Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h −0.016%

Price spread now: BloFin against Extended−0.016%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.016%, 7d avg +0.022%

Together, before fees+0.195%+ Points / potential airdropExtended: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.038% cheaper against Extended than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.022%). If the spread goes back, that is −$4 on $10k: about 7.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.179% in total) that is about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAND-USD	0.04232	−0.0488	get 0.0061% / 1h	42m 35s	$6K	$224K	10x
Short	BloFin SAND-USDT	0.04231	−0.0470	pay 0.0470% / 8h	7h 42m	$333K	$151K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.016%Rate

Funding earned: $3.82
Price spread: −0.016% → +0.022%: −$3.83
Slippage, 4 orders: −$32.71
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$49.72
Costs to cover: 0.497%
Break-even: 98.2 days

Slippage from Extended: live order book, 54 min ago; BloFin: 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 Extended live order book, 54 min ago	2.14 bp	14.1 bp −$14	72.8 bp −$728	doesn't fit	doesn't fit
Sell BloFin live order book, 32 min ago	2.36 bp	14.7 bp −$15	28.2 bp −$282	100.5 bp −$10.1K	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
Bybit SANDUSDT	−0.0993%	8h	0.04234	+0.055%	$3.6M	$4.2M	75x	as long as short
Hyperliquid SAND	−0.0663%	1h	0.04233	+0.038%	$582K	$340K	5x	as long as short
Gate SAND_USDT	−0.0645%	8h	0.04238	+0.150%	$495K	$620K	75x	as long as short
Aster SANDUSDT	−0.0573%	8h	0.04238	+0.147%	$14K	$18K	10x	as long as short
Variational Omni SAND	−0.0521%	8h	0.04245	+0.310%	$116K	$4K	—	as long as short
Binance SANDUSDT	−0.0492%	8h	0.04236	+0.102%	$7.0M	$14.1M	75x	as long as short
Extended SAND-USDlong	−0.0488%	1h	0.04232	long leg	$6K	$224K	10x
MEXC SAND_USDT	−0.0486%	8h	0.04233	+0.031%	$11.2M	$1.9M	200x	as long as short
BloFin SAND-USDTshort	−0.0470%	8h	0.04231	−0.016%	$333K	$151K	75x
KuCoin SANDUSDTM	−0.0422%	8h	0.04236	+0.102%	$2.6M	$428K	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-SWAP	−0.0318%	8h	0.04237	+0.126%	$1.6M	$3.4M	50x	as long as short
Bitget SANDUSDT	−0.0272%	8h	0.04243	+0.268%	$1.8M	$548K	10x	as long as short
BingX SAND-USDT	−0.0193%	8h	0.04237	+0.126%	—	$2.4M	—	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−2.426%	$757	$795	5.5x	as long as short
Kraken Futures PF_SANDUSD	+0.0043%	1h	0.04245	+0.319%	$161K	$106K	25x	as long as short