Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0427%/8h= +46.8% APRpaid last 24h +0.064%

Price spread now: Injective against BloFin−1.901%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 1.901% cheaper against BloFin than usual: you would sell low and buy high (spread −1.901% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$190 on $10k: about 15 days of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SAND-USDT	0.04209	−0.0394	get 0.0394% / 8h	1h 00m	$331K	$140K	75x
Short	Injective SAND/USDC PERP	0.04129	0.0033	get 0.0004% / 1h	0m 01s	$757	$795	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −1.901%Rate

Funding earned: $89.69
Price spread: −1.901% → 0.000%: −$190.07
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$112.4
Costs to cover: 0.120%
Break-even: 15.8 days

Slippage unknown: BloFin: live order book, 20 min ago; Injective: no order-book sample. Net counts fees only.

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 BloFin live order book, 20 min ago	2.38 bp	13.0 bp −$13	18.5 bp −$185	82.8 bp −$8,280	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 SAND	−0.0468%	1h	0.04214	+0.116%	$583K	$329K	5x	as long as short
Aster SANDUSDT	−0.0460%	8h	0.04214	+0.113%	$14K	$16K	10x	as long as short
BloFin SAND-USDTlong	−0.0394%	8h	0.04209	long leg	$331K	$140K	75x
Variational Omni SAND	−0.0392%	8h	0.04208	−0.029%	$115K	$4K	—	as long as short
Extended SAND-USD	−0.0376%	1h	0.04217	+0.197%	$3K	$166K	10x	as long as short
Binance SANDUSDT	−0.0373%	8h	0.04215	+0.145%	$6.8M	$13.5M	75x	as long as short
MEXC SAND_USDT	−0.0366%	8h	0.04217	+0.190%	$11.3M	$2.0M	200x	as long as short
KuCoin SANDUSDTM	−0.0307%	8h	0.04212	+0.071%	$2.6M	$386K	50x	as long as short
OKX SAND-USDT-SWAP	−0.0242%	8h	0.04217	+0.190%	$1.7M	$3.3M	50x	as long as short
Bitget SANDUSDT	−0.0238%	8h	0.04210	+0.024%	$1.8M	$553K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SANDUSD	−0.0214%	1h	0.04226	+0.395%	$160K	$110K	25x	as long as short
Bybit SANDUSDT	−0.0082%	8h	0.04217	+0.190%	$3.6M	$4.0M	75x	as long as short
Gate SAND_USDT	−0.0053%	8h	0.04217	+0.190%	$492K	$682K	75x	as long as short
BingX SAND-USDT	−0.0041%	8h	0.04216	+0.166%	—	$2.4M	—	as long as short
Injective SAND/USDC PERPshort	+0.0033%	1h	0.04129	−1.901%	$757	$795	5.5x