SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0354%/8h= +38.8% APRnext payment +$0.44 per $10,000 · paid last 24h +0.721%

Price spread now: Kraken Futures against Coinbase International+0.339%7-day average +1.363% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$539as in the Price arb table

costs, in and out, $10k−$4364.365% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.676%+$268 on $10k

Price spread, last 3 days (all we have)−2.029%−$203 · spread now +0.339%, 7d avg +1.363%

Together, before fees+0.647%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 1.025% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.339% now, against its 7-day average of +1.363%). If the spread goes back, that is −$102 on $10k: about 9.7 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+2.676% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.03851	−0.0168	get 0.0021% / 1h	29m 33s	$49K	$436K	25x
Short	Kraken Futures PF_SAGAUSD	0.03864	0.0186	get 0.0023% / 1h	29m 33s	$70K	$728K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.339%Rate

Funding earned: $74.32
Price spread: +0.339% → +1.363%: −$102.47
Slippage, 4 orders: −$416.46
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$464.61
Costs to cover: 4.365%
Break-even: 50.8 days

Slippage from Coinbase International: live order book, 53 min ago; Kraken Futures: live order book, 54 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, 53 min ago	25.38 bp	176.5 bp −$176	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 54 min ago	49.61 bp	82.5 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
Coinbase International SAGA-PERP-INTXlong	−0.0168%	1h	0.03851	long leg	$49K	$436K	25x
Hyperliquid SAGA	+0.0100%	1h	0.03857	+0.156%	$2.1M	$341K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03870	+0.498%	$74K	$939K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03873	+0.571%	$19.2M	$141.1M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03865	+0.364%	$3.7M	$19.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03886	+0.909%	$6.0M	$9.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03854	+0.078%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03875	+0.623%	$875K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03872	+0.545%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03869	+0.480%	$6K	$112K	—	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	0.03869	+0.474%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0146%	4h	0.03860	+0.234%	$983K	$449K	20x	as long as short
Kraken Futures PF_SAGAUSDshort	+0.0186%	1h	0.03864	+0.339%	$70K	$728K	20x
Deribit SAGA_USDC-PERPETUAL	+0.0785%	1h	0.03868	+0.441%	$3K	$28	10x	as long as short