Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.756%

Price spread now: Coinbase International against Binance−0.052%7-day average −1.469% · you buy dearer than you sell

Net, funding: paid 7d − costs−$835as in the Funding arb table

Net, price: spread back to 7d avg − costs−$236as in the Price arb table

costs, in and out, $10k−$3783.779% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−4.567%−$457 on $10k

Price spread, last 3 days (all we have)+0.654%+$65 · spread now −0.052%, 7d avg −1.469%

Together, before fees−3.913%−$391 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 1.417% dearer against Binance than usual: you sell high and buy low (spread −0.052% now, against its 7-day average of −1.469%): +$142 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 23 days. At the pace of the last 7 days (−4.567% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SAGAUSDT	0.03921	0.0100	pay 0.0050% / 4h	3m 33s	$19.4M	$133.6M	20x
Short	Coinbase International SAGA-PERP-INTX	0.03919	−0.0104	pay 0.0013% / 1h	3m 33s	$48K	$434K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$42.84
Price spread: −0.052% → −1.469%: $141.68
Slippage, 4 orders: −$357.93
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$279.09
Costs to cover: 3.779%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Coinbase International: live order book, 9 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, 9 min ago	1.27 bp	19.4 bp −$19	112.7 bp −$1,127	doesn't fit	doesn't fit
Sell Coinbase International live order book, 9 min ago	50.89 bp	112.4 bp −$112	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	−0.0766%	1h	0.03911	−0.255%	$70K	$713K	20x	as long as short
Coinbase International SAGA-PERP-INTXshort	−0.0104%	1h	0.03919	−0.052%	$48K	$434K	25x
KuCoin SAGAUSDTM	−0.0020%	4h	0.03922	+0.024%	$775K	$3.1M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03913	−0.205%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03924	+0.074%	$71K	$895K	5x	as long as short
Binance SAGAUSDTlong	+0.0100%	4h	0.03921	long leg	$19.4M	$133.6M	20x
Bybit SAGAUSDT	+0.0100%	4h	0.03927	+0.139%	$3.8M	$18.3M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03938	+0.432%	$6.0M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03921	−0.001%	$2.6M	$6.1M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03923	+0.050%	—	$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	0.03925	+0.109%	$4K	$110K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03922	+0.037%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0134%	4h	0.03917	−0.103%	$988K	$405K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0516%	1h	0.03919	−0.052%	$3K	$28	10x	as long as short