Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Gate against Bybit+0.240%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$860.861% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.240%, 7d avg +0.051%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.189% dearer against Bybit than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SANDUSDT	0.04171	0.0100	pay 0.0100% / 8h	2h 15m	$3.3M	$3.2M	75x
Short	Gate SAND_USDT	0.04181	0.0100	get 0.0100% / 8h	2h 15m	$466K	$574K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.240%Rate

Funding earned: $0
Price spread: +0.240% → +0.051%: $18.91
Slippage, 4 orders: −$60.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$67.2
Costs to cover: 0.861%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: live order book, 6 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 Bybit live order book, 2 min ago	2.40 bp	16.5 bp −$17	42.4 bp −$424	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.39 bp	28.2 bp −$28	doesn't fit	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	−0.0137%	8h	0.04169	−0.052%	$114K	$5K	—	as long as short
Bitget SANDUSDT	−0.0039%	8h	0.04173	+0.048%	$1.7M	$545K	10x	as long as short
KuCoin SANDUSDTM	−0.0028%	8h	0.04172	+0.024%	$2.6M	$371K	50x	as long as short
Aster SANDUSDT	−0.0012%	8h	0.04172	+0.026%	$14K	$18K	10x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.007%	$757	$795	5.5x	as long as short
BloFin SAND-USDT	+0.0050%	8h	0.04174	+0.072%	$323K	$293K	75x	as long as short
Hyperliquid SAND	+0.0054%	1h	0.04169	−0.043%	$574K	$446K	5x	as long as short
Extended SAND-USD	+0.0056%	1h	0.04172	+0.034%	$3K	$194K	10x	as long as short
Binance SANDUSDT	+0.0058%	8h	0.04175	+0.091%	$6.5M	$12.3M	75x	as long as short
MEXC SAND_USDT	+0.0059%	8h	0.04174	+0.072%	$11.7M	$1.7M	200x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SANDUSDTlong	+0.0100%	8h	0.04171	long leg	$3.3M	$3.2M	75x
OKX SAND-USDT-SWAP	+0.0100%	8h	0.04175	+0.096%	$1.8M	$3.3M	50x	as long as short
Gate SAND_USDTshort	+0.0100%	8h	0.04181	+0.240%	$466K	$574K	75x
BingX SAND-USDT	+0.0100%	8h	0.04172	+0.024%	—	$2.4M	—	as long as short
Kraken Futures PF_SANDUSD	+0.0283%	1h	0.04180	+0.213%	$156K	$100K	25x	as long as short