Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h 0.000%

Price spread now: Binance against Kraken Futures−0.203%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$830.832% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.276%+$28 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.203%, 7d avg −0.098%

Together, before fees+0.446%+$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.104% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.098%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.276%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SANDUSD	0.04188	−0.0216	get 0.0027% / 1h	35m 51s	$159K	$109K	25x
Short	Binance SANDUSDT	0.04180	−0.0312	pay 0.0312% / 8h	1h 35m	$6.7M	$13.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.203%Rate

Funding earned: −$20.19
Price spread: −0.203% → −0.098%: −$10.44
Slippage, 4 orders: −$63.2
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$113.83
Costs to cover: 0.832%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; Binance: live order book, 4 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 Kraken Futures live order book, 6 min ago	7.17 bp	31.4 bp −$31	91.7 bp −$917	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.20 bp	11.6 bp −$12	26.9 bp −$269	196.0 bp −$19.6K	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
Aster SANDUSDT	−0.0405%	8h	0.04186	−0.061%	$14K	$16K	10x	as long as short
Variational Omni SAND	−0.0374%	8h	0.04173	−0.363%	$114K	$4K	—	as long as short
BloFin SAND-USDT	−0.0341%	8h	0.04182	−0.155%	$330K	$139K	75x	as long as short
Binance SANDUSDTshort	−0.0312%	8h	0.04180	−0.203%	$6.7M	$13.3M	75x
Extended SAND-USD	−0.0312%	1h	0.04179	−0.227%	$6K	$220K	10x	as long as short
MEXC SAND_USDT	−0.0312%	8h	0.04179	−0.226%	$11.2M	$1.9M	200x	as long as short
Bitget SANDUSDT	−0.0223%	8h	0.04177	−0.274%	$1.7M	$546K	10x	as long as short
KuCoin SANDUSDTM	−0.0221%	8h	0.04173	−0.370%	$2.6M	$389K	50x	as long as short
Kraken Futures PF_SANDUSDlong	−0.0216%	1h	0.04188	long leg	$159K	$109K	25x
OKX SAND-USDT-SWAP	−0.0189%	8h	0.04182	−0.155%	$1.7M	$3.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid SAND	−0.0062%	1h	0.04177	−0.274%	$579K	$327K	5x	as long as short
Bybit SANDUSDT	−0.0053%	8h	0.04180	−0.203%	$3.5M	$3.9M	75x	as long as short
BingX SAND-USDT	−0.0043%	8h	0.04179	−0.226%	—	$2.4M	—	as long as short
Gate SAND_USDT	−0.0025%	8h	0.04181	−0.179%	$481K	$667K	75x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.420%	$757	$795	5.5x	as long as short