Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0374%/8h= +41.0% APRpaid last 24h −0.155%

Price spread now: Coinbase International against BloFin−0.195%58s7-day average −1.311% · you buy dearer than you sell

Net, funding: paid 7d − costs−$855as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$4044.037% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−4.513%−$451 on $10k

Price spread, last 4 days (all we have)+2.430%+$243 · spread now −0.195%, 7d avg −1.311%

Together, before fees−2.083%−$208 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 1.116% dearer against BloFin than usual: you sell high and buy low: +$112 more if the spread goes back to its 7-day average of −1.311%. Mind the row above: over the last 7 days funding on this pair cost −4.513%, so the current rate has only just turned in your favour. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SAGA-USDT	0.04108	0.0066	pay 0.0033% / 4h	3h 13m	$1.0M	$280K	20x
Short	Coinbase International SAGA-PERP-INTX	0.04100	0.0440	get 0.0055% / 1h	13m 48s	$41K	$371K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.195%Rate

Funding earned: $78.56
Price spread: −0.195% → −1.311%: $111.59
Slippage, 4 orders: −$381.67
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$213.52
Costs to cover: 4.037%
Break-even: 26.0 days

Slippage from BloFin: live order book, 3 min ago; Coinbase International: live order book, 19 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 BloFin live order book, 3 min ago	7.29 bp	28.5 bp −$28	71.4 bp −$714	doesn't fit	doesn't fit
Sell Coinbase International live order book, 19 min ago	19.27 bp	96.5 bp −$96	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	−0.0861%	1h	0.04068	−0.965%	$77K	$513K	20x	as long as short
KuCoin SAGAUSDTM	+0.0052%	4h	0.04079	−0.706%	$817K	$2.6M	20x	as long as short
BloFin SAGA-USDTlong	+0.0066%	4h	0.04108	long leg	$1.0M	$280K	20x
Hyperliquid SAGA	+0.0100%	1h	0.04071	−0.901%	$2.2M	$239K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04077	−0.746%	$75K	$646K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04069	−0.953%	$19.9M	$93.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04073	−0.842%	$4.0M	$14.9M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04090	−0.438%	$6.2M	$7.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04072	−0.876%	$2.7M	$4.4M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04083	−0.609%	—	$1.9M	—	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	0.04114	+0.151%	$4K	$34K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04086	−0.541%	$344	$188K	5x	as long as short
Coinbase International SAGA-PERP-INTXshort	+0.0440%	1h	0.04100	−0.195%	$41K	$371K	25x
Deribit SAGA_USDC-PERPETUAL	+0.0732%	1h	0.04077	−0.755%	$3K	$124	10x	as long as short