Funding you earn now, next payment 04:00 UTC−0.0639%/8h= −70.0% APRpaid last 24h +0.005%
Price spread now: Binance against Kraken Futures−0.010%7-day average −0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$88as in the Price arb table
costs, in and out, $10k−$980.977% of the position
Funding, last 7 days+0.298%+$30 on $10k
+Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.010%, 7d avg −0.104%
=The price spread pays, funding is against you. Binance is 0.094% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.104%): +$9 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 12 hours. Mind the row above: over the last 7 days funding on this pair paid +0.298%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.298% in total (about 15.6% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SANDUSD | 0.04168 | 0.0496 | pay 0.0062% / 1h | 15m 17s | $156K | $106K | 25x |
| Short | Binance SANDUSDT | 0.04167 | −0.0143 | pay 0.0143% / 8h | 4h 15m | $6.6M | $12.4M | 75x |
Kraken Futures PF_SANDUSD
Binance SANDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$134.19
- Price spread: −0.010% → −0.104%
- $9.43
- Slippage, 4 orders
- −$77.74
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$222.51
- Costs to cover
- 0.977%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 42 min ago; Binance: live order book, 10 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, 42 min ago | 16.93 bp | 38.5 bp −$39 | 84.2 bp −$842 | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 1.20 bp | 13.2 bp −$13 | 28.4 bp −$284 | 199.6 bp −$20.0K | 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 | −0.0327% | 8h | 0.04163 | −0.114% | $114K | $4K | — | as long as short |
| Aster SANDUSDT | −0.0236% | 8h | 0.04170 | +0.055% | $14K | $16K | 10x | as long as short |
| Hyperliquid SAND | −0.0230% | 1h | 0.04165 | −0.067% | $574K | $326K | 5x | as long as short |
| BloFin SAND-USDT | −0.0158% | 8h | 0.04167 | −0.012% | $323K | $200K | 75x | as long as short |
| Extended SAND-USD | −0.0144% | 1h | 0.04166 | −0.039% | $6K | $178K | 10x | as long as short |
| Binance SANDUSDTshort | −0.0143% | 8h | 0.04167 | −0.010% | $6.6M | $12.4M | 75x | |
| MEXC SAND_USDT | −0.0141% | 8h | 0.04168 | +0.012% | $11.9M | $1.8M | 200x | as long as short |
| Bitget SANDUSDT | −0.0112% | 8h | 0.04163 | −0.108% | $1.7M | $553K | 10x | as long as short |
| KuCoin SANDUSDTM | −0.0073% | 8h | 0.04161 | −0.156% | $2.5M | $358K | 50x | as long as short |
| Gate SAND_USDT | −0.0021% | 8h | 0.04169 | +0.036% | $467K | $632K | 75x | as long as short |
Variational Omni SAND
Aster SANDUSDT
Hyperliquid SAND
BloFin SAND-USDT
Extended SAND-USD
MEXC SAND_USDT
Bitget SANDUSDT
KuCoin SANDUSDTM
Gate SAND_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAP | −0.0020% | 8h | 0.04168 | +0.012% | $1.7M | $3.2M | 50x | as long as short |
| BingX SAND-USDT | +0.0026% | 8h | 0.04166 | −0.036% | — | $2.4M | — | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −0.924% | $757 | $795 | 5.5x | as long as short |
| Bybit SANDUSDT | +0.0034% | 8h | 0.04167 | −0.012% | $3.4M | $3.5M | 75x | as long as short |
| Kraken Futures PF_SANDUSDlong | +0.0496% | 1h | 0.04168 | long leg | $156K | $106K | 25x |
OKX SAND-USDT-SWAP
BingX SAND-USDT
Injective SAND/USDC PERP
Bybit SANDUSDT