Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.002%

Price spread now: Extended against BloFin−0.300%7-day average +0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1411.405% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+1.280%+$128 · spread now −0.300%, 7d avg +0.134%

Together, before fees+1.290%+ Points / potential airdropExtended: Active · farm board+$129 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.435% cheaper against BloFin than usual: you would sell low and buy high (spread −0.300% now, against its 7-day average of +0.134%). If the spread goes back, that is −$43 on $10k: about 34 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.011% in total) that is about 9 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SAGA-USDT	0.04029	0.0062	pay 0.0031% / 4h	3h 30m	$1.0M	$217K	20x
Short	Extended SAGA-USD	0.04017	0.0104	get 0.0013% / 1h	30m 42s	$5K	$131K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.300%Rate

Funding earned: $8.84
Price spread: −0.300% → +0.134%: −$43.46
Slippage, 4 orders: −$123.52
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$175.14
Costs to cover: 1.405%
Break-even: 145.7 days

Slippage from BloFin: live order book, 1 min ago; Extended: live order book, 20 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, 1 min ago	1.24 bp	30.1 bp −$30	125.4 bp −$1,254	doesn't fit	doesn't fit
Sell Extended live order book, 20 min ago	7.15 bp	44.0 bp −$44	302.2 bp −$3,022	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	−0.0692%	1h	0.04017	−0.292%	$75K	$636K	20x	as long as short
BloFin SAGA-USDTlong	+0.0062%	4h	0.04029	long leg	$1.0M	$217K	20x
Hyperliquid SAGA	+0.0100%	1h	0.04007	−0.546%	$2.2M	$254K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04016	−0.331%	$71K	$758K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04016	−0.322%	$19.8M	$99.1M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04034	+0.124%	$6.1M	$7.7M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04015	−0.347%	$2.6M	$4.2M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04018	−0.273%	$787K	$2.6M	20x	as long as short
Extended SAGA-USDshort	+0.0104%	1h	0.04017	−0.300%	$5K	$131K	5x
Coinbase International SAGA-PERP-INTX	+0.0248%	1h	0.04025	−0.099%	$45K	$395K	25x	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	+0.0415%	4h	0.04024	−0.133%	$4K	$45K	—	as long as short
Bybit SAGAUSDT	+0.0619%	4h	0.04018	−0.285%	$3.9M	$14.3M	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0746%	1h	0.04020	−0.223%	$3K	$28	10x	as long as short
BingX SAGA-USDT	+0.0786%	4h	0.04017	−0.298%	—	$2.0M	—	as long as short