Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: Extended against Aster−0.107%7-day average +0.051% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1731.730% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.107%, 7d avg +0.051%

Together, before fees+0.019%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$2 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: Extended is 0.158% cheaper against Aster than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03838	0.0100	pay 0.0050% / 4h	1h 50m	$69K	$970K	5x
Short	Extended SAGA-USD	0.03834	0.0104	get 0.0013% / 1h	50m 57s	$3K	$159K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0.84
Price spread: −0.107% → +0.051%: −$15.8
Slippage, 4 orders: −$160.02
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$187.98
Costs to cover: 1.730%
Break-even: 1573.5 days

Slippage from Aster: live order book, 27 min ago; Extended: live order book, 30 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, 27 min ago	17.87 bp	33.7 bp −$34	262.4 bp −$2,624	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	7.12 bp	49.5 bp −$50	363.0 bp −$3,630	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
Coinbase International SAGA-PERP-INTX	−0.0168%	1h	0.03865	+0.691%	$49K	$438K	25x	as long as short
BloFin SAGA-USDT	+0.0042%	4h	0.03826	−0.326%	$981K	$463K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03830	−0.221%	$2.1M	$344K	3x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03838	long leg	$69K	$970K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03911	+1.889%	$19.4M	$143.0M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03918	+2.074%	$3.8M	$19.9M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03930	+2.384%	$6.0M	$9.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03942	+2.696%	$2.7M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03859	+0.534%	$864K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03910	+1.863%	—	$2.2M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.03826	−0.318%	$6K	$112K	—	as long as short
Extended SAGA-USDshort	+0.0104%	1h	0.03834	−0.107%	$3K	$159K	5x
Kraken Futures PF_SAGAUSD	+0.0187%	1h	0.03838	−0.021%	$76K	$718K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1053%	1h	0.03843	+0.117%	$3K	$28	10x	as long as short