Funding you earn now, next payment 16:00 UTC−0.0220%/8h= −24.1% APRnext payment −$2.20 per $10,000 · paid last 24h −0.050%
Price spread now: Binance against OKX+0.024%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$650.651% of the position
Funding, last 7 days−0.123%−$12 on $10k
+Price spread, last 7 days−0.005%$0 · spread now +0.024%, 7d avg −0.016%
=The price spread pays, funding is against you. Binance is 0.039% dearer against OKX than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.016%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.123% in total) that is about 2.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.123% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.20 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX SAND-USDT-SWAP | 0.04224 | −0.0369 | get 0.0369% / 8h | 5h 56m | $1.6M | $3.0M | 50x |
| Short | Binance SANDUSDT | 0.04225 | −0.0589 | pay 0.0589% / 8h | 5h 56m | $7.0M | $13.4M | 75x |
OKX SAND-USDT-SWAP
Binance SANDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against OKX. 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
- −$46.28
- Price spread: +0.024% → −0.016%
- $3.95
- Slippage, 4 orders
- −$45.1
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$107.44
- Costs to cover
- 0.651%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Binance: live order book, 6 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 OKX live order book, 3 min ago | 1.18 bp | 15.6 bp −$16 | 882.2 bp −$8,822 | doesn't fit | doesn't fit |
| Sell Binance live order book, 6 min ago | 1.18 bp | 13.8 bp −$14 | 28.4 bp −$284 | 219.1 bp −$21.9K | doesn't fit |
SAND on 15 exchanges
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 | −0.0680% | 8h | 0.04226 | +0.036% | $116K | $652 | — | as long as short |
| Aster SANDUSDT | −0.0655% | 8h | 0.04230 | +0.142% | $14K | $16K | 10x | as long as short |
| Extended SAND-USD | −0.0592% | 1h | 0.04223 | −0.019% | $3K | $221K | 10x | as long as short |
| Binance SANDUSDTshort | −0.0589% | 8h | 0.04225 | +0.024% | $7.0M | $13.4M | 75x | |
| MEXC SAND_USDT | −0.0588% | 8h | 0.04226 | +0.047% | $11.1M | $1.7M | 200x | as long as short |
| BloFin SAND-USDT | −0.0572% | 8h | 0.04226 | +0.047% | $339K | $152K | 75x | as long as short |
| Bybit SANDUSDT | −0.0451% | 8h | 0.04225 | +0.024% | $3.6M | $4.0M | 75x | as long as short |
| Hyperliquid SAND | −0.0443% | 1h | 0.04224 | +0.009% | $581K | $296K | 5x | as long as short |
| Gate SAND_USDT | −0.0439% | 8h | 0.04223 | −0.024% | $503K | $535K | 75x | as long as short |
| KuCoin SANDUSDTM | −0.0398% | 8h | 0.04222 | −0.047% | $2.6M | $397K | 50x | as long as short |
Variational Omni SAND
Aster SANDUSDT
Extended SAND-USD
MEXC SAND_USDT
BloFin SAND-USDT
Bybit SANDUSDT
Hyperliquid SAND
Gate SAND_USDT
KuCoin SANDUSDTMShow all 15 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SAND-USDT-SWAPlong | −0.0369% | 8h | 0.04224 | long leg | $1.6M | $3.0M | 50x | |
| Bitget SANDUSDT | −0.0327% | 8h | 0.04220 | −0.095% | $1.8M | $492K | 10x | as long as short |
| BingX SAND-USDT | −0.0230% | 8h | 0.04225 | +0.024% | — | $2.4M | — | as long as short |
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −2.249% | $757 | $795 | 5.5x | as long as short |
| Kraken Futures PF_SANDUSD | +0.0149% | 1h | 0.04237 | +0.306% | $161K | $105K | 25x | as long as short |
Bitget SANDUSDT
BingX SAND-USDT
Injective SAND/USDC PERP
Kraken Futures PF_SANDUSD