Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.048%

Price spread now: MEXC against Bybit−0.160%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1041.040% of the position

Long on Bybit Short on MEXC

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+0.010%+$1 · spread now −0.160%, 7d avg −0.077%

Together, before fees−0.031%−$3 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: MEXC is 0.083% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.03879	0.0100	pay 0.0050% / 4h	1h 30m	$3.7M	$14.6M	20x
Short	MEXC SAGA_USDT	0.03873	0.0100	get 0.0050% / 4h	1h 30m	$2.7M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → −0.077%: −$8.29
Slippage, 4 orders: −$89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$112.29
Costs to cover: 1.040%
Break-even: never at this rate

Slippage from Bybit: live order book, 11 min ago; MEXC: live order book, 10 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, 11 min ago	0.13 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 10 min ago	1.27 bp	13.4 bp −$13	92.2 bp −$922	671.0 bp −$67.1K	doesn't fit

SAGA on 14 exchanges

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	−0.0866%	1h	0.03870	−0.227%	$72K	$465K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03873	−0.160%	$2.1M	$204K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03876	−0.082%	$59K	$571K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03876	−0.082%	$18.7M	$86.7M	20x	as long as short
Bybit SAGAUSDTlong	+0.0100%	4h	0.03879	long leg	$3.7M	$14.6M	20x
MEXC SAGA_USDTshort	+0.0100%	4h	0.03873	−0.160%	$2.7M	$4.0M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03871	−0.211%	$739K	$2.4M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03877	−0.057%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03902	+0.597%	$4K	$32K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03872	−0.191%	$2K	$181K	5x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0142%	4h	0.03864	−0.392%	$974K	$251K	20x	as long as short
Gate SAGA_USDT	+0.0264%	4h	0.03885	+0.150%	$5.9M	$6.8M	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.03861	−0.469%	$38K	$325K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0785%	1h	0.03868	−0.289%	$3K	$124	10x	as long as short