Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1456%/8h= +159.5% APRpaid last 24h +0.152%

Price spread now: Deribit against BloFin+0.204%57s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Deribit is 0.204% dearer against BloFin than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	0.03912	0.0082	pay 0.0041% / 4h	45m 54s	$994K	$214K	20x
Short	Deribit SAGA_USDC-PERPETUAL	0.03920	0.1539	get 0.0192% / 1h	45m 54s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.204%Rate

Funding earned: $305.86
Price spread: +0.204% → 0.000%: $20.45
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $307.31
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: BloFin: live order book, 26 min ago; Deribit: no order-book sample. Net counts fees only.

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, 26 min ago	11.58 bp	28.2 bp −$28	112.4 bp −$1,124	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0263%	1h	0.03911	−0.031%	$69K	$646K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03914	+0.051%	$45K	$380K	25x	as long as short
BloFin SAGA-USDTlong	+0.0082%	4h	0.03912	long leg	$994K	$214K	20x
Hyperliquid SAGA	+0.0100%	1h	0.03886	−0.665%	$2.1M	$267K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03916	+0.093%	$70K	$789K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03919	+0.186%	$19.4M	$102.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03926	+0.358%	$6.0M	$7.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03919	+0.179%	$2.6M	$4.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03917	+0.128%	$775K	$2.6M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03918	+0.161%	$2K	$129K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0144%	4h	0.03919	+0.179%	—	$2.0M	—	as long as short
Bybit SAGAUSDT	+0.0225%	4h	0.03918	+0.164%	$3.8M	$14.4M	20x	as long as short
Variational Omni SAGA	+0.0262%	4h	0.03919	+0.185%	$4K	$51K	—	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.1539%	1h	0.03920	+0.204%	$3K	$28	10x