Funding arb · Price arb /

SAND

all SAND markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0379%/8h= +41.5% APRpaid last 24h −0.019%

Price spread now: Kraken Futures against BloFin+0.253%57s7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1231.234% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.502%−$50 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.253%, 7d avg +0.106%

Together, before fees−0.689%−$69 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.147% dearer against BloFin than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.106%. Mind the row above: over the last 7 days funding on this pair cost −0.502%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SAND-USDT	0.04228	−0.0269	get 0.0269% / 8h	2h 04m	$327K	$140K	75x
Short	Kraken Futures PF_SANDUSD	0.04239	0.0110	get 0.0014% / 1h	4m 09s	$160K	$104K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.253%Rate

Funding earned: $79.67
Price spread: +0.253% → +0.106%: $14.7
Slippage, 4 orders: −$101.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$29
Costs to cover: 1.234%
Break-even: 9.5 days

Slippage from BloFin: live order book, 21 min ago; Kraken Futures: live order book, 43 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 BloFin live order book, 21 min ago	1.20 bp	15.2 bp −$15	21.7 bp −$217	117.0 bp −$11.7K	doesn't fit
Sell Kraken Futures live order book, 43 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
Hyperliquid SAND	−0.0501%	1h	0.04232	+0.088%	$587K	$328K	5x	as long as short
Aster SANDUSDT	−0.0361%	8h	0.04233	+0.121%	$14K	$16K	10x	as long as short
Variational Omni SAND	−0.0356%	8h	0.04219	−0.219%	$115K	$4K	—	as long as short
MEXC SAND_USDT	−0.0273%	8h	0.04234	+0.142%	$11.4M	$1.9M	200x	as long as short
Extended SAND-USD	−0.0272%	1h	0.04235	+0.163%	$3K	$223K	10x	as long as short
Binance SANDUSDT	−0.0272%	8h	0.04233	+0.114%	$6.8M	$13.0M	75x	as long as short
BloFin SAND-USDTlong	−0.0269%	8h	0.04228	long leg	$327K	$140K	75x
Bitget SANDUSDT	−0.0236%	8h	0.04230	+0.047%	$1.7M	$548K	10x	as long as short
KuCoin SANDUSDTM	−0.0182%	8h	0.04226	−0.047%	$2.6M	$363K	50x	as long as short
OKX SAND-USDT-SWAP	−0.0162%	8h	0.04229	+0.024%	$1.7M	$3.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SANDUSDT	−0.0041%	8h	0.04233	+0.118%	$3.5M	$3.7M	75x	as long as short
BingX SAND-USDT	−0.0030%	8h	0.04234	+0.142%	—	$2.4M	—	as long as short
Gate SAND_USDT	−0.0003%	8h	0.04236	+0.189%	$487K	$672K	75x	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−2.342%	$757	$795	5.5x	as long as short
Kraken Futures PF_SANDUSDshort	+0.0110%	1h	0.04239	+0.253%	$160K	$104K	25x