Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.002%

Price spread now: BloFin against Extended−0.823%74s7-day average −0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1281.282% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.823%, 7d avg −0.134%

Together, before fees−0.167%+ Points / potential airdropExtended: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.689% cheaper against Extended than usual: you would sell low and buy high (−$69 if the spread goes back to its 7-day average of −0.134%). Swap the legs. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.03969	0.0104	pay 0.0013% / 1h	55m 44s	$2K	$191K	5x
Short	BloFin SAGA-USDT	0.03936	0.0076	get 0.0038% / 4h	2h 55m	$1.0M	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.823%Rate

Funding earned: −$5.86
Price spread: −0.823% → −0.134%: −$68.91
Slippage, 4 orders: −$111.22
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$202.99
Costs to cover: 1.282%
Break-even: never at this rate

Slippage from Extended: live order book, 55 min ago; BloFin: live order book, 6 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 Extended live order book, 55 min ago	7.15 bp	36.6 bp −$37	300.0 bp −$3,000	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	3.80 bp	21.8 bp −$22	88.0 bp −$880	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
BloFin SAGA-USDTshort	+0.0076%	4h	0.03936	−0.823%	$1.0M	$210K	20x
Kraken Futures PF_SAGAUSD	+0.0097%	1h	0.03963	−0.140%	$74K	$624K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03937	−0.798%	$2.2M	$254K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03962	−0.157%	$69K	$741K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03965	−0.103%	$19.5M	$97.2M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03975	+0.159%	$6.0M	$7.5M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03966	−0.067%	$2.6M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03970	+0.033%	$763K	$2.5M	20x	as long as short
Extended SAGA-USDlong	+0.0104%	1h	0.03969	long leg	$2K	$191K	5x
Coinbase International SAGA-PERP-INTX	+0.0176%	1h	0.03969	+0.008%	$44K	$380K	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	+0.0605%	4h	0.03968	−0.014%	$4K	$45K	—	as long as short
BingX SAGA-USDT	+0.0742%	4h	0.03961	−0.193%	—	$1.9M	—	as long as short
Bybit SAGAUSDT	+0.0824%	4h	0.03966	−0.067%	$3.9M	$14.2M	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1012%	1h	0.03966	−0.067%	$3K	—	10x	as long as short