Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.026%

Price spread now: Extended against KuCoin+0.187%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$990.987% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)−0.260%−$26 · spread now +0.187%, 7d avg +0.011%

Together, before fees−0.461%+ Points / potential airdropExtended: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.176% dearer against KuCoin than usual: you sell high and buy low (spread +0.187% now, against its 7-day average of +0.011%): +$18 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SANDUSDTM	0.04121	−0.0096	get 0.0096% / 8h	4h 40m	$2.5M	$368K	50x
Short	Extended SAND-USD	0.04129	−0.0168	pay 0.0021% / 1h	40m 08s	$3K	$173K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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

Position, each leg$Hold fordaysFee KuCoinbpFee ExtendedbpOrdersPrice spread, now +0.187%Rate

Funding earned: −$15.12
Price spread: +0.187% → +0.011%: $17.6
Slippage, 4 orders: −$81.74
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$96.27
Costs to cover: 0.987%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Extended: live order book, 16 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 KuCoin live order book, 2 min ago	3.64 bp	32.3 bp −$32	133.5 bp −$1,335	doesn't fit	doesn't fit
Sell Extended live order book, 16 min ago	2.78 bp	12.3 bp −$12	110.7 bp −$1,107	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
Variational Omni SAND	−0.0359%	8h	0.04121	−0.006%	$113K	$4K	—	as long as short
Aster SANDUSDT	−0.0281%	8h	0.04133	+0.293%	$13K	$16K	10x	as long as short
Binance SANDUSDT	−0.0169%	8h	0.04126	+0.121%	$6.5M	$12.3M	75x	as long as short
MEXC SAND_USDT	−0.0169%	8h	0.04127	+0.146%	$11.8M	$1.8M	200x	as long as short
Extended SAND-USDshort	−0.0168%	1h	0.04129	+0.187%	$3K	$173K	10x
BloFin SAND-USDT	−0.0165%	8h	0.04124	+0.073%	$322K	$215K	75x	as long as short
Gate SAND_USDT	−0.0161%	8h	0.04132	+0.267%	$463K	$627K	75x	as long as short
Bitget SANDUSDT	−0.0107%	8h	0.04122	+0.024%	$1.7M	$549K	10x	as long as short
KuCoin SANDUSDTMlong	−0.0096%	8h	0.04121	long leg	$2.5M	$368K	50x
Bybit SANDUSDT	−0.0032%	8h	0.04127	+0.146%	$3.4M	$3.4M	75x	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-SWAP	+0.0002%	8h	0.04125	+0.097%	$1.6M	$3.1M	50x	as long as short
BingX SAND-USDT	+0.0014%	8h	0.04126	+0.121%	—	$2.4M	—	as long as short
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	+0.194%	$757	$795	5.5x	as long as short
Hyperliquid SAND	+0.0051%	1h	0.04122	+0.022%	$567K	$327K	5x	as long as short
Kraken Futures PF_SANDUSD	+0.0501%	1h	0.04126	+0.112%	$154K	$106K	25x	as long as short