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Funding arb · Price arb /

SAND

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0011%/8h= +1.2% APRnext payment +$0.11 per $10,000 · paid last 24h +0.036%
Price spread now: BloFin against MEXC−0.024%79s7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$470.475% of the position
Long on MEXCShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.219%+$22 on $10k
Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.024%, 7d avg 0.000%
Together, before fees+0.191%+$19 on $10k · with fees, hour by hour
Funding pays, the price is against you. BloFin is 0.024% cheaper against MEXC than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of 0.000%). If the spread goes back, that is −$2 on $10k: about 7.6 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.219% in total) that is about 19 hours. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC SAND_USDT0.04172−0.0015get 0.0015% / 8h1h 31m$11.7M$1.7M200x
ShortBloFin SAND-USDT0.04171−0.0004pay 0.0004% / 8h1h 31m$323K$292K75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against MEXC. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$2.22
Price spread: −0.024% → 0.000%
−$2.42
Slippage, 4 orders
−$31.49
Fee MEXC: 2 bp × 2 orders
−$4
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$47.69
Costs to cover
0.475%
Break-even
157.6 days
Slippage from MEXC: live order book, 1 min ago; BloFin: live order book, 48 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy MEXC live order book, 1 min ago2.40 bp8.8 bp −$916.8 bp −$16881.3 bp −$8,132188.6 bp −$94.3K
Sell BloFin live order book, 48 min ago3.59 bp18.0 bp −$1823.3 bp −$23384.6 bp −$8,464doesn't fit

SAND on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hyperliquid SAND−0.0390%1h0.04167−0.125%$573K$445K5xas long as short
Variational Omni SAND−0.0187%8h0.04171−0.023%$114K$4K—as long as short
Aster SANDUSDT−0.0112%8h0.04163−0.216%$14K$18K10xas long as short
Kraken Futures PF_SANDUSD−0.0080%1h0.04171−0.033%$155K$98K25xas long as short
Bitget SANDUSDT−0.0059%8h0.04166−0.144%$1.7M$548K10xas long as short
KuCoin SANDUSDTM−0.0054%8h0.04164−0.192%$2.6M$372K50xas long as short
Extended SAND-USD−0.0016%1h0.04169−0.067%$3K$194K10xas long as short
Binance SANDUSDT−0.0015%8h0.04171−0.024%$6.6M$12.4M75xas long as short
MEXC SAND_USDTlong−0.0015%8h0.04172long leg$11.7M$1.7M200x
BloFin SAND-USDTshort−0.0004%8h0.04171−0.024%$323K$292K75x
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective SAND/USDC PERP+0.0033%1h0.04129−1.031%$757$7955.5xas long as short
Bybit SANDUSDT+0.0100%8h0.04167−0.120%$3.4M$3.3M75xas long as short
OKX SAND-USDT-SWAP+0.0100%8h0.04170−0.048%$1.8M$3.3M50xas long as short
Gate SAND_USDT+0.0100%8h0.04168−0.096%$463K$570K75xas long as short
BingX SAND-USDT+0.0100%8h0.04171−0.024%—$2.4M—as long as short