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 −0.148%

Price spread now: KuCoin against Bybit−0.008%7-day average −0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs−$276as in the Funding arb table

Net, price: spread back to 7d avg − costs−$267as in the Price arb table

costs, in and out, $10k−$2762.758% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.008%, 7d avg −0.101%

Together, before fees−0.005%$0 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: KuCoin is 0.093% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.03921	0.0100	pay 0.0050% / 4h	43m 01s	$3.8M	$18.7M	20x
Short	KuCoin SAGAUSDTM	0.03921	0.0100	get 0.0050% / 4h	43m 01s	$817K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → −0.101%: $9.31
Slippage, 4 orders: −$252.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$266.53
Costs to cover: 2.758%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: 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, 1 min ago	1.15 bp	30.7 bp −$31	122.9 bp −$1,229	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	7.64 bp	88.9 bp −$89	doesn't fit	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	−0.0766%	1h	0.03913	−0.210%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03909	−0.314%	$49K	$434K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03911	−0.263%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03919	−0.063%	$71K	$904K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03919	−0.059%	$19.4M	$136.7M	20x	as long as short
Bybit SAGAUSDTlong	+0.0100%	4h	0.03921	long leg	$3.8M	$18.7M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03930	+0.222%	$6.0M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03914	−0.186%	$2.6M	$6.1M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.03921	−0.008%	$817K	$3.1M	20x
BingX SAGA-USDT	+0.0100%	4h	0.03914	−0.186%	—	$2.2M	—	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	+0.0100%	4h	0.03929	+0.206%	$4K	$114K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03916	−0.127%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0125%	4h	0.03918	−0.084%	$993K	$448K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1284%	1h	0.03918	−0.084%	$3K	$28	10x	as long as short