Funding you earn now, next payment 04:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h −0.034%
Price spread now: Kraken Futures against Bybit+0.035%7-day average +0.128% · you sell dearer than you buy
Net, funding: paid 7d − costs−$142as in the Funding arb table
Net, price: spread back to 7d avg − costs−$114as in the Price arb table
costs, in and out, $10k−$1051.048% of the position
Funding, last 7 days−0.376%−$38 on $10k
+Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.035%, 7d avg +0.128%
=Funding pays, the price is against you. Kraken Futures is 0.093% cheaper against Bybit than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.128%). If the spread goes back, that is −$9 on $10k: about 14 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.376%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.376% in total (about -19.6% 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 | Bybit SANDUSDT | 0.04122 | −0.0039 | get 0.0039% / 8h | 4h 46m | $3.4M | $3.4M | 75x |
| Short | Kraken Futures PF_SANDUSD | 0.04123 | 0.0501 | get 0.0063% / 1h | 46m 08s | $154K | $106K | 25x |
Bybit SANDUSDT
Kraken Futures PF_SANDUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- $113.41
- Price spread: +0.035% → +0.128%
- −$9.31
- Slippage, 4 orders
- −$83.84
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$0.74
- Costs to cover
- 1.048%
- Break-even
- 7.0 days
Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 11 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, 1 min ago | 2.43 bp | 14.9 bp −$15 | 37.3 bp −$373 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SAND | −0.0361% | 8h | 0.04120 | −0.043% | $112K | $4K | — | as long as short |
| Aster SANDUSDT | −0.0278% | 8h | 0.04121 | −0.026% | $13K | $16K | 10x | as long as short |
| Gate SAND_USDT | −0.0190% | 8h | 0.04123 | +0.024% | $462K | $626K | 75x | as long as short |
| BloFin SAND-USDT | −0.0173% | 8h | 0.04114 | −0.194% | $322K | $215K | 75x | as long as short |
| Extended SAND-USD | −0.0168% | 1h | 0.04119 | −0.075% | $3K | $173K | 10x | as long as short |
| Binance SANDUSDT | −0.0167% | 8h | 0.04123 | +0.024% | $6.5M | $12.2M | 75x | as long as short |
| MEXC SAND_USDT | −0.0165% | 8h | 0.04123 | +0.024% | $11.4M | $1.8M | 200x | as long as short |
| Bitget SANDUSDT | −0.0103% | 8h | 0.04118 | −0.097% | $1.7M | $549K | 10x | as long as short |
| KuCoin SANDUSDTM | −0.0094% | 8h | 0.04115 | −0.170% | $2.5M | $366K | 50x | as long as short |
| Bybit SANDUSDTlong | −0.0039% | 8h | 0.04122 | long leg | $3.4M | $3.4M | 75x |
Variational Omni SAND
Aster SANDUSDT
Gate SAND_USDT
BloFin SAND-USDT
Extended SAND-USD
Binance SANDUSDT
MEXC SAND_USDT
Bitget SANDUSDT
KuCoin SANDUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAP | +0.0020% | 8h | 0.04122 | 0.000% | $1.6M | $3.1M | 50x | as long as short |
| BingX SAND-USDT | +0.0022% | 8h | 0.04121 | −0.024% | — | $2.4M | — | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | +0.170% | $757 | $795 | 5.5x | as long as short |
| Hyperliquid SAND | +0.0100% | 1h | 0.04122 | −0.007% | $567K | $327K | 5x | as long as short |
| Kraken Futures PF_SANDUSDshort | +0.0501% | 1h | 0.04123 | +0.035% | $154K | $106K | 25x |
OKX SAND-USDT-SWAP
BingX SAND-USDT
Injective SAND/USDC PERP
Hyperliquid SAND