SAND / TON ratio and spread
1 SAND = 0.0287688 TON. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 1.116 and the correlation between the legs is 0.56.
If you hold SAND · If you hold TON
SAND is cheaper against TON than in 0 % of the time over 1.9 years. If you hold TON, this is worth a look at rotating into SAND.
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Key numbers
over 692 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs move together only moderately — correlation of daily log returns is 0.56, with a hedge ratio of 1.12. Signals from this pair carry more noise than on a tightly linked one.
The spread is at -1.74 standard deviations from its rolling mean: away from the norm, but not far enough to call it stretched.
Reversion is slow: the spread needs roughly 99 days to cover half the way back to its mean. A position would have to be held for a long time.
The current ratio sits near the bottom of its range — only 1% of the way from the low to the high of the last 692 daily candles.
When this happened before
Divergences over 513 candles: 4. Closed by a return to the norm: 3. The median return took 15 days, the longest one 22 days.
The last closed one ran from 26.12.2025 to 17.01.2026, 22 days: peak z = -3.10, TON was expensive against SAND.
One is running right now: it started on 05.02.2026, has lasted 145 days, peak z = -4.52, TON was expensive against SAND. It has not returned to the norm yet.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 15 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 26.12.2025 — 17.01.2026 | TON | -3.10 | 22 d |
| 20.11.2025 — 05.12.2025 | SAND | 2.46 | 15 d |
| 01.08.2025 — 08.08.2025 | TON | -2.21 | 7 d |
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many TON is 1 SAND?
1 SAND is worth 0.0287687 TON at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the SAND/TON range?
Over the last 692 daily candles the ratio traded between 0.027107 (07.05.2026) and 0.148153 (04.12.2024).
Are SAND and TON correlated?
The correlation of daily log returns between SAND and TON is 0.56, which counts as a moderate link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the SAND/TON spread z-score now?
The z-score is -1.74 — the spread is within its usual range. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is SAND/TON suitable for a pair trade?
The mechanics hold up: correlation is 0.56 and the spread historically covers half the way back to its mean in about 99 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do SAND and TON diverge?
Over 513 daily candles the spread left ±2σ 4 times. The median return to the norm took 15 days.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.