SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1140%/8h= −124.8% APRnext payment −$1.43 per $10,000 · paid last 24h −0.151%

Price spread now: Hyperliquid against Extended−0.563%7-day average −0.288% · you buy dearer than you sell

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$1371.367% of the position

Long on Extended Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.890%−$89 on $10k

Price spread, last 4 days (all we have)+0.424%+$42 · spread now −0.563%, 7d avg −0.288%

Together, before fees−0.466%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Hyperliquid is 0.275% cheaper against Extended than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.288%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.03900	0.0104	pay 0.0013% / 1h	32m 26s	$2K	$134K	5x
Short	Hyperliquid SAGA	0.03878	−0.1036	pay 0.0130% / 1h	32m 26s	$2.2M	$290K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.563%Rate

Funding earned: −$239.41
Price spread: −0.563% → −0.288%: −$27.5
Slippage, 4 orders: −$122.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$403.57
Costs to cover: 1.367%
Break-even: never at this rate

Slippage from Extended: live order book, 33 min ago; Hyperliquid: live order book, 9 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, 33 min ago	6.51 bp	44.3 bp −$44	311.3 bp −$3,113	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.27 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit

SAGA on 13 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 SAGAshort	−0.1036%	1h	0.03878	−0.563%	$2.2M	$290K	3x
Kraken Futures PF_SAGAUSD	−0.0039%	1h	0.03895	−0.133%	$69K	$652K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03904	+0.107%	$70K	$834K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03901	+0.027%	$19.3M	$114.6M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03901	+0.019%	$3.8M	$15.7M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03914	+0.360%	$6.0M	$8.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03906	+0.155%	$2.6M	$5.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03897	−0.075%	$769K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03901	+0.027%	—	$2.0M	—	as long as short
Extended SAGA-USDlong	+0.0104%	1h	0.03900	long leg	$2K	$134K	5x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTX	+0.0104%	1h	0.03891	−0.229%	$46K	$408K	25x	as long as short
Variational Omni SAGA	+0.0198%	4h	0.03906	+0.146%	$4K	$75K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0776%	1h	0.03902	+0.053%	$3K	$28	10x	as long as short