The Sandbox (SAND) perpetual futures
SAND perpetual contracts on 6 reviewed venues.
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Funding rates
Annualized rates across exchanges
MEXCCEX
BinanceCEX
KuCoinCEX
BingXCEX
BitgetCEX
Gate.ioCEXOpen interest
Per-exchange open interest
Bybit
OKX
HyperliquidBitgetKuCoinGate.ioWhat the SAND data shows
Shorts pay longs on all 12 venues. The payment to longs is largest on Hyperliquid at -1004.25% a year and smallest on BloFin.
Bybit quoted SAND at $0.0726 and Hyperliquid at $0.0719, a gap of 90.5 bps.
No venue holds half of the $50.8m in reported SAND open interest. Bybit has the largest share, 35.1%, and OKX is next with 19.3%.
The SAND settlement periods differ: 8 venues settle every 8 hours; 3 venues settle every hour; OKX settles every 4 hours.
- Source: public APIs of 12 venues for SAND, read at October 3, 2026, 11:20 UTC.
Where to Trade The Sandbox (SAND) Perpetual Futures
Fees and leverage limits apply venue-wide; confirm SAND limits with the venue.
The Sandbox (SAND) market overview
SAND perps are the derivative counterpart to MANA in the gaming and virtual world sector. The Sandbox is a voxel-based metaverse platform on Ethereum where users create, own, and monetize gaming experiences.
SAND funds in-game transactions and LAND purchases, giving it a utility demand function on top of the speculative narrative premium. The asset's perp market reflects both of those dynamics.
Venue depth and execution
Binance, Bybit, and OKX all quote SAND perps, and Hyperliquid lists the pair on-chain.
The deepest SAND book sits on Binance, with Bybit competitive for standard position sizes; DEX perp depth is limited. Coinalyze's SAND open interest data shows SAND OI closely tracking MANA OI, with the two assets frequently moving within 5-10% of each other in percentage terms.
Brand partnerships and gaming narrative catalysts
The Sandbox has secured partnerships with recognizable brands including Adidas, Gucci, Warner Music, Atari, and The Walking Dead, among others. These partnerships create periodic announcement-driven funding spikes when a new activation or event is publicized.
The Sandbox targets gaming, and Decentraland targets art and events. The gaming audience is larger, so brand partnership news moves SAND more.
The Sandbox's news page and CoinDesk's metaverse coverage track major announcements. ALPHA season launches — periods of open public access to the game — have historically produced the most sustained SAND funding upticks, as they convert announcement interest into actual user engagement.
Shared risks with the metaverse sector
SAND shares the metaverse sector risks described for MANA: narrative sensitivity to broader Web3 adoption cycles, on-chain user engagement that remains modest relative to market cap, and correlation with macro risk sentiment.
The two assets should be monitored together using the funding rates tool — when SAND funding significantly diverges from MANA, it typically reflects a SAND-specific catalyst rather than sector rotation. Use the cost comparison tool to evaluate fee differences across venues before entering positions.
Frequently Asked Questions — The Sandbox (SAND)
What funding data is available for SAND?
12 venues report a SAND funding rate in this read.
An annualized SAND rate extrapolates one reading and does not predict a return.
What open interest data is available for SAND?
8 venues report positive SAND open interest in this read.
The SAND total leaves out venues outside the read.
Which mapped venue has the lowest recorded SAND taker fee?
DESK lists 0.017% and SynFutures lists 0.020%, the two lowest of 5 mapped SAND maker/taker schedules.
1 SAND venue charges a position fee and is not compared.
Category: Metaverse