Funding you earn now, next payment 08:00 UTC−0.1758%/8h= −192.5% APRnext payment −$8.79 per $10,000 · paid last 24h −0.048%
Price spread now: BloFin against Bybit−0.765%92s7-day average −0.179% · you buy dearer than you sell
Net, funding: paid 7d − costs−$123as 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−$1201.200% of the position
Funding, last 7 days−0.033%−$3 on $10k
+Price spread, last 4 days (all we have)−0.424%−$42 · spread now −0.765%, 7d avg −0.179%
=Both sides work against this trade now: funding costs −$53 a day on $10k at the current rate, and BloFin is 0.587% cheaper against Bybit than usual: you would sell low and buy high (−$59 if the spread goes back to its 7-day average of −0.179%). Swap the legs. The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.033% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.79 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 | 0.03945 | 0.1870 | pay 0.0935% / 4h | 3h 55m | $3.9M | $14.3M | 20x |
| Short | BloFin SAGA-USDT | 0.03915 | 0.0112 | get 0.0056% / 4h | 3h 55m | $988K | $212K | 20x |
Bybit SAGAUSDT
BloFin SAGA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$369.14
- Price spread: −0.765% → −0.179%
- −$58.66
- Slippage, 4 orders
- −$97.05
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$547.85
- Costs to cover
- 1.200%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; BloFin: live order book, 26 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, 3 min ago | 0.89 bp | 40.8 bp −$41 | 137.2 bp −$1,372 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 26 min ago | 5.12 bp | 19.5 bp −$20 | 75.2 bp −$752 | 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 | −0.0710% | 1h | 0.03917 | −0.704% | $69K | $642K | 20x | as long as short |
| Hyperliquid SAGA | +0.0051% | 1h | 0.03883 | −1.577% | $2.1M | $258K | 3x | as long as short |
| Aster SAGAUSDT | +0.0100% | 4h | 0.03912 | −0.847% | $69K | $768K | 5x | as long as short |
| Binance SAGAUSDT | +0.0100% | 4h | 0.03940 | −0.139% | $19.4M | $100.2M | 20x | as long as short |
| Gate SAGA_USDT | +0.0100% | 4h | 0.03923 | −0.563% | $5.9M | $7.6M | 20x | as long as short |
| MEXC SAGA_USDT | +0.0100% | 4h | 0.03940 | −0.132% | $2.5M | $4.1M | 50x | as long as short |
| KuCoin SAGAUSDTM | +0.0100% | 4h | 0.03908 | −0.943% | $743K | $2.6M | 20x | as long as short |
| Extended SAGA-USD | +0.0104% | 1h | 0.03911 | −0.869% | $5K | $133K | 5x | as long as short |
| BloFin SAGA-USDTshort | +0.0112% | 4h | 0.03915 | −0.765% | $988K | $212K | 20x | |
| Coinbase International SAGA-PERP-INTX | +0.0248% | 1h | 0.03909 | −0.918% | $44K | $386K | 25x | as long as short |
Kraken Futures PF_SAGAUSD
Hyperliquid SAGA
Aster SAGAUSDT
Binance SAGAUSDT
Gate SAGA_USDT
MEXC SAGA_USDT
KuCoin SAGAUSDTM
Extended SAGA-USD
Coinbase International SAGA-PERP-INTXShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SAGA | +0.0273% | 4h | 0.03926 | −0.491% | $4K | $45K | — | as long as short |
| Deribit SAGA_USDC-PERPETUAL | +0.1793% | 1h | 0.03923 | −0.563% | $3K | $28 | 10x | as long as short |
| Bybit SAGAUSDTlong | +0.1870% | 4h | 0.03945 | long leg | $3.9M | $14.3M | 20x | |
| BingX SAGA-USDT | +0.3686% | 4h | 0.03913 | −0.816% | — | $2.0M | — | as long as short |
Variational Omni SAGA
Deribit SAGA_USDC-PERPETUAL
BingX SAGA-USDT