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Funding arb · Price arb /

SAND

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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0297%/8h= +32.5% APRpaid last 24h −0.022%
Price spread now: Hyperliquid against Aster−0.045%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on AsterShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm boardneeds both histories
Funding pays, the price is against you. Hyperliquid is 0.045% cheaper against Aster than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$9 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster SANDUSDT0.04144−0.0197get 0.0197% / 8h6h 52m$13K$17K10x
ShortHyperliquid SAND0.041420.0100get 0.0013% / 1h52m 22s$570K$449K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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

Funding earned
$62.31
Price spread: −0.045% → 0.000%
−$4.46
Slippage, 4 orders
no order book: not counted
Fee Aster: 4 bp × 2 orders
−$8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$40.84
Costs to cover
0.170%
Break-even
2.4 days
Slippage unknown: Aster: no order-book sample; Hyperliquid: live order book, 67 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster no order-book sample—————
Sell Hyperliquid live order book, 67 min ago2.04 bp46.0 bp −$46doesn't fitdoesn't fitdoesn't fit
Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SAND on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni SAND−0.0328%8h0.04118−0.620%$113K$5K—as long as short
Aster SANDUSDTlong−0.0197%8h0.04144long leg$13K$17K10x
Bybit SANDUSDT−0.0185%8h0.04142−0.037%$3.4M$3.5M75xas long as short
Binance SANDUSDT−0.0074%8h0.04143−0.018%$6.4M$12.4M75xas long as short
MEXC SAND_USDT−0.0073%8h0.04144+0.011%$11.4M$1.7M200xas long as short
Extended SAND-USD−0.0072%1h0.04142−0.045%$3K$171K10xas long as short
BloFin SAND-USDT−0.0051%8h0.04138−0.134%$321K$289K75xas long as short
Bitget SANDUSDT−0.0038%8h0.04137−0.158%$1.7M$588K10xas long as short
KuCoin SANDUSDTM−0.0034%8h0.04137−0.158%$2.5M$379K50xas long as short
Injective SAND/USDC PERP+0.0033%1h0.04129−0.351%$757$7955.5xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hyperliquid SANDshort+0.0100%1h0.04142−0.045%$570K$449K5x
OKX SAND-USDT-SWAP+0.0100%8h0.04143−0.013%$1.7M$3.2M50xas long as short
Gate SAND_USDT+0.0100%8h0.04135−0.206%$460K$615K75xas long as short
BingX SAND-USDT+0.0100%8h0.04140−0.086%—$2.4M—as long as short
Kraken Futures PF_SANDUSD+0.0433%1h0.04141−0.063%$154K$118K25xas long as short