Live data
The Sandbox (SAND) perpetual futures
Live funding rates, open interest, and measured trade costs for The Sandbox. 7 venues in the PerpFinder venue map list SAND perps.
At a glance
This SAND funding snapshot covers 1 venue: Hyperliquid. It is the server-rendered page seed, not the venue total; the live funding panel below covers every venue that lists SAND.
- Highest annualized funding
- +10.95%Hyperliquid
More
Hyperliquid carries the only SAND annualized funding rate in this snapshot at +10.95%.
Only Hyperliquid reports open interest of the 1 listed venue, so there is no executable spread.
Hyperliquid reports $368.4k of open interest across the venues in this snapshot that publish it.
The SAND price in this snapshot comes from Hyperliquid at $0.0402.
Generated from live venue feeds at
Open on dYdXFunding rates
Annualized rates across exchanges
HyperliquidDEXOpen interest
Per-exchange open interest
HyperliquidLong/short ratio
Account-level positioning
Long/short ratios are published for BTC, ETH, SOL, and XRP only.
Cost comparison
Fee plus slippage for a $100K trade
The order-book cost engine measures BTC, ETH, SOL, XRP, BNB, DOGE and HYPE. SAND is not measured. Live costs for the measured assets are on the cost comparison tool.
Where to Trade The Sandbox (SAND) Perpetual Futures
6 of the 7 venues that list SAND perps have a PerpFinder review page. The table compares fees, leverage, and features for those 6.
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.
Trading Tips for The Sandbox Perps
SAND and MANA are highly correlated metaverse tokens. When one diverges from the other, the spread tends to revert within days. Use SAND/MANA spread trades to capture metaverse sector alpha without taking directional market risk.
Frequently Asked Questions — The Sandbox (SAND)
What is the current SAND perpetual futures funding rate?
The live The Sandbox (SAND) funding-rate panel updates every 2 minutes. It shows annualized rates for each exchange that lists SAND perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.
Which exchange has the lowest SAND perp trading fees?
Among 5 tracked SAND venues with comparable order-book schedules, DESK lists the lowest taker fee at 0.017%. SynFutures lists 0.020%. 1 position-fee venue is excluded from this maker/taker result. Use the cost comparison for total cost.
How does The Sandbox open interest compare across exchanges?
The The Sandbox (SAND) open-interest chart shows the total value of outstanding SAND derivative contracts on each exchange. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.
What does the SAND long/short ratio indicate?
The The Sandbox long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.
Where can I trade SAND perpetual futures?
The Sandbox (SAND) perps are listed on 6 exchanges, including dYdX, Gains Network, Bluefin, SynFutures, and DESK, plus 1 more. The "Where to Trade The Sandbox (SAND) Perpetual Futures" section compares fees and leverage limits and gives a direct trading link for each venue.
Category: Metaverse · Data updates every 2 minutes · All rates shown are annualized