Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.312%

Price spread now: Binance against Coinbase International+0.469%7-day average +1.395% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$550as in the Price arb table

costs, in and out, $10k−$4574.570% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+4.550%+$455 on $10k

Price spread, last 4 days (all we have)−1.123%−$112 · spread now +0.469%, 7d avg +1.395%

Together, before fees+3.427%+$343 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.925% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.469% now, against its 7-day average of +1.395%). If the spread goes back, that is −$93 on $10k: about 5 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+4.550% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.03874	0.0080	pay 0.0010% / 1h	2m 37s	$44K	$382K	25x
Short	Binance SAGAUSDT	0.03892	0.0100	get 0.0050% / 4h	2m 37s	$19.2M	$100.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.469%Rate

Funding earned: $4.2
Price spread: +0.469% → +1.395%: −$92.54
Slippage, 4 orders: −$437.04
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$545.38
Costs to cover: 4.570%
Break-even: 916.0 days

Slippage from Coinbase International: live order book, 55 min ago; Binance: 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 Coinbase International live order book, 55 min ago	48.22 bp	265.3 bp −$265	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	1.29 bp	24.1 bp −$24	98.7 bp −$987	712.8 bp −$71.3K	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	−0.0265%	1h	0.03879	+0.138%	$69K	$642K	20x	as long as short
Hyperliquid SAGA	−0.0157%	1h	0.03870	−0.103%	$2.1M	$261K	3x	as long as short
Coinbase International SAGA-PERP-INTXlong	+0.0080%	1h	0.03874	long leg	$44K	$382K	25x
Aster SAGAUSDT	+0.0100%	4h	0.03887	+0.327%	$69K	$768K	5x	as long as short
Binance SAGAUSDTshort	+0.0100%	4h	0.03892	+0.469%	$19.2M	$100.4M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03909	+0.903%	$5.9M	$7.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03887	+0.336%	$2.5M	$4.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03891	+0.439%	$740K	$2.6M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03892	+0.471%	$5K	$133K	5x	as long as short
BloFin SAGA-USDT	+0.0104%	4h	0.03893	+0.490%	$983K	$211K	20x	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	+0.0111%	4h	0.03894	+0.516%	—	$2.0M	—	as long as short
Bybit SAGAUSDT	+0.0141%	4h	0.03895	+0.537%	$3.8M	$14.3M	20x	as long as short
Variational Omni SAGA	+0.0197%	4h	0.03913	+1.006%	$4K	$45K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1555%	1h	0.03885	+0.284%	$3K	$28	10x	as long as short