Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0388%/8h= +42.5% APRpaid last 24h +1.133%

Price spread now: Gate against Coinbase International+0.373%7-day average +1.695% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$695as in the Price arb table

costs, in and out, $10k−$5635.627% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+5.436%+$544 on $10k

Price spread, last 3 days (all we have)−0.849%−$85 · spread now +0.373%, 7d avg +1.695%

Together, before fees+4.587%+$459 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 1.322% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.373% now, against its 7-day average of +1.695%). If the spread goes back, that is −$132 on $10k: about 11 days of funding at the current rate (+$12 a day). At the pace of the last 7 days (+5.436% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.04021	−0.0288	get 0.0036% / 1h	38m 31s	$52K	$452K	25x
Short	Gate SAGA_USDT	0.04036	0.0100	get 0.0050% / 4h	2h 38m	$6.2M	$9.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.373%Rate

Funding earned: $81.48
Price spread: +0.373% → +1.695%: −$132.18
Slippage, 4 orders: −$537.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$613.41
Costs to cover: 5.627%
Break-even: 59.7 days

Slippage from Coinbase International: live order book, 49 min ago; Gate: live order book, 5 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, 49 min ago	58.34 bp	222.0 bp −$222	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	11.36 bp	82.6 bp −$83	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
Hyperliquid SAGA	−0.1182%	1h	0.04013	−0.199%	$2.2M	$344K	3x	as long as short
Coinbase International SAGA-PERP-INTXlong	−0.0288%	1h	0.04021	long leg	$52K	$452K	25x
BloFin SAGA-USDT	+0.0044%	4h	0.04029	+0.199%	$1.0M	$532K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04019	−0.039%	$68K	$982K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04034	+0.323%	$20.1M	$148.2M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04031	+0.249%	$3.9M	$20.8M	20x	as long as short
Gate SAGA_USDTshort	+0.0100%	4h	0.04036	+0.373%	$6.2M	$9.4M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.04030	+0.224%	$2.9M	$6.7M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04021	0.000%	$918K	$3.2M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04032	+0.274%	—	$2.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.04030	+0.235%	$3K	$159K	5x	as long as short
Variational Omni SAGA	+0.0187%	4h	0.03989	−0.802%	$6K	$113K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0743%	1h	0.04033	+0.298%	$3K	$28	10x	as long as short
Kraken Futures PF_SAGAUSD	+0.0922%	1h	0.04029	+0.196%	$82K	$724K	20x	as long as short