Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1159%/8h= −126.9% APRpaid last 24h −0.069%

Price spread now: Gate against Deribit+0.728%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 Gate

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. Gate is 0.728% dearer against Deribit than usual: you sell high and buy low (spread +0.728% now, against zero (this spread has no 7-day history yet)): +$73 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SAGA_USDC-PERPETUAL	0.03982	0.1259	pay 0.0157% / 1h	39m 32s	$3K	—	10x
Short	Gate SAGA_USDT	0.04011	0.0100	get 0.0050% / 4h	2h 39m	$6.0M	$7.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now +0.728%Rate

Funding earned: −$243.4
Price spread: +0.728% → 0.000%: $72.83
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$192.57
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	6.26 bp	85.2 bp −$85	392.1 bp −$3,921	doesn't fit	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
BloFin SAGA-USDT	+0.0043%	4h	0.03975	−0.176%	$1.0M	$207K	20x	as long as short
Kraken Futures PF_SAGAUSD	+0.0097%	1h	0.03971	−0.285%	$74K	$617K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03960	−0.552%	$2.2M	$254K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03994	+0.313%	$69K	$734K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03995	+0.326%	$19.7M	$96.5M	20x	as long as short
Gate SAGA_USDTshort	+0.0100%	4h	0.04011	+0.728%	$6.0M	$7.6M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.04000	+0.452%	$2.6M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04003	+0.527%	$770K	$2.5M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04005	+0.573%	$5K	$195K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0176%	1h	0.03971	−0.276%	$44K	$378K	25x	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	+0.0639%	4h	0.03982	+0.006%	$4K	$44K	—	as long as short
Bybit SAGAUSDT	+0.0680%	4h	0.03996	+0.342%	$3.9M	$14.2M	20x	as long as short
BingX SAGA-USDT	+0.0682%	4h	0.04002	+0.502%	—	$1.9M	—	as long as short
Deribit SAGA_USDC-PERPETUALlong	+0.1259%	1h	0.03982	long leg	$3K	—	10x