Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.138%

Price spread now: KuCoin against BingX−0.102%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$258as in the Price arb table

costs, in and out, $10k−$2522.516% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 7 days−0.063%−$6 · spread now −0.102%, 7d avg −0.034%

Together, before fees−0.088%−$9 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: KuCoin is 0.068% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SAGA-USDT	0.03922	0.0100	pay 0.0050% / 4h	1h 36m	—	$2.0M	—
Short	KuCoin SAGAUSDTM	0.03918	0.0100	get 0.0050% / 4h	1h 36m	$780K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.102%Rate

Funding earned: $0
Price spread: −0.102% → −0.034%: −$6.78
Slippage, 4 orders: −$229.55
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$258.33
Costs to cover: 2.516%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; KuCoin: live order book, 5 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, 11 min ago	2.52 bp	20.4 bp −$20	51.1 bp −$511	595.6 bp −$59.6K	doesn't fit
Sell KuCoin live order book, 5 min ago	15.20 bp	101.2 bp −$101	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
Hyperliquid SAGA	−0.0084%	1h	0.03910	−0.306%	$2.2M	$282K	3x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0064%	1h	0.03907	−0.382%	$45K	$385K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03920	−0.053%	$70K	$801K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03920	−0.063%	$19.4M	$106.6M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03921	−0.020%	$3.9M	$14.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03930	+0.204%	$6.0M	$7.9M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03919	−0.076%	$2.5M	$4.9M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.03918	−0.102%	$780K	$2.6M	20x
BingX SAGA-USDTlong	+0.0100%	4h	0.03922	long leg	—	$2.0M	—
Extended SAGA-USD	+0.0104%	1h	0.03918	−0.105%	$5K	$130K	5x	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	+0.0130%	4h	0.03949	+0.688%	$4K	$53K	—	as long as short
Kraken Futures PF_SAGAUSD	+0.0133%	1h	0.03917	−0.116%	$69K	$641K	20x	as long as short
BloFin SAGA-USDT	+0.0148%	4h	0.03915	−0.178%	$1.0M	$238K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0771%	1h	0.03922	0.000%	$3K	$28	10x	as long as short