Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.047%

Price spread now: Extended against BingX−0.324%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1331.333% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)+0.350%+$35 · spread now −0.324%, 7d avg +0.012%

Together, before fees+0.305%+ Points / potential airdropExtended: Active · farm board+$31 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: Extended is 0.336% cheaper against BingX than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SAGA-USDT	0.03958	0.0100	pay 0.0050% / 4h	28m 32s	—	$2.2M	—
Short	Extended SAGA-USD	0.03945	0.0104	get 0.0013% / 1h	28m 32s	$3K	$159K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BingX. 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 BingXbpFee ExtendedbpOrdersPrice spread, now −0.324%Rate

Funding earned: $0.84
Price spread: −0.324% → +0.012%: −$33.62
Slippage, 4 orders: −$118.29
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$166.07
Costs to cover: 1.333%
Break-even: 1390.9 days

Slippage from BingX: live order book, 4 min ago; Extended: live order book, 47 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 BingX live order book, 4 min ago	1.27 bp	22.8 bp −$23	76.2 bp −$762	604.2 bp −$60.4K	doesn't fit
Sell Extended live order book, 47 min ago	5.53 bp	38.3 bp −$38	307.4 bp −$3,074	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	0.03936	−0.562%	$71K	$723K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03934	−0.606%	$49K	$435K	25x	as long as short
KuCoin SAGAUSDTM	+0.0042%	4h	0.03949	−0.227%	$820K	$3.1M	20x	as long as short
BloFin SAGA-USDT	+0.0090%	4h	0.03943	−0.379%	$992K	$431K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03939	−0.480%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03948	−0.249%	$71K	$900K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03948	−0.251%	$19.5M	$135.8M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03950	−0.207%	$3.8M	$18.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03963	+0.126%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03944	−0.354%	$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-USDTlong	+0.0100%	4h	0.03958	long leg	—	$2.2M	—
Variational Omni SAGA	+0.0100%	4h	0.03956	−0.038%	$4K	$113K	—	as long as short
Extended SAGA-USDshort	+0.0104%	1h	0.03945	−0.324%	$3K	$159K	5x
Deribit SAGA_USDC-PERPETUAL	+0.0767%	1h	0.03939	−0.480%	$3K	$28	10x	as long as short