Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.146%

Price spread now: Gate against Extended+0.608%7-day average +0.168% · you sell dearer than you buy

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$233as in the Price arb table

costs, in and out, $10k−$2772.767% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.854%+$85 on $10k

Price spread, last 4 days (all we have)−0.556%−$56 · spread now +0.608%, 7d avg +0.168%

Together, before fees+0.297%+ Points / potential airdropExtended: Active · farm board+$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.439% dearer against Extended than usual: you sell high and buy low, +$44 on $10k if it goes back to its 7-day average of +0.168%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.03931	0.0104	pay 0.0013% / 1h	41m 18s	$4K	$162K	5x
Short	Gate SAGA_USDT	0.03955	0.0100	get 0.0050% / 4h	3h 41m	$6.1M	$8.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.608%Rate

Funding earned: −$0.84
Price spread: +0.608% → +0.168%: $43.92
Slippage, 4 orders: −$256.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$233.58
Costs to cover: 2.767%
Break-even: never at this rate

Slippage from Extended: live order book, 29 min ago; Gate: live order book, 2 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, 29 min ago	6.66 bp	42.8 bp −$43	298.7 bp −$2,987	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	8.81 bp	81.8 bp −$82	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
Kraken Futures PF_SAGAUSD	−0.0691%	1h	0.03925	−0.165%	$70K	$682K	20x	as long as short
BloFin SAGA-USDT	+0.0045%	4h	0.03940	+0.226%	$1.0M	$374K	20x	as long as short
KuCoin SAGAUSDTM	+0.0056%	4h	0.03931	−0.003%	$781K	$3.0M	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03934	+0.073%	$47K	$431K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03929	−0.054%	$2.2M	$317K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03940	+0.224%	$71K	$884K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03933	+0.058%	$19.4M	$127.5M	20x	as long as short
Gate SAGA_USDTshort	+0.0100%	4h	0.03955	+0.608%	$6.1M	$8.6M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03934	+0.073%	$2.6M	$5.9M	50x	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03944	+0.319%	$4K	$101K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USDlong	+0.0104%	1h	0.03931	long leg	$4K	$162K	5x
Bybit SAGAUSDT	+0.0379%	4h	0.03939	+0.198%	$3.8M	$17.2M	20x	as long as short
BingX SAGA-USDT	+0.0514%	4h	0.03942	+0.277%	—	$2.1M	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1278%	1h	0.03932	+0.023%	$3K	$28	10x	as long as short