Funding you earn now, next payment 00:00 UTC−0.0333%/8h= −36.5% APRpaid last 24h −0.007%
Price spread now: Hyperliquid against Binance−0.050%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$840.843% of the position
Funding, last 7 days+0.039%+$4 on $10k
+Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.050%, 7d avg −0.028%
=Together, before fees+0.096%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Hyperliquid is 0.022% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.028%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.039% in total (about 2.1% 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 | Binance SANDUSDT | 0.04193 | 0.0042 | pay 0.0042% / 8h | 51m 47s | $6.6M | $12.4M | 75x |
| Short | Hyperliquid SAND | 0.04191 | −0.0291 | pay 0.0036% / 1h | 51m 47s | $577K | $449K | 5x |
Binance SANDUSDT
Hyperliquid SANDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Binance. 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
- −$69.94
- Price spread: −0.050% → −0.028%
- −$2.2
- Slippage, 4 orders
- −$65.31
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$156.45
- Costs to cover
- 0.843%
- Break-even
- never at this rate
Slippage from Binance: live order book, 3 min ago; Hyperliquid: live order book, 18 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 Binance live order book, 3 min ago | 1.19 bp | 13.2 bp −$13 | 23.9 bp −$239 | 245.2 bp −$24.5K | doesn't fit |
| Sell Hyperliquid live order book, 18 min ago | 1.56 bp | 36.2 bp −$36 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid SANDshort | −0.0291% | 1h | 0.04191 | −0.050% | $577K | $449K | 5x | |
| Variational Omni SAND | −0.0170% | 8h | 0.04187 | −0.134% | $114K | $4K | — | as long as short |
| Kraken Futures PF_SANDUSD | −0.0139% | 1h | 0.04193 | +0.006% | $154K | $105K | 25x | as long as short |
| Aster SANDUSDT | −0.0065% | 8h | 0.04193 | −0.001% | $14K | $18K | 10x | as long as short |
| Bitget SANDUSDT | −0.0009% | 8h | 0.04186 | −0.167% | $1.7M | $543K | 10x | as long as short |
| KuCoin SANDUSDTM | +0.0001% | 8h | 0.04187 | −0.143% | $2.6M | $383K | 50x | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −1.526% | $757 | $795 | 5.5x | as long as short |
| MEXC SAND_USDT | +0.0039% | 8h | 0.04191 | −0.048% | $11.7M | $1.7M | 200x | as long as short |
| Extended SAND-USD | +0.0040% | 1h | 0.04190 | −0.068% | $3K | $194K | 10x | as long as short |
| Binance SANDUSDTlong | +0.0042% | 8h | 0.04193 | long leg | $6.6M | $12.4M | 75x |
Variational Omni SAND
Kraken Futures PF_SANDUSD
Aster SANDUSDT
Bitget SANDUSDT
KuCoin SANDUSDTM
Injective SAND/USDC PERP
MEXC SAND_USDT
Extended SAND-USDShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin SAND-USDT | +0.0066% | 8h | 0.04191 | −0.048% | $322K | $294K | 75x | as long as short |
| Bybit SANDUSDT | +0.0100% | 8h | 0.04190 | −0.072% | $3.4M | $3.3M | 75x | as long as short |
| OKX SAND-USDT-SWAP | +0.0100% | 8h | 0.04191 | −0.048% | $1.8M | $3.4M | 50x | as long as short |
| Gate SAND_USDT | +0.0100% | 8h | 0.04192 | −0.024% | $466K | $553K | 75x | as long as short |
| BingX SAND-USDT | +0.0100% | 8h | 0.04191 | −0.048% | — | $2.4M | — | as long as short |
BloFin SAND-USDT
Bybit SANDUSDT
OKX SAND-USDT-SWAP
Gate SAND_USDT
BingX SAND-USDT