Funding you earn now, next payment 09:00 UTC−0.1036%/8h= −113.5% APRpaid last 24h +0.001%
Price spread now: Bybit against Kraken Futures−0.064%7-day average −0.121% · you buy dearer than you sell
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$129as in the Price arb table
costs, in and out, $10k−$1351.351% of the position
Funding, last 7 days+0.363%+$36 on $10k
+Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.064%, 7d avg −0.121%
=The price spread pays, funding is against you. Bybit is 0.057% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.064% now, against its 7-day average of −0.121%): +$6 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 4 hours. Mind the row above: over the last 7 days funding on this pair paid +0.363%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.363% in total (about 18.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SANDUSD | 0.04242 | 0.0043 | pay 0.0005% / 1h | 41m 43s | $161K | $106K | 25x |
| Short | Bybit SANDUSDT | 0.04239 | −0.0993 | pay 0.0993% / 8h | 7h 41m | $3.6M | $4.2M | 75x |
Kraken Futures PF_SANDUSD
Bybit SANDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$217.62
- Price spread: −0.064% → −0.121%
- $5.68
- Slippage, 4 orders
- −$114.14
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$347.09
- Costs to cover
- 1.351%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 56 min ago; Bybit: live order book, 1 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 Kraken Futures live order book, 56 min ago | 31.93 bp | 58.8 bp −$59 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 3.54 bp | 14.0 bp −$14 | 44.5 bp −$445 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit SANDUSDTshort | −0.0993% | 8h | 0.04239 | −0.064% | $3.6M | $4.2M | 75x | |
| Hyperliquid SAND | −0.0661% | 1h | 0.04238 | −0.088% | $583K | $340K | 5x | as long as short |
| Gate SAND_USDT | −0.0626% | 8h | 0.04237 | −0.111% | $495K | $620K | 75x | as long as short |
| Aster SANDUSDT | −0.0581% | 8h | 0.04237 | −0.117% | $14K | $18K | 10x | as long as short |
| Variational Omni SAND | −0.0521% | 8h | 0.04245 | +0.073% | $116K | $4K | — | as long as short |
| Binance SANDUSDT | −0.0501% | 8h | 0.04240 | −0.040% | $7.0M | $14.1M | 75x | as long as short |
| Extended SAND-USD | −0.0496% | 1h | 0.04239 | −0.068% | $6K | $224K | 10x | as long as short |
| MEXC SAND_USDT | −0.0492% | 8h | 0.04239 | −0.064% | $11.3M | $1.9M | 200x | as long as short |
| BloFin SAND-USDT | −0.0470% | 8h | 0.04231 | −0.253% | $333K | $151K | 75x | as long as short |
| KuCoin SANDUSDTM | −0.0421% | 8h | 0.04236 | −0.135% | $2.6M | $428K | 50x | as long as short |
Hyperliquid SAND
Gate SAND_USDT
Aster SANDUSDT
Variational Omni SAND
Binance SANDUSDT
Extended SAND-USD
MEXC SAND_USDT
BloFin SAND-USDT
KuCoin SANDUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAP | −0.0319% | 8h | 0.04240 | −0.040% | $1.6M | $3.4M | 50x | as long as short |
| Bitget SANDUSDT | −0.0278% | 8h | 0.04243 | +0.030% | $1.8M | $548K | 10x | as long as short |
| BingX SAND-USDT | −0.0189% | 8h | 0.04241 | −0.017% | — | $2.4M | — | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −2.657% | $757 | $795 | 5.5x | as long as short |
| Kraken Futures PF_SANDUSDlong | +0.0043% | 1h | 0.04242 | long leg | $161K | $106K | 25x |
OKX SAND-USDT-SWAP
Bitget SANDUSDT
BingX SAND-USDT
Injective SAND/USDC PERP