Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.027%

Price spread now: Gate against Kraken Futures+0.006%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1381.380% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.387%+$39 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now +0.006%, 7d avg −0.076%

Together, before fees+0.421%+$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Gate is 0.081% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SANDUSD	0.04183	−0.0079	get 0.0010% / 1h	4m 58s	$155K	$104K	25x
Short	Gate SAND_USDT	0.04183	0.0100	get 0.0100% / 8h	1h 04m	$464K	$571K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee GatebpOrdersPrice spread, now +0.006%Rate

Funding earned: $37.68
Price spread: +0.006% → −0.076%: $8.11
Slippage, 4 orders: −$112.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$92.17
Costs to cover: 1.380%
Break-even: 24.1 days

Slippage from Kraken Futures: live order book, 12 min ago; Gate: live order book, 11 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, 12 min ago	8.41 bp	48.9 bp −$49	91.3 bp −$913	doesn't fit	doesn't fit
Sell Gate live order book, 11 min ago	2.40 bp	32.8 bp −$33	doesn't fit	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	−0.0189%	8h	0.04173	−0.235%	$114K	$4K	—	as long as short
Hyperliquid SAND	−0.0183%	1h	0.04177	−0.126%	$575K	$447K	5x	as long as short
Aster SANDUSDT	−0.0087%	8h	0.04182	−0.027%	$14K	$18K	10x	as long as short
Kraken Futures PF_SANDUSDlong	−0.0079%	1h	0.04183	long leg	$155K	$104K	25x
Bitget SANDUSDT	−0.0028%	8h	0.04178	−0.114%	$1.7M	$544K	10x	as long as short
KuCoin SANDUSDTM	−0.0025%	8h	0.04176	−0.162%	$2.6M	$383K	50x	as long as short
MEXC SAND_USDT	+0.0015%	8h	0.04182	−0.018%	$11.7M	$1.7M	200x	as long as short
Binance SANDUSDT	+0.0015%	8h	0.04184	+0.039%	$6.6M	$12.4M	75x	as long as short
Extended SAND-USD	+0.0016%	1h	0.04181	−0.049%	$3K	$194K	10x	as long as short
BloFin SAND-USDT	+0.0019%	8h	0.04175	−0.186%	$322K	$293K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.285%	$757	$795	5.5x	as long as short
Bybit SANDUSDT	+0.0100%	8h	0.04182	−0.018%	$3.4M	$3.3M	75x	as long as short
OKX SAND-USDT-SWAP	+0.0100%	8h	0.04183	+0.006%	$1.8M	$3.4M	50x	as long as short
Gate SAND_USDTshort	+0.0100%	8h	0.04183	+0.006%	$464K	$571K	75x
BingX SAND-USDT	+0.0100%	8h	0.04181	−0.042%	—	$2.4M	—	as long as short