Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: BingX against Gate−0.072%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1041.037% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.072%, 7d avg −0.019%

Together, before fees+0.134%+$13 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: BingX is 0.053% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAND_USDT	0.04182	0.0100	pay 0.0100% / 8h	7h 20m	$503K	$583K	75x
Short	BingX SAND-USDT	0.04179	0.0100	get 0.0100% / 8h	7h 20m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.019%: −$5.28
Slippage, 4 orders: −$78.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$108.94
Costs to cover: 1.037%
Break-even: never at this rate

Slippage from Gate: live order book, 50 min ago; BingX: live order book, 13 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 Gate live order book, 50 min ago	3.60 bp	43.2 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	3.60 bp	18.4 bp −$18	32.8 bp −$328	158.4 bp −$15.8K	594.7 bp −$297.4K

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_SANDUSD	−0.0761%	1h	0.04187	+0.111%	$155K	$118K	25x	as long as short
Variational Omni SAND	−0.0283%	8h	0.04174	−0.184%	$114K	$5K	—	as long as short
Bybit SANDUSDT	−0.0253%	8h	0.04176	−0.143%	$3.4M	$3.4M	75x	as long as short
Hyperliquid SAND	−0.0171%	1h	0.04175	−0.158%	$576K	$454K	5x	as long as short
Aster SANDUSDT	−0.0134%	8h	0.04178	−0.101%	$14K	$17K	10x	as long as short
Bitget SANDUSDT	−0.0045%	8h	0.04179	−0.072%	$1.7M	$567K	10x	as long as short
BloFin SAND-USDT	−0.0040%	8h	0.04180	−0.048%	$319K	$292K	75x	as long as short
KuCoin SANDUSDTM	−0.0039%	8h	0.04171	−0.263%	$2.6M	$373K	50x	as long as short
Binance SANDUSDT	−0.0029%	8h	0.04178	−0.096%	$6.5M	$12.2M	75x	as long as short
MEXC SAND_USDT	−0.0026%	8h	0.04177	−0.120%	$11.6M	$1.8M	200x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAND-USD	−0.0024%	1h	0.04177	−0.120%	$3K	$174K	10x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.267%	$757	$795	5.5x	as long as short
OKX SAND-USDT-SWAP	+0.0100%	8h	0.04178	−0.096%	$1.7M	$3.2M	50x	as long as short
Gate SAND_USDTlong	+0.0100%	8h	0.04182	long leg	$503K	$583K	75x
BingX SAND-USDTshort	+0.0100%	8h	0.04179	−0.072%	—	$2.4M	—