Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.199%

Price spread now: Hyperliquid against Binance+0.026%7-day average −0.158% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$1051.052% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.878%−$88 on $10k

Price spread, last 7 days−0.016%−$2 · spread now +0.026%, 7d avg −0.158%

Together, before fees−0.895%+ Points / potential airdropHyperliquid: Season 2 · farm board−$89 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 0.183% dearer against Binance than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SAGAUSDT	0.03894	0.0100	pay 0.0050% / 4h	1h 44m	$19.3M	$142.4M	20x
Short	Hyperliquid SAGA	0.03895	0.0100	get 0.0013% / 1h	44m 14s	$2.2M	$342K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → −0.158%: $18.34
Slippage, 4 orders: −$86.2
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$86.86
Costs to cover: 1.052%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Hyperliquid: live order book, 7 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, 14 min ago	1.31 bp	21.6 bp −$22	148.2 bp −$1,482	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.28 bp	10.9 bp −$11	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
Coinbase International SAGA-PERP-INTX	−0.0168%	1h	0.03881	−0.334%	$49K	$440K	25x	as long as short
BloFin SAGA-USDT	+0.0083%	4h	0.03928	+0.873%	$973K	$461K	20x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03895	+0.026%	$2.2M	$342K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03904	+0.257%	$74K	$963K	5x	as long as short
Binance SAGAUSDTlong	+0.0100%	4h	0.03894	long leg	$19.3M	$142.4M	20x
Bybit SAGAUSDT	+0.0100%	4h	0.03893	−0.026%	$3.7M	$19.7M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03920	+0.668%	$6.0M	$9.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03894	0.000%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03907	+0.334%	$873K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03898	+0.103%	—	$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	0.03933	+0.997%	$6K	$112K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03892	−0.045%	$3K	$159K	5x	as long as short
Kraken Futures PF_SAGAUSD	+0.0185%	1h	0.03887	−0.173%	$71K	$729K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0779%	1h	0.03892	−0.051%	$3K	$28	10x	as long as short