Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: MEXC against Extended+0.018%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1311.306% of the position

Long on Extended Short on MEXC

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)−0.297%−$30 · spread now +0.018%, 7d avg −0.027%

Together, before fees−0.308%+ Points / potential airdropExtended: Active · farm board−$31 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: MEXC is 0.044% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.03918	0.0104	pay 0.0013% / 1h	45m 51s	$2K	$129K	5x
Short	MEXC SAGA_USDT	0.03919	0.0100	get 0.0050% / 4h	45m 51s	$2.6M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$0.84
Price spread: +0.018% → −0.027%: $4.45
Slippage, 4 orders: −$121.63
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$127.02
Costs to cover: 1.306%
Break-even: never at this rate

Slippage from Extended: live order book, 10 min ago; MEXC: 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, 10 min ago	7.43 bp	49.0 bp −$49	333.2 bp −$3,332	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.27 bp	17.8 bp −$18	106.1 bp −$1,061	698.9 bp −$69.9K	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	−0.0263%	1h	0.03911	−0.192%	$69K	$646K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03914	−0.110%	$45K	$380K	25x	as long as short
BloFin SAGA-USDT	+0.0082%	4h	0.03912	−0.161%	$994K	$214K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03884	−0.876%	$2.1M	$267K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03915	−0.090%	$70K	$789K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03912	−0.166%	$19.3M	$102.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03926	+0.196%	$6.0M	$7.8M	20x	as long as short
MEXC SAGA_USDTshort	+0.0100%	4h	0.03919	+0.018%	$2.6M	$4.5M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03917	−0.033%	$775K	$2.6M	20x	as long as short
Extended SAGA-USDlong	+0.0104%	1h	0.03918	long leg	$2K	$129K	5x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0144%	4h	0.03916	−0.059%	—	$2.0M	—	as long as short
Bybit SAGAUSDT	+0.0225%	4h	0.03914	−0.120%	$3.8M	$14.4M	20x	as long as short
Variational Omni SAGA	+0.0262%	4h	0.03919	+0.023%	$4K	$51K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1539%	1h	0.03920	+0.043%	$3K	$28	10x	as long as short