Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1420%/8h= −155.5% APRpaid last 24h −0.106%

Price spread now: BingX against Deribit+0.103%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.103% dearer against Deribit than usual: you sell high and buy low (spread +0.103% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$43 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SAGA_USDC-PERPETUAL	0.03891	0.1552	pay 0.0194% / 1h	1m 36s	$3K	$28	10x
Short	BingX SAGA-USDT	0.03895	0.0132	get 0.0066% / 4h	1m 36s	—	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$298.26
Price spread: +0.103% → 0.000%: $10.28
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$304.98
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; BingX: live order book, 6 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell BingX live order book, 6 min ago	3.85 bp	27.4 bp −$27	91.4 bp −$914	568.3 bp −$56.8K	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.03887	−0.110%	$69K	$642K	20x	as long as short
Hyperliquid SAGA	−0.0145%	1h	0.03870	−0.540%	$2.1M	$261K	3x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03900	+0.231%	$44K	$384K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03886	−0.129%	$69K	$768K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03889	−0.058%	$19.1M	$100.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03910	+0.488%	$5.9M	$7.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03887	−0.103%	$2.5M	$4.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03896	+0.129%	$741K	$2.6M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03887	−0.107%	$5K	$133K	5x	as long as short
BloFin SAGA-USDT	+0.0104%	4h	0.03893	+0.051%	$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-USDTshort	+0.0132%	4h	0.03895	+0.103%	—	$2.0M	—
Bybit SAGAUSDT	+0.0141%	4h	0.03891	−0.013%	$3.8M	$14.3M	20x	as long as short
Variational Omni SAGA	+0.0197%	4h	0.03913	+0.565%	$4K	$45K	—	as long as short
Deribit SAGA_USDC-PERPETUALlong	+0.1552%	1h	0.03891	long leg	$3K	$28	10x