Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0350%/8h= −38.3% APRpaid last 24h +0.024%

Price spread now: Aster against Hyperliquid+0.110%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.110% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAND	0.04130	0.0100	pay 0.0013% / 1h	58m 19s	$571K	$325K	5x
Short	Aster SANDUSDT	0.04135	−0.0250	pay 0.0250% / 8h	4h 58m	$13K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$73.47
Price spread: +0.110% → 0.000%: $11.01
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$79.46
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 41 min ago; Aster: no order-book sample. 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 Hyperliquid live order book, 41 min ago	3.13 bp	25.5 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0369%	8h	0.04137	+0.163%	$113K	$4K	—	as long as short
Aster SANDUSDTshort	−0.0250%	8h	0.04135	+0.110%	$13K	$16K	10x
Gate SAND_USDT	−0.0209%	8h	0.04135	+0.111%	$462K	$620K	75x	as long as short
BloFin SAND-USDT	−0.0162%	8h	0.04132	+0.039%	$321K	$216K	75x	as long as short
Binance SANDUSDT	−0.0139%	8h	0.04125	−0.131%	$6.4M	$12.0M	75x	as long as short
Extended SAND-USD	−0.0136%	1h	0.04126	−0.100%	$3K	$173K	10x	as long as short
MEXC SAND_USDT	−0.0135%	8h	0.04133	+0.063%	$11.4M	$1.7M	200x	as long as short
Bitget SANDUSDT	−0.0097%	8h	0.04122	−0.203%	$1.7M	$550K	10x	as long as short
KuCoin SANDUSDTM	−0.0090%	8h	0.04133	+0.063%	$2.5M	$368K	50x	as long as short
Bybit SANDUSDT	−0.0038%	8h	0.04127	−0.082%	$3.4M	$3.4M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SAND-USDT-SWAP	+0.0025%	8h	0.04127	−0.082%	$1.7M	$3.1M	50x	as long as short
BingX SAND-USDT	+0.0028%	8h	0.04133	+0.063%	—	$2.4M	—	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−0.034%	$757	$795	5.5x	as long as short
Hyperliquid SANDlong	+0.0100%	1h	0.04130	long leg	$571K	$325K	5x
Kraken Futures PF_SANDUSD	+0.0500%	1h	0.04133	+0.055%	$154K	$108K	25x	as long as short