Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h −0.286%

Price spread now: Coinbase International against Gate−1.136%7-day average −1.560% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$639as in the Price arb table

costs, in and out, $10k−$6816.809% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−5.387%−$539 on $10k

Price spread, last 4 days (all we have)+1.349%+$135 · spread now −1.136%, 7d avg −1.560%

Together, before fees−4.038%−$404 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.423% dearer against Gate than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of −1.560%. Mind the row above: over the last 7 days funding on this pair cost −5.387%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.04048	0.0100	pay 0.0050% / 4h	52m 44s	$6.1M	$7.4M	20x
Short	Coinbase International SAGA-PERP-INTX	0.04002	0.0448	get 0.0056% / 1h	52m 44s	$41K	$381K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −1.136%Rate

Funding earned: $73.08
Price spread: −1.136% → −1.560%: $42.33
Slippage, 4 orders: −$655.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$565.46
Costs to cover: 6.809%
Break-even: 61.2 days

Slippage from Gate: live order book, 1 min ago; Coinbase International: live order book, 50 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 Gate live order book, 1 min ago	4.98 bp	85.1 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 50 min ago	49.15 bp	265.8 bp −$266	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	−0.0432%	1h	0.04000	−1.195%	$72K	$562K	20x	as long as short
KuCoin SAGAUSDTM	−0.0034%	4h	0.04072	+0.593%	$833K	$2.7M	20x	as long as short
BloFin SAGA-USDT	+0.0053%	4h	0.03999	−1.210%	$1.0M	$273K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.04051	+0.074%	$2.2M	$262K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04064	+0.388%	$57K	$711K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04072	+0.593%	$19.9M	$100.9M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.04048	long leg	$6.1M	$7.4M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.04068	+0.494%	$2.7M	$4.4M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04076	+0.692%	—	$2.0M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03990	−1.429%	$6K	$41K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.04035	−0.318%	$2K	$178K	5x	as long as short
Bybit SAGAUSDT	+0.0171%	4h	0.04069	+0.529%	$3.9M	$15.4M	20x	as long as short
Coinbase International SAGA-PERP-INTXshort	+0.0448%	1h	0.04002	−1.136%	$41K	$381K	25x
Deribit SAGA_USDC-PERPETUAL	+0.0752%	1h	0.03997	−1.260%	$3K	—	10x	as long as short