Settings8H · net · $10k
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Funding arb · Price arb /

SAND

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0202%/8h= +22.1% APRnext payment +$2.02 per $10,000 · paid last 24h +0.016%
Price spread now: BingX against Bybit+0.072%7-day average +0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$620.617% of the position
Long on BybitShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.109%+$11 on $10k
Price spread, last 7 days−0.063%−$6 · spread now +0.072%, 7d avg +0.017%
Together, before fees+0.046%+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BingX is 0.055% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.017%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.109% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.02 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit SANDUSDT0.04157−0.0102get 0.0102% / 8h6h 01m$3.4M$3.4M75x
ShortBingX SAND-USDT0.041600.0100get 0.0100% / 8h6h 01m—$2.4M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$42.34
Price spread: +0.072% → +0.017%
$5.53
Slippage, 4 orders
−$40.67
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee BingX: 5 bp × 2 orders
−$10
Net
−$13.79
Costs to cover
0.617%
Break-even
9.3 days
Slippage from Bybit: live order book, 1 min ago; BingX: live order book, 3 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 Bybit live order book, 1 min ago1.20 bp13.9 bp −$1438.9 bp −$389doesn't fitdoesn't fit
Sell BingX live order book, 3 min ago3.60 bp19.1 bp −$1935.5 bp −$355149.8 bp −$15.0K780.1 bp −$390.0K

SAND on 14 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−0.0352%8h0.04153−0.102%$114K$4K—as long as short
Aster SANDUSDT−0.0148%8h0.04161+0.101%$14K$17K10xas long as short
Bybit SANDUSDTlong−0.0102%8h0.04157long leg$3.4M$3.4M75x
Hyperliquid SAND−0.0047%1h0.04151−0.137%$575K$358K5xas long as short
Extended SAND-USD−0.0040%1h0.04154−0.066%$3K$173K10xas long as short
MEXC SAND_USDT−0.0039%8h0.04156−0.024%$11.6M$1.7M200xas long as short
Binance SANDUSDT−0.0038%8h0.04155−0.046%$6.4M$12.0M75xas long as short
Bitget SANDUSDT−0.0016%8h0.04150−0.168%$1.7M$548K10xas long as short
KuCoin SANDUSDTM+0.0023%8h0.04154−0.072%$2.5M$376K50xas long as short
Injective SAND/USDC PERP+0.0033%1h0.04129−0.674%$757$7955.5xas long as short
Show all 14 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX SAND-USDT-SWAP+0.0100%8h0.04158+0.024%$1.7M$3.2M50xas long as short
Gate SAND_USDT+0.0100%8h0.04160+0.072%$459K$626K75xas long as short
BingX SAND-USDTshort+0.0100%8h0.04160+0.072%—$2.4M—
Kraken Futures PF_SANDUSD+0.0430%1h0.04166+0.224%$155K$106K25xas long as short