Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.028%

Price spread now: Variational Omni against Extended−0.282%7-day average −0.126% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 3 days (all we have)+0.690%+$69 · spread now −0.282%, 7d avg −0.126%

Together, before fees+0.696%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$70 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: Variational Omni is 0.156% cheaper against Extended than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.03917	0.0104	pay 0.0013% / 1h	7m 11s	$3K	$159K	5x
Short	Variational Omni SAGA	0.03906	0.0100	get 0.0050% / 4h	7m 11s	$4K	$110K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.282%Rate

Funding earned: −$0.84
Price spread: −0.282% → −0.126%: −$15.58
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.42
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 min ago; Variational Omni: RFQ quote, 7 min ago. Net counts fees only.

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, 4 min ago	6.66 bp	42.8 bp −$43	298.7 bp −$2,987	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 7 min ago	3.82 bp	doesn't fit	121.0 bp −$1,210	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	−0.0766%	1h	0.03914	−0.084%	$70K	$713K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03940	+0.579%	$48K	$436K	25x	as long as short
KuCoin SAGAUSDTM	−0.0022%	4h	0.03916	−0.033%	$779K	$3.1M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03912	−0.136%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03919	+0.036%	$70K	$895K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03918	+0.027%	$19.3M	$133.9M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03924	+0.171%	$3.8M	$18.3M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03926	+0.222%	$6.0M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03916	−0.033%	$2.6M	$6.1M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03917	−0.008%	—	$2.2M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGAshort	+0.0100%	4h	0.03906	−0.282%	$4K	$110K	—
Extended SAGA-USDlong	+0.0104%	1h	0.03917	long leg	$3K	$159K	5x
BloFin SAGA-USDT	+0.0118%	4h	0.03921	+0.094%	$999K	$405K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1027%	1h	0.03920	+0.069%	$3K	$28	10x	as long as short