Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h +0.030%

Price spread now: Gate against Kraken Futures+0.021%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1241.235% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now +0.021%, 7d avg −0.072%

Together, before fees+0.447%+$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.093% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.072%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 40 hours. Mind the row above: over the last 7 days funding on this pair paid +0.391%, 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	0.04157	0.0285	pay 0.0036% / 1h	33m 57s	$155K	$97K	25x
Short	Gate SAND_USDT	0.04158	0.0100	get 0.0100% / 8h	2h 33m	$464K	$573K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.021%Rate

Funding earned: −$38.78
Price spread: +0.021% → −0.072%: $9.28
Slippage, 4 orders: −$98.51
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$153.01
Costs to cover: 1.235%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 53 min ago; Gate: live order book, 52 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, 53 min ago	10.78 bp	34.9 bp −$35	85.5 bp −$855	doesn't fit	doesn't fit
Sell Gate live order book, 52 min ago	2.40 bp	28.6 bp −$29	doesn't fit	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
Variational Omni SAND	−0.0156%	8h	0.04150	−0.163%	$113K	$5K	—	as long as short
KuCoin SANDUSDTM	−0.0052%	8h	0.04155	−0.052%	$2.6M	$370K	50x	as long as short
Bitget SANDUSDT	−0.0048%	8h	0.04155	−0.052%	$1.7M	$545K	10x	as long as short
Aster SANDUSDT	−0.0011%	8h	0.04159	+0.036%	$14K	$18K	10x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−0.677%	$757	$795	5.5x	as long as short
MEXC SAND_USDT	+0.0053%	8h	0.04158	+0.021%	$11.7M	$1.7M	200x	as long as short
Binance SANDUSDT	+0.0056%	8h	0.04159	+0.036%	$6.5M	$12.2M	75x	as long as short
Extended SAND-USD	+0.0056%	1h	0.04158	+0.024%	$3K	$194K	10x	as long as short
BloFin SAND-USDT	+0.0074%	8h	0.04155	−0.052%	$322K	$290K	75x	as long as short
Hyperliquid SAND	+0.0100%	1h	0.04155	−0.054%	$572K	$443K	5x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SANDUSDT	+0.0100%	8h	0.04157	−0.003%	$3.3M	$3.2M	75x	as long as short
OKX SAND-USDT-SWAP	+0.0100%	8h	0.04159	+0.045%	$1.8M	$3.3M	50x	as long as short
Gate SAND_USDTshort	+0.0100%	8h	0.04158	+0.021%	$464K	$573K	75x
BingX SAND-USDT	+0.0100%	8h	0.04158	+0.021%	—	$2.4M	—	as long as short
Kraken Futures PF_SANDUSDlong	+0.0285%	1h	0.04157	long leg	$155K	$97K	25x