Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0142%/8h= +15.6% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bitget+0.005%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1251.248% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now +0.005%, 7d avg +0.026%

Together, before fees−0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.022% cheaper against Bitget than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.026%). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.113%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SANDUSDT	0.04178	−0.0223	get 0.0223% / 8h	1h 37m	$1.7M	$545K	10x
Short	Hyperliquid SAND	0.04178	−0.0081	pay 0.0010% / 1h	37m 33s	$580K	$327K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.005%Rate

Funding earned: $29.84
Price spread: +0.005% → +0.026%: −$2.15
Slippage, 4 orders: −$103.82
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$97.14
Costs to cover: 1.248%
Break-even: 29.8 days

Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 32 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 Bitget live order book, 4 min ago	2.39 bp	40.5 bp −$41	58.9 bp −$589	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 32 min ago	0.71 bp	21.3 bp −$21	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
Aster SANDUSDT	−0.0405%	8h	0.04188	+0.239%	$14K	$16K	10x	as long as short
Variational Omni SAND	−0.0372%	8h	0.04180	+0.042%	$114K	$4K	—	as long as short
BloFin SAND-USDT	−0.0317%	8h	0.04178	0.000%	$330K	$139K	75x	as long as short
Binance SANDUSDT	−0.0312%	8h	0.04182	+0.099%	$6.7M	$13.2M	75x	as long as short
Extended SAND-USD	−0.0312%	1h	0.04183	+0.109%	$6K	$228K	10x	as long as short
MEXC SAND_USDT	−0.0312%	8h	0.04185	+0.168%	$11.2M	$1.9M	200x	as long as short
Bitget SANDUSDTlong	−0.0223%	8h	0.04178	long leg	$1.7M	$545K	10x
KuCoin SANDUSDTM	−0.0218%	8h	0.04178	0.000%	$2.6M	$389K	50x	as long as short
Kraken Futures PF_SANDUSD	−0.0216%	1h	0.04183	+0.123%	$156K	$105K	25x	as long as short
OKX SAND-USDT-SWAP	−0.0191%	8h	0.04181	+0.072%	$1.7M	$3.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid SANDshort	−0.0081%	1h	0.04178	+0.005%	$580K	$327K	5x
Bybit SANDUSDT	−0.0055%	8h	0.04182	+0.096%	$3.5M	$3.9M	75x	as long as short
BingX SAND-USDT	−0.0042%	8h	0.04182	+0.096%	—	$2.4M	—	as long as short
Gate SAND_USDT	−0.0023%	8h	0.04180	+0.048%	$482K	$667K	75x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.173%	$757	$795	5.5x	as long as short