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Funding arb · Price arb /

SAND

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.004%
Price spread now: Bitget against Kraken Futures−0.210%7-day average −0.158% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1151.149% of the position
Long on Kraken FuturesShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days+0.469%+$47 on $10k
Price spread, last 3 days (all we have)+0.173%+$17 · spread now −0.210%, 7d avg −0.158%
Together, before fees+0.642%+$64 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bitget is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.210% now, against its 7-day average of −0.158%). If the spread goes back, that is −$5 on $10k: about 3.9 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.469% in total) that is about 19 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_SANDUSD0.04171−0.0080get 0.0010% / 1h7m 44s$156K$102K25x
ShortBitget SANDUSDT0.04162−0.0035pay 0.0035% / 8h1h 07m$1.7M$543K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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

Funding earned
$9.38
Price spread: −0.210% → −0.158%
−$5.21
Slippage, 4 orders
−$92.86
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$110.7
Costs to cover
1.149%
Break-even
89.6 days
Slippage from Kraken Futures: live order book, 10 min ago; Bitget: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 10 min ago8.41 bp48.9 bp −$4991.3 bp −$913doesn't fitdoesn't fit
Sell Bitget live order book, 4 min ago1.20 bp23.1 bp −$2337.4 bp −$374doesn't fitdoesn't fit

SAND on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni SAND−0.0199%8h0.04167−0.080%$114K$4K—as long as short
Hyperliquid SAND−0.0194%1h0.04165−0.141%$573K$446K5xas long as short
Aster SANDUSDT−0.0094%8h0.04169−0.040%$14K$18K10xas long as short
Kraken Futures PF_SANDUSDlong−0.0080%1h0.04171long leg$156K$102K25x
Bitget SANDUSDTshort−0.0035%8h0.04162−0.210%$1.7M$543K10x
KuCoin SANDUSDTM−0.0030%8h0.04164−0.162%$2.5M$382K50xas long as short
Extended SAND-USD+0.0008%1h0.04166−0.111%$3K$194K10xas long as short
MEXC SAND_USDT+0.0009%8h0.04167−0.090%$11.7M$1.7M200xas long as short
Binance SANDUSDT+0.0012%8h0.04167−0.094%$6.6M$12.4M75xas long as short
BloFin SAND-USDT+0.0022%8h0.04168−0.066%$322K$292K75xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective SAND/USDC PERP+0.0033%1h0.04129−1.001%$757$7955.5xas long as short
Bybit SANDUSDT+0.0100%8h0.04162−0.210%$3.4M$3.3M75xas long as short
OKX SAND-USDT-SWAP+0.0100%8h0.04172+0.029%$1.8M$3.4M50xas long as short
Gate SAND_USDT+0.0100%8h0.04170−0.018%$463K$571K75xas long as short
BingX SAND-USDT+0.0100%8h0.04170−0.018%—$2.4M—as long as short