Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.839%

Price spread now: BloFin against Coinbase International+0.207%7-day average +1.507% · you sell dearer than you buy

Net, funding: paid 7d − costs+$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$460as in the Price arb table

costs, in and out, $10k−$3303.299% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+4.573%+$457 on $10k

Price spread, last 3 days (all we have)−1.865%−$186 · spread now +0.207%, 7d avg +1.507%

Together, before fees+2.708%+$271 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 1.300% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.207% now, against its 7-day average of +1.507%). If the spread goes back, that is −$130 on $10k: about 17 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+4.573% in total) that is about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.03861	−0.0168	get 0.0021% / 1h	32m 58s	$49K	$437K	25x
Short	BloFin SAGA-USDT	0.03869	0.0085	get 0.0042% / 4h	1h 32m	$999K	$450K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.207%Rate

Funding earned: $53.08
Price spread: +0.207% → +1.507%: −$129.96
Slippage, 4 orders: −$307.94
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$406.82
Costs to cover: 3.299%
Break-even: 60.7 days

Slippage from Coinbase International: live order book, 50 min ago; BloFin: live order book, 34 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, 50 min ago	25.38 bp	176.5 bp −$176	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 34 min ago	2.63 bp	22.8 bp −$23	58.5 bp −$585	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
Coinbase International SAGA-PERP-INTXlong	−0.0168%	1h	0.03861	long leg	$49K	$437K	25x
BloFin SAGA-USDTshort	+0.0085%	4h	0.03869	+0.207%	$999K	$450K	20x
Hyperliquid SAGA	+0.0100%	1h	0.03855	−0.155%	$2.1M	$342K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03859	−0.058%	$73K	$941K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03860	−0.026%	$19.1M	$141.4M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03863	+0.052%	$3.7M	$19.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03870	+0.233%	$5.9M	$9.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03858	−0.078%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03865	+0.104%	$872K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03863	+0.052%	—	$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	0.03864	+0.070%	$6K	$112K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03858	−0.068%	$3K	$159K	5x	as long as short
Kraken Futures PF_SAGAUSD	+0.0186%	1h	0.03855	−0.147%	$70K	$728K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0787%	1h	0.03862	+0.026%	$3K	$28	10x	as long as short