A new free APK analyzer entered the market in the last few weeks. http://apkscan.nviso.be/ does an epic job of dynamically analyzing an Android app and returning useful information for determining whether an app is safe or not.
I submitted a sample called Tank.apk (a known malware) and it came back with this:
As you can see it came back with useful results including a list of websites it hits. This is still just in beta version and promises more dynamic analysis in the future. I would recommend using this over other free competitors on the market just for it's speed and ease of use alone.
Stay safe out there