Funding you earn now, next payment 05:00 UTC−0.0950%/8h= −104.0% APRpaid last 24h −0.005%
Price spread now: Kraken Futures against Binance+0.071%7-day average +0.104% · you sell dearer than you buy
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$105as in the Price arb table
costs, in and out, $10k−$1021.016% of the position
Funding, last 7 days−0.298%−$30 on $10k
+Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.071%, 7d avg +0.104%
=Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and Kraken Futures is 0.032% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.104%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.298% in total (about -15.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SANDUSDT | 0.04200 | −0.0166 | get 0.0166% / 8h | 3h 56m | $6.7M | $12.5M | 75x |
| Short | Kraken Futures PF_SANDUSD | 0.04203 | −0.1116 | pay 0.0139% / 1h | 56m 34s | $157K | $106K | 25x |
Binance SANDUSDT
Kraken Futures PF_SANDUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$199.54
- Price spread: +0.071% → +0.104%
- −$3.25
- Slippage, 4 orders
- −$81.62
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$304.41
- Costs to cover
- 1.016%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 min ago; Kraken Futures: live order book, 61 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 Binance live order book, 14 min ago | 1.20 bp | 13.8 bp −$14 | 23.1 bp −$231 | 302.7 bp −$30.3K | doesn't fit |
| Sell Kraken Futures live order book, 61 min ago | 16.93 bp | 34.5 bp −$34 | 73.3 bp −$733 | doesn't fit | doesn't fit |
SAND on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SANDUSDshort | −0.1116% | 1h | 0.04203 | +0.071% | $157K | $106K | 25x | |
| Hyperliquid SAND | −0.0614% | 1h | 0.04197 | −0.058% | $579K | $327K | 5x | as long as short |
| Variational Omni SAND | −0.0325% | 8h | 0.04196 | −0.100% | $115K | $4K | — | as long as short |
| Aster SANDUSDT | −0.0257% | 8h | 0.04206 | +0.154% | $14K | $16K | 10x | as long as short |
| BloFin SAND-USDT | −0.0186% | 8h | 0.04201 | +0.025% | $326K | $201K | 75x | as long as short |
| Extended SAND-USD | −0.0168% | 1h | 0.04199 | −0.022% | $6K | $173K | 10x | as long as short |
| Bitget SANDUSDT | −0.0167% | 8h | 0.04195 | −0.118% | $1.7M | $555K | 10x | as long as short |
| Binance SANDUSDTlong | −0.0166% | 8h | 0.04200 | long leg | $6.7M | $12.5M | 75x | |
| MEXC SAND_USDT | −0.0165% | 8h | 0.04201 | +0.025% | $11.8M | $1.8M | 200x | as long as short |
| KuCoin SANDUSDTM | −0.0081% | 8h | 0.04191 | −0.213% | $2.6M | $358K | 50x | as long as short |
Hyperliquid SAND
Variational Omni SAND
Aster SANDUSDT
BloFin SAND-USDT
Extended SAND-USD
Bitget SANDUSDT
MEXC SAND_USDT
KuCoin SANDUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAP | −0.0054% | 8h | 0.04199 | −0.023% | $1.7M | $3.3M | 50x | as long as short |
| Gate SAND_USDT | +0.0026% | 8h | 0.04203 | +0.073% | $471K | $634K | 75x | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −1.689% | $757 | $795 | 5.5x | as long as short |
| BingX SAND-USDT | +0.0043% | 8h | 0.04201 | +0.025% | — | $2.4M | — | as long as short |
| Bybit SANDUSDT | +0.0046% | 8h | 0.04202 | +0.049% | $3.5M | $3.5M | 75x | as long as short |
OKX SAND-USDT-SWAP
Gate SAND_USDT
Injective SAND/USDC PERP
BingX SAND-USDT
Bybit SANDUSDT