SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0909%/8h= −99.6% APRnext payment −$1.14 per $10,000 · paid last 24h −0.221%

Price spread now: Kraken Futures against Deribit−0.043%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Kraken Futures

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

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Kraken Futures is 0.043% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SAGA_USDC-PERPETUAL	0.03870	0.1044	pay 0.0130% / 1h	32m 37s	$3K	$28	10x
Short	Kraken Futures PF_SAGAUSD	0.03868	0.0134	get 0.0017% / 1h	32m 37s	$68K	$641K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$190.96
Price spread: −0.043% → 0.000%: −$4.35
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$212.31
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 30 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 Kraken Futures live order book, 30 min ago	22.66 bp	44.2 bp −$44	doesn't fit	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
Hyperliquid SAGA	−0.0012%	1h	0.03865	−0.129%	$2.1M	$282K	3x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0064%	1h	0.03868	−0.052%	$45K	$381K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03865	−0.137%	$69K	$789K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03872	+0.039%	$19.2M	$106.4M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03877	+0.186%	$3.8M	$14.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03882	+0.310%	$5.9M	$7.9M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03872	+0.052%	$2.5M	$4.9M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03877	+0.181%	$771K	$2.6M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03880	+0.258%	—	$2.0M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03875	+0.123%	$5K	$130K	5x	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	+0.0117%	4h	0.03919	+1.275%	$4K	$53K	—	as long as short
BloFin SAGA-USDT	+0.0131%	4h	0.03905	+0.904%	$1.0M	$237K	20x	as long as short
Kraken Futures PF_SAGAUSDshort	+0.0134%	1h	0.03868	−0.043%	$68K	$641K	20x
Deribit SAGA_USDC-PERPETUALlong	+0.1044%	1h	0.03870	long leg	$3K	$28	10x