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Funding arb · Price arb /

SAND

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.1144%/8h= −125.2% APRpaid last 24h −0.017%
Price spread now: Kraken Futures against Gate+0.053%7-day average +0.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$182as in the Funding arb table
Net, price: spread back to 7d avg − costs−$147as in the Price arb table
costs, in and out, $10k−$1451.452% of the position
Long on GateShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days−0.365%−$37 on $10k
Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.053%, 7d avg +0.072%
Together, before fees−0.458%−$46 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.072%, so right now this pair is about funding alone: −$34 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.365% in total (about -19.0% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate SAND_USDT0.041900.0025pay 0.0025% / 8h3h 24m$476K$649K75x
ShortKraken Futures PF_SANDUSD0.04192−0.1119pay 0.0140% / 1h24m 02s$157K$105K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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

Funding earned
−$240.17
Price spread: +0.053% → +0.072%
−$1.91
Slippage, 4 orders
−$120.23
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$387.31
Costs to cover
1.452%
Break-even
never at this rate
Slippage from Gate: live order book, 27 min ago; Kraken Futures: live order book, 28 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 Gate live order book, 27 min ago3.57 bp29.2 bp −$29307.8 bp −$3,078doesn't fitdoesn't fit
Sell Kraken Futures live order book, 28 min ago20.18 bp35.8 bp −$3677.0 bp −$770doesn't fitdoesn't fit

SAND on 15 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
Kraken Futures PF_SANDUSDshort−0.1119%1h0.04192+0.053%$157K$105K25x
Hyperliquid SAND−0.0532%1h0.04186−0.107%$577K$324K5xas long as short
Variational Omni SAND−0.0369%8h0.04192+0.041%$114K$4K—as long as short
Aster SANDUSDT−0.0308%8h0.04195+0.116%$14K$16K10xas long as short
BloFin SAND-USDT−0.0238%8h0.04194+0.095%$327K$202K75xas long as short
Binance SANDUSDT−0.0211%8h0.04188−0.058%$6.7M$12.4M75xas long as short
MEXC SAND_USDT−0.0211%8h0.04188−0.048%$11.6M$1.9M200xas long as short
Extended SAND-USD−0.0208%1h0.04186−0.086%$7K$211K10xas long as short
Bitget SANDUSDT−0.0205%8h0.04183−0.167%$1.7M$549K10xas long as short
KuCoin SANDUSDTM−0.0130%8h0.04182−0.191%$2.6M$347K50xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX SAND-USDT-SWAP−0.0100%8h0.04185−0.119%$1.7M$3.2M50xas long as short
Bybit SANDUSDT−0.0026%8h0.04188−0.048%$3.5M$3.6M75xas long as short
BingX SAND-USDT−0.0020%8h0.04188−0.048%—$2.4M—as long as short
Gate SAND_USDTlong+0.0025%8h0.04190long leg$476K$649K75x
Injective SAND/USDC PERP+0.0033%1h0.04129−1.456%$757$7955.5xas long as short