Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.054%

Price spread now: Bybit against Aster+0.139%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1511.512% of the position

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.139%, 7d avg +0.085%

Together, before fees−0.147%+ Points / potential airdropAster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.053% dearer against Aster than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03937	0.0100	pay 0.0050% / 4h	34m 50s	$71K	$904K	5x
Short	Bybit SAGAUSDT	0.03943	0.0100	get 0.0050% / 4h	34m 50s	$3.8M	$18.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee BybitbpOrdersPrice spread, now +0.139%Rate

Funding earned: $0
Price spread: +0.139% → +0.085%: $5.33
Slippage, 4 orders: −$132.2
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$145.87
Costs to cover: 1.512%
Break-even: never at this rate

Slippage from Aster: live order book, 38 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster live order book, 38 min ago	20.61 bp	31.9 bp −$32	211.2 bp −$2,112	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.39 bp	40.9 bp −$41	117.0 bp −$1,170	doesn't fit	doesn't fit

SAGA on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SAGAUSD	−0.0762%	1h	0.03932	−0.116%	$71K	$723K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03922	−0.382%	$49K	$434K	25x	as long as short
BloFin SAGA-USDT	+0.0075%	4h	0.03945	+0.202%	$992K	$442K	20x	as long as short
KuCoin SAGAUSDTM	+0.0084%	4h	0.03937	−0.001%	$821K	$3.1M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03930	−0.179%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03937	long leg	$71K	$904K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03941	+0.100%	$19.5M	$136.2M	20x	as long as short
Bybit SAGAUSDTshort	+0.0100%	4h	0.03943	+0.139%	$3.8M	$18.7M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03955	+0.456%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03937	−0.001%	$2.7M	$6.1M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0100%	4h	0.03941	+0.100%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03938	+0.017%	$4K	$113K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03938	+0.031%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0767%	1h	0.03936	−0.027%	$3K	$28	10x	as long as short