Funding you earn now, next payment 01:00 UTC−0.0857%/8h= −93.8% APRpaid last 24h −0.054%
Price spread now: Kraken Futures against OKX+0.457%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$161as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$1191.194% of the position
Funding, last 7 days−0.415%−$42 on $10k
+Price spread, last 3 days (all we have)−0.470%−$47 · spread now +0.457%, 7d avg +0.077%
=The price spread pays, funding is against you. Kraken Futures is 0.379% dearer against OKX than usual: you sell high and buy low (spread +0.457% now, against its 7-day average of +0.077%): +$38 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 7 days (−0.415% in total) that is about 6.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.415% in total (about -21.7% 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 | OKX SAND-USDT-SWAP | 0.04191 | 0.0100 | pay 0.0100% / 8h | 7h 06m | $1.7M | $3.2M | 50x |
| Short | Kraken Futures PF_SANDUSD | 0.04210 | −0.0757 | pay 0.0095% / 1h | 6m 48s | $156K | $117K | 25x |
OKX SAND-USDT-SWAP
Kraken Futures PF_SANDUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against OKX. 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
- −$179.89
- Price spread: +0.457% → +0.077%
- $37.95
- Slippage, 4 orders
- −$99.39
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$261.33
- Costs to cover
- 1.194%
- Break-even
- never at this rate
Slippage from OKX: live order book, just now; Kraken Futures: live order book, 1 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, just now | 2.38 bp | 15.2 bp −$15 | 148.8 bp −$1,488 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 11.89 bp | 34.0 bp −$34 | 69.9 bp −$699 | 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_SANDUSDshort | −0.0757% | 1h | 0.04210 | +0.457% | $156K | $117K | 25x | |
| Variational Omni SAND | −0.0295% | 8h | 0.04195 | +0.103% | $115K | $5K | — | as long as short |
| Hyperliquid SAND | −0.0279% | 1h | 0.04190 | −0.012% | $578K | $454K | 5x | as long as short |
| Bybit SANDUSDT | −0.0178% | 8h | 0.04193 | +0.048% | $3.4M | $3.4M | 75x | as long as short |
| Aster SANDUSDT | −0.0138% | 8h | 0.04195 | +0.100% | $14K | $17K | 10x | as long as short |
| Bitget SANDUSDT | −0.0043% | 8h | 0.04188 | −0.072% | $1.7M | $575K | 10x | as long as short |
| Binance SANDUSDT | −0.0034% | 8h | 0.04195 | +0.098% | $6.5M | $12.2M | 75x | as long as short |
| MEXC SAND_USDT | −0.0033% | 8h | 0.04194 | +0.072% | $11.7M | $1.8M | 200x | as long as short |
| Extended SAND-USD | −0.0032% | 1h | 0.04198 | +0.167% | $4K | $171K | 10x | as long as short |
| KuCoin SANDUSDTM | −0.0032% | 8h | 0.04193 | +0.048% | $2.6M | $373K | 50x | as long as short |
Variational Omni SAND
Hyperliquid SAND
Bybit SANDUSDT
Aster SANDUSDT
Bitget SANDUSDT
Binance SANDUSDT
MEXC SAND_USDT
Extended SAND-USD
KuCoin SANDUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin SAND-USDT | −0.0017% | 8h | 0.04202 | +0.262% | $320K | $293K | 75x | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −1.479% | $757 | $795 | 5.5x | as long as short |
| OKX SAND-USDT-SWAPlong | +0.0100% | 8h | 0.04191 | long leg | $1.7M | $3.2M | 50x | |
| Gate SAND_USDT | +0.0100% | 8h | 0.04198 | +0.167% | $504K | $589K | 75x | as long as short |
| BingX SAND-USDT | +0.0100% | 8h | 0.04199 | +0.191% | — | $2.4M | — | as long as short |
BloFin SAND-USDT
Injective SAND/USDC PERP
Gate SAND_USDT
BingX SAND-USDT