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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.051%

Price spread now: BingX against Binance−0.140%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1011.011% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days+0.220%+$22 · spread now −0.140%, 7d avg +0.038%

Together, before fees+0.276%+$28 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: BingX is 0.178% cheaper against Binance than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SAGAUSDT	0.03988	0.0100	pay 0.0050% / 4h	2h 35m	$19.9M	$148.1M	20x
Short	BingX SAGA-USDT	0.03982	0.0100	get 0.0050% / 4h	2h 35m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → +0.038%: −$17.82
Slippage, 4 orders: −$81.08
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.9
Costs to cover: 1.011%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; BingX: live order book, 2 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 Binance live order book, 7 min ago	1.27 bp	21.5 bp −$22	163.0 bp −$1,630	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.49 bp	23.5 bp −$23	93.8 bp −$938	561.3 bp −$56.1K	1144.6 bp −$572.3K

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	−0.1008%	1h	0.03973	−0.366%	$2.2M	$344K	3x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0288%	1h	0.03991	+0.086%	$51K	$448K	25x	as long as short
BloFin SAGA-USDT	+0.0083%	4h	0.04029	+1.039%	$1.0M	$532K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03994	+0.153%	$66K	$982K	5x	as long as short
Binance SAGAUSDTlong	+0.0100%	4h	0.03988	long leg	$19.9M	$148.1M	20x
Bybit SAGAUSDT	+0.0100%	4h	0.03989	+0.025%	$3.9M	$20.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04000	+0.311%	$6.1M	$9.4M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03987	−0.015%	$2.9M	$6.7M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03993	+0.136%	$911K	$3.2M	20x	as long as short
BingX SAGA-USDTshort	+0.0100%	4h	0.03982	−0.140%	—	$2.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03990	+0.065%	$3K	$159K	5x	as long as short
Variational Omni SAGA	+0.0187%	4h	0.03989	+0.030%	$6K	$113K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0751%	1h	0.04000	+0.311%	$3K	$28	10x	as long as short
Kraken Futures PF_SAGAUSD	+0.0928%	1h	0.04001	+0.348%	$81K	$724K	20x	as long as short