Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h −0.003%

Price spread now: Kraken Futures against Bitget+0.553%58s7-day average +0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1261.259% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.435%−$43 on $10k

Price spread, last 4 days (all we have)−0.694%−$69 · spread now +0.553%, 7d avg +0.163%

Together, before fees−1.129%−$113 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.390% dearer against Bitget than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of +0.163%. Mind the row above: over the last 7 days funding on this pair cost −0.435%, so the current rate has only just turned in your favour. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SANDUSDT	0.04149	−0.0048	get 0.0048% / 8h	5h 41m	$1.7M	$547K	10x
Short	Kraken Futures PF_SANDUSD	0.04172	0.0240	get 0.0030% / 1h	41m 24s	$155K	$103K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.553%Rate

Funding earned: $60.46
Price spread: +0.553% → +0.163%: $39.02
Slippage, 4 orders: −$103.9
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$26.42
Costs to cover: 1.259%
Break-even: 10.1 days

Slippage from Bitget: live order book, just now; Kraken Futures: live order book, 21 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 Bitget live order book, just now	2.41 bp	19.0 bp −$19	38.0 bp −$380	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	10.81 bp	30.6 bp −$31	64.9 bp −$649	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
Variational Omni SAND	−0.0353%	8h	0.04151	+0.043%	$113K	$4K	—	as long as short
Hyperliquid SAND	−0.0193%	1h	0.04153	+0.104%	$574K	$358K	5x	as long as short
Aster SANDUSDT	−0.0163%	8h	0.04166	+0.400%	$14K	$16K	10x	as long as short
Bybit SANDUSDT	−0.0120%	8h	0.04163	+0.337%	$3.4M	$3.4M	75x	as long as short
Binance SANDUSDT	−0.0056%	8h	0.04155	+0.145%	$6.4M	$11.9M	75x	as long as short
Extended SAND-USD	−0.0056%	1h	0.04155	+0.153%	$3K	$173K	10x	as long as short
MEXC SAND_USDT	−0.0056%	8h	0.04155	+0.145%	$11.6M	$1.7M	200x	as long as short
Bitget SANDUSDTlong	−0.0048%	8h	0.04149	long leg	$1.7M	$547K	10x
Gate SAND_USDT	−0.0039%	8h	0.04158	+0.217%	$458K	$617K	75x	as long as short
BloFin SAND-USDT	−0.0036%	8h	0.04169	+0.482%	$321K	$260K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SANDUSDTM	−0.0012%	8h	0.04155	+0.145%	$2.5M	$374K	50x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−0.482%	$757	$795	5.5x	as long as short
OKX SAND-USDT-SWAP	+0.0091%	8h	0.04156	+0.169%	$1.7M	$3.1M	50x	as long as short
BingX SAND-USDT	+0.0097%	8h	0.04161	+0.289%	—	$2.4M	—	as long as short
Kraken Futures PF_SANDUSDshort	+0.0240%	1h	0.04172	+0.553%	$155K	$103K	25x