Funding you earn now, next payment 05:00 UTC+0.1109%/8h= +121.5% APRpaid last 24h +0.021%
Price spread now: Bybit against Kraken Futures−0.061%7-day average −0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$110as in the Price arb table
costs, in and out, $10k−$1161.160% of the position
Funding, last 7 days+0.366%+$37 on $10k
+Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.061%, 7d avg −0.125%
=Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Bybit is 0.064% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.125%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.366% in total (about 19.1% 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 | Kraken Futures PF_SANDUSD | 0.04182 | −0.1122 | get 0.0140% / 1h | 8m 34s | $157K | $105K | 25x |
| Short | Bybit SANDUSDT | 0.04179 | −0.0012 | pay 0.0012% / 8h | 3h 08m | $3.5M | $3.5M | 75x |
Kraken Futures PF_SANDUSD
Bybit SANDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $232.95
- Price spread: −0.061% → −0.125%
- $6.39
- Slippage, 4 orders
- −$94.99
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $123.35
- Costs to cover
- 1.160%
- Break-even
- 3.3 days
Slippage from Kraken Futures: live order book, 44 min ago; Bybit: 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, 44 min ago | 20.18 bp | 53.6 bp −$54 | 102.4 bp −$1,024 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.39 bp | 13.6 bp −$14 | 36.2 bp −$362 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SANDUSDlong | −0.1122% | 1h | 0.04182 | long leg | $157K | $105K | 25x | |
| Hyperliquid SAND | −0.0461% | 1h | 0.04176 | −0.130% | $576K | $323K | 5x | as long as short |
| Variational Omni SAND | −0.0356% | 8h | 0.04181 | −0.020% | $114K | $4K | — | as long as short |
| Aster SANDUSDT | −0.0327% | 8h | 0.04185 | +0.080% | $14K | $16K | 10x | as long as short |
| Extended SAND-USD | −0.0232% | 1h | 0.04177 | −0.113% | $6K | $233K | 10x | as long as short |
| Binance SANDUSDT | −0.0231% | 8h | 0.04178 | −0.085% | $6.7M | $12.4M | 75x | as long as short |
| MEXC SAND_USDT | −0.0230% | 8h | 0.04177 | −0.109% | $11.5M | $2.0M | 200x | as long as short |
| Bitget SANDUSDT | −0.0228% | 8h | 0.04175 | −0.157% | $1.7M | $547K | 10x | as long as short |
| BloFin SAND-USDT | −0.0222% | 8h | 0.04172 | −0.228% | $328K | $201K | 75x | as long as short |
| KuCoin SANDUSDTM | −0.0157% | 8h | 0.04173 | −0.204% | $2.6M | $350K | 50x | as long as short |
Hyperliquid SAND
Variational Omni SAND
Aster SANDUSDT
Extended SAND-USD
Binance SANDUSDT
MEXC SAND_USDT
Bitget SANDUSDT
BloFin SAND-USDT
KuCoin SANDUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAP | −0.0111% | 8h | 0.04178 | −0.085% | $1.7M | $3.1M | 50x | as long as short |
| BingX SAND-USDT | −0.0013% | 8h | 0.04177 | −0.109% | — | $2.4M | — | as long as short |
| Bybit SANDUSDTshort | −0.0012% | 8h | 0.04179 | −0.061% | $3.5M | $3.5M | 75x | |
| Gate SAND_USDT | +0.0028% | 8h | 0.04179 | −0.061% | $471K | $653K | 75x | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −1.257% | $757 | $795 | 5.5x | as long as short |
OKX SAND-USDT-SWAP
BingX SAND-USDT
Gate SAND_USDT
Injective SAND/USDC PERP