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 −0.019%

Price spread now: Variational Omni against Bybit+0.411%7-day average −0.165% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.411%, 7d avg −0.165%

Together, before fees−0.037%+ Points / potential airdropVariational Omni: Active · farm board−$4 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: Variational Omni is 0.576% dearer against Bybit than usual: you sell high and buy low, +$58 on $10k if it goes back to its 7-day average of −0.165%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.03940	0.0100	pay 0.0050% / 4h	27m 42s	$3.8M	$18.6M	20x
Short	Variational Omni SAGA	0.03956	0.0100	get 0.0050% / 4h	27m 42s	$4K	$113K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.411%Rate

Funding earned: $0
Price spread: +0.411% → −0.165%: $57.63
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $46.63
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 51 min ago. Net counts fees only.

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	1.27 bp	38.9 bp −$39	132.1 bp −$1,321	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 51 min ago	5.09 bp	doesn't fit	132.3 bp −$1,323	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	−0.0762%	1h	0.03933	−0.188%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03934	−0.160%	$48K	$436K	25x	as long as short
KuCoin SAGAUSDTM	+0.0042%	4h	0.03939	−0.033%	$818K	$3.1M	20x	as long as short
BloFin SAGA-USDT	+0.0090%	4h	0.03943	+0.069%	$992K	$431K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03934	−0.160%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03942	+0.032%	$71K	$900K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03937	−0.072%	$19.5M	$135.7M	20x	as long as short
Bybit SAGAUSDTlong	+0.0100%	4h	0.03940	long leg	$3.8M	$18.6M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03962	+0.551%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03935	−0.135%	$2.7M	$6.1M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0100%	4h	0.03952	+0.297%	—	$2.2M	—	as long as short
Variational Omni SAGAshort	+0.0100%	4h	0.03956	+0.411%	$4K	$113K	—
Extended SAGA-USD	+0.0104%	1h	0.03940	−0.001%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0765%	1h	0.03943	+0.069%	$3K	$28	10x	as long as short