Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Bybit against Gate−0.167%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$950.950% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.167%, 7d avg −0.051%

Together, before fees+0.066%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.117% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAND_USDT	0.04183	0.0100	pay 0.0100% / 8h	2h 22m	$466K	$574K	75x
Short	Bybit SANDUSDT	0.04176	0.0100	get 0.0100% / 8h	2h 22m	$3.3M	$3.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.167%Rate

Funding earned: $0
Price spread: −0.167% → −0.051%: −$11.67
Slippage, 4 orders: −$69.01
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$106.68
Costs to cover: 0.950%
Break-even: never at this rate

Slippage from Gate: live order book, 63 min ago; Bybit: live order book, 5 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 Gate live order book, 63 min ago	2.40 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.20 bp	14.0 bp −$14	41.9 bp −$419	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
Variational Omni SAND	−0.0139%	8h	0.04169	−0.326%	$114K	$5K	—	as long as short
Bitget SANDUSDT	−0.0038%	8h	0.04175	−0.191%	$1.7M	$545K	10x	as long as short
KuCoin SANDUSDTM	−0.0032%	8h	0.04179	−0.096%	$2.6M	$373K	50x	as long as short
Aster SANDUSDT	+0.0002%	8h	0.04179	−0.094%	$14K	$18K	10x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.291%	$757	$795	5.5x	as long as short
Binance SANDUSDT	+0.0068%	8h	0.04177	−0.143%	$6.5M	$12.3M	75x	as long as short
MEXC SAND_USDT	+0.0069%	8h	0.04176	−0.167%	$11.7M	$1.7M	200x	as long as short
Extended SAND-USD	+0.0072%	1h	0.04176	−0.166%	$3K	$194K	10x	as long as short
BloFin SAND-USDT	+0.0077%	8h	0.04177	−0.143%	$321K	$291K	75x	as long as short
Hyperliquid SAND	+0.0100%	1h	0.04174	−0.208%	$574K	$445K	5x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SANDUSDTshort	+0.0100%	8h	0.04176	−0.167%	$3.3M	$3.2M	75x
OKX SAND-USDT-SWAP	+0.0100%	8h	0.04180	−0.072%	$1.8M	$3.3M	50x	as long as short
Gate SAND_USDTlong	+0.0100%	8h	0.04183	long leg	$466K	$574K	75x
BingX SAND-USDT	+0.0100%	8h	0.04179	−0.096%	—	$2.4M	—	as long as short
Kraken Futures PF_SANDUSD	+0.0283%	1h	0.04180	−0.079%	$156K	$100K	25x	as long as short