Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h +0.148%

Price spread now: KuCoin against Coinbase International−0.286%7-day average +1.325% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$728as in the Price arb table

costs, in and out, $10k−$5675.665% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+4.569%+$457 on $10k

Price spread, last 4 days (all we have)−0.339%−$34 · spread now −0.286%, 7d avg +1.325%

Together, before fees+4.231%+$423 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 1.611% cheaper against Coinbase International than usual: you would sell low and buy high (−$161 if the spread goes back to its 7-day average of +1.325%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +4.569%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.04200	0.0176	pay 0.0022% / 1h	12m 05s	$46K	$403K	25x
Short	KuCoin SAGAUSDTM	0.04188	0.0100	get 0.0050% / 4h	2h 12m	$830K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.286%Rate

Funding earned: −$15.96
Price spread: −0.286% → +1.325%: −$161.12
Slippage, 4 orders: −$544.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$743.62
Costs to cover: 5.665%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 36 min ago; KuCoin: 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, 36 min ago	59.10 bp	225.2 bp −$225	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	19.12 bp	102.9 bp −$103	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	−0.0026%	1h	0.04173	−0.643%	$2.3M	$258K	3x	as long as short
Kraken Futures PF_SAGAUSD	+0.0092%	1h	0.04184	−0.385%	$78K	$615K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04190	−0.235%	$71K	$727K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04191	−0.214%	$20.8M	$97.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04203	+0.071%	$6.3M	$7.7M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04191	−0.214%	$3.0M	$4.2M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.04188	−0.286%	$830K	$2.5M	20x
Extended SAGA-USD	+0.0104%	1h	0.04190	−0.227%	$4K	$192K	5x	as long as short
BloFin SAGA-USDT	+0.0154%	4h	0.04183	−0.405%	$1.1M	$212K	20x	as long as short
Coinbase International SAGA-PERP-INTXlong	+0.0176%	1h	0.04200	long leg	$46K	$403K	25x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0231%	4h	0.04188	−0.274%	$4.1M	$14.4M	20x	as long as short
BingX SAGA-USDT	+0.0260%	4h	0.04188	−0.286%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0474%	4h	0.04187	−0.306%	$6K	$46K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0704%	1h	0.04195	−0.119%	$3K	—	10x	as long as short