Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.174%

Price spread now: Hyperliquid against Aster−0.185%7-day average −0.232% · 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−$122as in the Price arb table

costs, in and out, $10k−$1271.266% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.717%−$72 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.185%, 7d avg −0.232%

Together, before fees−0.570%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$57 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: Hyperliquid is 0.047% dearer against Aster than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.232%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03943	0.0100	pay 0.0050% / 4h	37m 16s	$71K	$904K	5x
Short	Hyperliquid SAGA	0.03936	0.0100	get 0.0013% / 1h	37m 16s	$2.2M	$323K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → −0.232%: $4.75
Slippage, 4 orders: −$109.61
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$121.86
Costs to cover: 1.266%
Break-even: never at this rate

Slippage from Aster: live order book, 36 min ago; Hyperliquid: 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, 36 min ago	20.61 bp	31.9 bp −$32	211.2 bp −$2,112	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.27 bp	16.9 bp −$17	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
Kraken Futures PF_SAGAUSD	−0.0762%	1h	0.03933	−0.270%	$71K	$723K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03932	−0.286%	$49K	$435K	25x	as long as short
BloFin SAGA-USDT	+0.0048%	4h	0.03933	−0.261%	$996K	$449K	20x	as long as short
KuCoin SAGAUSDTM	+0.0090%	4h	0.03942	−0.032%	$822K	$3.1M	20x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03936	−0.185%	$2.2M	$323K	3x
Aster SAGAUSDTlong	+0.0100%	4h	0.03943	long leg	$71K	$904K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03945	+0.051%	$19.5M	$136.4M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03948	+0.132%	$3.8M	$18.7M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03955	+0.297%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03941	−0.058%	$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	0.03946	+0.069%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03920	−0.591%	$4K	$113K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03943	−0.001%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0765%	1h	0.03945	+0.044%	$3K	$28	10x	as long as short