Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.043%

Price spread now: Extended against OKX+0.019%7-day average −0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.019%, 7d avg −0.058%

Together, before fees−0.189%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.076% dearer against OKX than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.058%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 7 days (−0.091% in total) that is about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SAND-USDT-SWAP	0.04181	−0.0099	get 0.0099% / 8h	3h 11m	$1.7M	$3.1M	50x
Short	Extended SAND-USD	0.04182	−0.0224	pay 0.0028% / 1h	11m 17s	$6K	$233K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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

Position, each leg$Hold fordaysFee OKXbpFee ExtendedbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$26.29
Price spread: +0.019% → −0.058%: $7.64
Slippage, 4 orders: −$40.85
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$74.5
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Extended: live order book, 40 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 OKX live order book, 1 min ago	2.39 bp	14.8 bp −$15	706.8 bp −$7,068	doesn't fit	doesn't fit
Sell Extended live order book, 40 min ago	2.26 bp	12.7 bp −$13	89.8 bp −$898	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_SANDUSD	−0.1121%	1h	0.04185	+0.099%	$157K	$105K	25x	as long as short
Hyperliquid SAND	−0.0474%	1h	0.04179	−0.055%	$576K	$325K	5x	as long as short
Variational Omni SAND	−0.0364%	8h	0.04189	+0.186%	$114K	$4K	—	as long as short
Aster SANDUSDT	−0.0322%	8h	0.04186	+0.121%	$14K	$16K	10x	as long as short
BloFin SAND-USDT	−0.0240%	8h	0.04180	−0.024%	$327K	$202K	75x	as long as short
Binance SANDUSDT	−0.0226%	8h	0.04183	+0.048%	$6.7M	$12.4M	75x	as long as short
Bitget SANDUSDT	−0.0226%	8h	0.04185	+0.096%	$1.7M	$548K	10x	as long as short
Extended SAND-USDshort	−0.0224%	1h	0.04182	+0.019%	$6K	$233K	10x
MEXC SAND_USDT	−0.0224%	8h	0.04181	0.000%	$11.5M	$2.0M	200x	as long as short
KuCoin SANDUSDTM	−0.0149%	8h	0.04175	−0.144%	$2.6M	$350K	50x	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-SWAPlong	−0.0099%	8h	0.04181	long leg	$1.7M	$3.1M	50x
BingX SAND-USDT	−0.0013%	8h	0.04182	+0.024%	—	$2.4M	—	as long as short
Bybit SANDUSDT	−0.0013%	8h	0.04181	0.000%	$3.5M	$3.6M	75x	as long as short
Gate SAND_USDT	+0.0027%	8h	0.04182	+0.024%	$472K	$653K	75x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.244%	$757	$795	5.5x	as long as short