SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0580%/8h= −63.5% APRnext payment −$2.90 per $10,000 · paid last 24h −0.057%

Price spread now: Binance against Bybit−0.140%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1361.357% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.140%, 7d avg −0.081%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Binance is 0.059% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.081%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.041% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.90 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.04007	0.0680	pay 0.0340% / 4h	2h 38m	$3.9M	$14.2M	20x
Short	Binance SAGAUSDT	0.04001	0.0100	get 0.0050% / 4h	2h 38m	$19.7M	$96.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.140%Rate

Funding earned: −$121.72
Price spread: −0.140% → −0.081%: −$5.94
Slippage, 4 orders: −$114.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$263.32
Costs to cover: 1.357%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 4 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	1.13 bp	45.2 bp −$45	143.2 bp −$1,432	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.26 bp	27.4 bp −$27	104.6 bp −$1,046	817.0 bp −$81.7K	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	+0.0097%	1h	0.03985	−0.548%	$74K	$617K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03966	−1.011%	$2.2M	$254K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03996	−0.262%	$69K	$732K	5x	as long as short
Binance SAGAUSDTshort	+0.0100%	4h	0.04001	−0.140%	$19.7M	$96.5M	20x
Gate SAGA_USDT	+0.0100%	4h	0.04010	+0.087%	$6.0M	$7.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04002	−0.112%	$2.6M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04000	−0.162%	$769K	$2.5M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04000	−0.166%	$5K	$195K	5x	as long as short
BloFin SAGA-USDT	+0.0157%	4h	0.03984	−0.562%	$1.0M	$207K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0176%	1h	0.04035	+0.711%	$45K	$384K	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	+0.0639%	4h	0.03982	−0.605%	$4K	$44K	—	as long as short
Bybit SAGAUSDTlong	+0.0680%	4h	0.04007	long leg	$3.9M	$14.2M	20x
BingX SAGA-USDT	+0.0682%	4h	0.03998	−0.212%	—	$1.9M	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1254%	1h	0.03995	−0.287%	$3K	—	10x	as long as short