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 +0.002%

Price spread now: MEXC against Aster−0.120%7-day average +0.025% · 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−$116as in the Price arb table

costs, in and out, $10k−$1011.015% of the position

Long on Aster Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now −0.120%, 7d avg +0.025%

Together, before fees−0.153%+ 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: MEXC is 0.145% cheaper against Aster than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03923	0.0100	pay 0.0050% / 4h	54m 59s	$74K	$910K	5x
Short	MEXC SAGA_USDT	0.03918	0.0100	get 0.0050% / 4h	54m 59s	$2.7M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.120%Rate

Funding earned: $0
Price spread: −0.120% → +0.025%: −$14.51
Slippage, 4 orders: −$89.47
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$115.99
Costs to cover: 1.015%
Break-even: never at this rate

Slippage from Aster: live order book, 18 min ago; MEXC: live order book, 8 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, 18 min ago	20.61 bp	31.9 bp −$32	211.2 bp −$2,112	doesn't fit	doesn't fit
Sell MEXC live order book, 8 min ago	1.29 bp	15.0 bp −$15	101.8 bp −$1,018	717.6 bp −$71.8K	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	−0.0765%	1h	0.03920	−0.078%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03891	−0.809%	$48K	$432K	25x	as long as short
BloFin SAGA-USDT	+0.0042%	4h	0.03921	−0.044%	$989K	$449K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03916	−0.171%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03923	long leg	$74K	$910K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03919	−0.106%	$19.4M	$137.9M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03928	+0.132%	$3.8M	$18.9M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03932	+0.236%	$6.0M	$9.1M	20x	as long as short
MEXC SAGA_USDTshort	+0.0100%	4h	0.03918	−0.120%	$2.7M	$6.1M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03925	+0.058%	$817K	$3.1M	20x	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	0.03925	+0.058%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03898	−0.625%	$6K	$112K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03922	−0.020%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1023%	1h	0.03933	+0.262%	$3K	$28	10x	as long as short