Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.081%

Price spread now: KuCoin against Extended−0.118%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$320as in the Funding arb table

Net, price: spread back to 7d avg − costs−$327as in the Price arb table

costs, in and out, $10k−$3213.214% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.118%, 7d avg −0.060%

Together, before fees+0.149%+ Points / potential airdropExtended: Active · farm board+$15 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: KuCoin is 0.058% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.04193	0.0104	pay 0.0013% / 1h	12m 08s	$4K	$192K	5x
Short	KuCoin SAGAUSDTM	0.04188	0.0100	get 0.0050% / 4h	2h 12m	$830K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Extended. 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 ExtendedbpFee KuCoinbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$0.84
Price spread: −0.118% → −0.060%: −$5.8
Slippage, 4 orders: −$304.42
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$328.06
Costs to cover: 3.214%
Break-even: never at this rate

Slippage from Extended: live order book, 34 min ago; KuCoin: live order book, 5 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, 34 min ago	6.67 bp	51.4 bp −$51	334.1 bp −$3,341	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	19.12 bp	102.9 bp −$103	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
Hyperliquid SAGA	−0.0030%	1h	0.04173	−0.475%	$2.3M	$258K	3x	as long as short
Kraken Futures PF_SAGAUSD	+0.0092%	1h	0.04184	−0.217%	$78K	$615K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04193	+0.008%	$71K	$727K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04191	−0.050%	$20.8M	$97.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04210	+0.407%	$6.4M	$7.7M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04191	−0.046%	$3.0M	$4.2M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.04188	−0.118%	$830K	$2.5M	20x
Extended SAGA-USDlong	+0.0104%	1h	0.04193	long leg	$4K	$192K	5x
BloFin SAGA-USDT	+0.0154%	4h	0.04183	−0.237%	$1.1M	$212K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0176%	1h	0.04200	+0.169%	$46K	$403K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0231%	4h	0.04191	−0.051%	$4.1M	$14.4M	20x	as long as short
BingX SAGA-USDT	+0.0260%	4h	0.04188	−0.118%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0474%	4h	0.04187	−0.138%	$6K	$46K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0704%	1h	0.04195	+0.049%	$3K	—	10x	as long as short