Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.054%

Price spread now: Aster against Bybit+0.130%7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1431.431% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now +0.130%, 7d avg −0.085%

Together, before fees−0.085%+ Points / potential airdropAster: Stage 5 · farm board−$8 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: Aster is 0.215% dearer against Bybit than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.03886	0.0100	pay 0.0050% / 4h	1h 39m	$3.7M	$19.6M	20x
Short	Aster SAGAUSDT	0.03891	0.0100	get 0.0050% / 4h	1h 39m	$74K	$963K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.130%Rate

Funding earned: $0
Price spread: +0.130% → −0.085%: $21.47
Slippage, 4 orders: −$124.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$121.64
Costs to cover: 1.431%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Aster: live order book, 38 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 Bybit live order book, 4 min ago	1.16 bp	39.1 bp −$39	140.4 bp −$1,404	doesn't fit	doesn't fit
Sell Aster live order book, 38 min ago	17.87 bp	35.2 bp −$35	264.3 bp −$2,643	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
Coinbase International SAGA-PERP-INTX	−0.0168%	1h	0.03873	−0.324%	$49K	$439K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03880	−0.144%	$2.2M	$342K	3x	as long as short
Aster SAGAUSDTshort	+0.0100%	4h	0.03891	+0.130%	$74K	$963K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03890	+0.121%	$19.3M	$142.1M	20x	as long as short
Bybit SAGAUSDTlong	+0.0100%	4h	0.03886	long leg	$3.7M	$19.6M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03900	+0.371%	$6.0M	$9.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03883	−0.067%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03893	+0.190%	$878K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03886	+0.010%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03889	+0.088%	$6K	$112K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03884	−0.039%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0107%	4h	0.03883	−0.067%	$989K	$455K	20x	as long as short
Kraken Futures PF_SAGAUSD	+0.0185%	1h	0.03879	−0.177%	$71K	$728K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0521%	1h	0.03893	+0.190%	$3K	$28	10x	as long as short