is paying 0.0000% per 8h, while Hyperliquid charges 0.0028% per 1h. The table above lists the current rate on all 12 venues that quote SNDK perpetuals.
Which exchange has the best SNDK funding rate?
It depends on your side. A long pays least on Aster; a short earns most on Hyperliquid. Running both at once captures the gap between them without taking a directional bet on SNDK.
How is the annualized SNDK funding APR calculated?
Each venue pays funding on its own schedule — hourly, four-hourly or eight-hourly. We normalize every rate to a common period and compound it over a year, so venues on different schedules can be compared on one axis. Fees are then subtracted over the intended hold to give the net APR.
Is SNDK funding arbitrage risk-free?
No. The price risk is hedged, but fees, a rate that flips mid-hold, liquidation on one leg through margin imbalance, withdrawal delays and exchange risk all remain. Net APR and break-even tell you whether the trade survives its own costs — not whether the venues survive.
More tokenized stocks
Other tokenized stocks
Every tokenized equity we track, with the same market-hours read on its funding.
More markets
Funding rates for other coins
The widest spreads on the board right now, net of both venues' taker fees — long the first venue, short the second.
