Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.045%

Price spread now: Kraken Futures against OKX+0.147%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1201.202% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.367%−$37 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.147%, 7d avg +0.075%

Together, before fees−0.528%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.072% dearer against OKX than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of +0.075%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 7 days (−0.367% in total) that is about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SAND-USDT-SWAP	0.04179	−0.0193	get 0.0193% / 8h	1h 42m	$1.7M	$3.2M	50x
Short	Kraken Futures PF_SANDUSD	0.04185	−0.0216	pay 0.0027% / 1h	42m 03s	$156K	$106K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$4.87
Price spread: +0.147% → +0.075%: $7.2
Slippage, 4 orders: −$100.15
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$117.83
Costs to cover: 1.202%
Break-even: never at this rate

Slippage from OKX: live order book, just now; Kraken Futures: live order book, 65 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 OKX live order book, just now	1.20 bp	16.8 bp −$17	843.6 bp −$8,436	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 65 min ago	14.29 bp	30.0 bp −$30	59.8 bp −$598	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
Aster SANDUSDT	−0.0399%	8h	0.04185	+0.145%	$14K	$16K	10x	as long as short
Variational Omni SAND	−0.0374%	8h	0.04178	−0.029%	$114K	$4K	—	as long as short
Binance SANDUSDT	−0.0307%	8h	0.04179	−0.011%	$6.7M	$13.2M	75x	as long as short
MEXC SAND_USDT	−0.0306%	8h	0.04180	+0.024%	$11.2M	$1.9M	200x	as long as short
Extended SAND-USD	−0.0304%	1h	0.04178	−0.034%	$6K	$228K	10x	as long as short
BloFin SAND-USDT	−0.0288%	8h	0.04185	+0.144%	$331K	$139K	75x	as long as short
Bitget SANDUSDT	−0.0224%	8h	0.04175	−0.096%	$1.7M	$545K	10x	as long as short
Kraken Futures PF_SANDUSDshort	−0.0216%	1h	0.04185	+0.147%	$156K	$106K	25x
KuCoin SANDUSDTM	−0.0215%	8h	0.04181	+0.048%	$2.6M	$375K	50x	as long as short
Hyperliquid SAND	−0.0196%	1h	0.04178	−0.022%	$580K	$328K	5x	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-SWAPlong	−0.0193%	8h	0.04179	long leg	$1.7M	$3.2M	50x
Bybit SANDUSDT	−0.0053%	8h	0.04180	+0.024%	$3.5M	$3.9M	75x	as long as short
BingX SAND-USDT	−0.0037%	8h	0.04181	+0.048%	—	$2.4M	—	as long as short
Gate SAND_USDT	−0.0027%	8h	0.04180	+0.024%	$482K	$666K	75x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−1.196%	$757	$795	5.5x	as long as short