Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.836%

Price spread now: Coinbase International against Aster+0.117%7-day average −1.473% · 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−$261as in the Price arb table

costs, in and out, $10k−$4204.202% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−3.588%−$359 on $10k

Price spread, last 3 days (all we have)+0.342%+$34 · spread now +0.117%, 7d avg −1.473%

Together, before fees−3.246%+ Points / potential airdropAster: Stage 5 · farm board−$325 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 1.591% dearer against Aster than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of −1.473%): +$159 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 14 days. At the pace of the last 5 days (−3.588% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.04016	0.0100	pay 0.0050% / 4h	2h 39m	$68K	$982K	5x
Short	Coinbase International SAGA-PERP-INTX	0.04021	−0.0288	pay 0.0036% / 1h	39m 16s	$52K	$452K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$81.48
Price spread: +0.117% → −1.473%: $159.07
Slippage, 4 orders: −$402.19
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$342.6
Costs to cover: 4.202%
Break-even: never at this rate

Slippage from Aster: live order book, 44 min ago; Coinbase International: live order book, 48 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, 44 min ago	13.34 bp	32.2 bp −$32	231.6 bp −$2,316	doesn't fit	doesn't fit
Sell Coinbase International live order book, 48 min ago	58.34 bp	132.3 bp −$132	doesn't fit	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
Hyperliquid SAGA	−0.1235%	1h	0.04006	−0.256%	$2.2M	$344K	3x	as long as short
Coinbase International SAGA-PERP-INTXshort	−0.0288%	1h	0.04021	+0.117%	$52K	$452K	25x
BloFin SAGA-USDT	+0.0044%	4h	0.04029	+0.317%	$1.0M	$532K	20x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.04016	long leg	$68K	$982K	5x
Binance SAGAUSDT	+0.0100%	4h	0.04029	+0.312%	$20.1M	$148.2M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04037	+0.513%	$3.9M	$20.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04022	+0.142%	$6.2M	$9.4M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04025	+0.217%	$2.9M	$6.7M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04021	+0.117%	$918K	$3.2M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04031	+0.366%	—	$2.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.04032	+0.379%	$3K	$159K	5x	as long as short
Variational Omni SAGA	+0.0187%	4h	0.03989	−0.685%	$6K	$113K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0743%	1h	0.04033	+0.416%	$3K	$28	10x	as long as short
Kraken Futures PF_SAGAUSD	+0.0922%	1h	0.04029	+0.314%	$82K	$724K	20x	as long as short