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SAND — funding rate on Hyperliquid
Hyperliquid · SAND+0.001%per 1h · +0.001%/hshorts receive
last settlement-0.005%→upcoming payout+0.001%• unchanged
41:34settlement
0calmheat
Price (mark)
0.042559
+1.9% 24h
Vol 24h
$248K
Open interest
$737K
Price move in 2 min
—
avg 7d
-0.002%/h
avg 30d
-0.008%/h
Price and skew
Event life curvePRO · open for now
Across 6 closed events of this pair: a typical one lives 6h 41m, the peak usually lands at minute 105–110
median across 6 eventsmedian peak minute
at later minutes only long-livers remain in the sample — the curve is conditional, not «acceleration»
How they ended: funding covered the adverse price move in 4 of 6 cases
median accrued 1.00%; in at least half the events price moved in the receiver's favour
Entry economics
Position calculator
- Position size
- $2,500
- Funding per settlement (1h)
- $0.03 · $0.03/hour
- Net snipe per settlement
- $-3.97 = 0.001% − 0.110% − 0.050%
- Break-even for entry
- rate covers the threshold 0.01×needs 0.160%+ per settlement
- Liquidation price
- 0.050858 (+19.50% from price)
- Risk at this leverage
- no volatility data
- Max “green” leverage
- —
Funding goes to whoever holds the position at the cut-off. MMR in the liquidation formula is +0.50%; verify the price on the exchange before trading.
Settlement window · facts (30)
before cut-off · 5m · the snipe window (30)
avg+0.69% | -0.69%
max-4.26%
after · 5m
avg+0.60% | -0.54%
max-1.43%
before cut-off · 15m
avg+0.83% | -1.28%
max-4.69%
after · 15m
avg+1.05% | -0.88%
max+3.35%
| Cut-off | Rate | Before | After |
|---|---|---|---|
| 19.10 08:00 | -0.076% | -1.62% | -0.63% |
| 19.10 07:00 | -0.084% | -0.49% | -0.21% |
| 19.10 06:00 | -0.096% | +0.65% | -0.31% |
| 19.10 05:00 | -0.137% | -0.93% | -1.38% |
| 19.10 04:00 | -0.179% | +0.14% | +0.24% |
Settlement profilePRO · open for now
How this pair's price behaves around the payout — averaged over 30 settlements
average across settlementsspread: worst … best outcome
Context and comparison
Funding history · 750 settlements
SAND on 5 exchanges
| Exchange | Rate | Per hour | Receives | Snipe |
|---|---|---|---|---|
| Bitget | +0.010% / 8h | +0.001%/h | shorts | -0.150% |
| Hyperliquid ← you are here | +0.001% / 1h | +0.001%/h | shorts | -0.159% |
| OKX | -0.004% / 4h | -0.001%/h | longs | -0.156% |
| Bybit | +0.004% / 8h | +0.001%/h | shorts | -0.156% |
| Binance | +0.001% / 8h | 0.000%/h | shorts | -0.159% |
Bitget+0.001%/h
shortsrate +0.010% / 8hsnipe -0.150%
Hyperliquid← you are here+0.001%/h
shortsrate +0.001% / 1hsnipe -0.159%
OKX-0.001%/h
longsrate -0.004% / 4hsnipe -0.156%
Bybit+0.001%/h
shortsrate +0.004% / 8hsnipe -0.156%
Binance0.000%/h
shortsrate +0.001% / 8hsnipe -0.159%
Max spread across exchanges: +0.002%/h
SAND across all exchanges: comparison & curves →Rates across exchangesPRO · open for now
5 exchanges on one timeline
Bybitevery 8hBinanceevery 8hOKXevery 4hBitgetevery 8hHyperliquidevery 1hrate corridor between exchanges
exchanges settle at different frequencies — an 8-hour step is bound to «lag» a 1-hour one, that's its grid, not a slower market
spread typically
0.0034%/h
widest spread
0.0131%/h
05.11 02:00 UTC · Binance ↔ Hyperliquid
the spread is the hedge's rate before fees: that's what an hour of the pair-trade yields
How to read this
- Snipe: enter short before the cut-off, exit after settlement. Funding goes to whoever holds the position at the cut-off. The net capture in the calculator is already net of fees and slippage — and it does not include price moving against you in the settlement window (see volatility above).
- Hedged: a short here + an opposite position of the same size on another exchange or spot — funding capture without price risk, but four legs of fees.
- Extreme funding is a crowd story: price often runs into the cut-off and reverses after. This is data for a decision, not a recommendation.