Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0114%/8h= −12.4% APRpaid last 24h −0.073%

Price spread now: Variational Omni against Extended+0.560%7-day average +0.003% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.237%−$24 on $10k

Price spread, last 4 days (all we have)−0.483%−$48 · spread now +0.560%, 7d avg +0.003%

Together, before fees−0.720%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.557% dearer against Extended than usual: you sell high and buy low (spread +0.560% now, against its 7-day average of +0.003%): +$56 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAND-USD	0.04168	−0.0256	get 0.0032% / 1h	41m 47s	$3K	$225K	10x
Short	Variational Omni SAND	0.04191	−0.0370	pay 0.0370% / 8h	2h 41m	$115K	$4K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.560%Rate

Funding earned: −$23.86
Price spread: +0.560% → +0.003%: $55.7
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $26.85
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 5 min ago; Variational Omni: RFQ quote, 7 min ago. Net counts fees only.

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 Extended live order book, 5 min ago	2.39 bp	12.7 bp −$13	101.1 bp −$1,011	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 7 min ago	5.95 bp	doesn't fit	22.6 bp −$226	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
Hyperliquid SAND	−0.0533%	1h	0.04167	−0.017%	$576K	$324K	5x	as long as short
Variational Omni SANDshort	−0.0370%	8h	0.04191	+0.560%	$115K	$4K	—
Aster SANDUSDT	−0.0345%	8h	0.04174	+0.156%	$14K	$16K	10x	as long as short
BloFin SAND-USDT	−0.0273%	8h	0.04165	−0.070%	$328K	$142K	75x	as long as short
Extended SAND-USDlong	−0.0256%	1h	0.04168	long leg	$3K	$225K	10x
Binance SANDUSDT	−0.0255%	8h	0.04168	+0.011%	$6.7M	$12.6M	75x	as long as short
MEXC SAND_USDT	−0.0251%	8h	0.04168	+0.002%	$11.4M	$1.9M	200x	as long as short
Bitget SANDUSDT	−0.0245%	8h	0.04166	−0.046%	$1.7M	$555K	10x	as long as short
OKX SAND-USDT-SWAP	−0.0155%	8h	0.04169	+0.026%	$1.7M	$3.1M	50x	as long as short
KuCoin SANDUSDTM	−0.0154%	8h	0.04162	−0.142%	$2.6M	$353K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SANDUSDT	−0.0037%	8h	0.04168	+0.002%	$3.5M	$3.6M	75x	as long as short
BingX SAND-USDT	−0.0026%	8h	0.04167	−0.022%	—	$2.4M	—	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−0.934%	$757	$795	5.5x	as long as short
Gate SAND_USDT	+0.0034%	8h	0.04167	−0.022%	$469K	$650K	75x	as long as short
Kraken Futures PF_SANDUSD	+0.0112%	1h	0.04177	+0.227%	$156K	$103K	25x	as long as short