Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1170%/8h= +128.1% APRpaid last 24h 0.000%

Price spread now: Deribit against Gate−0.076%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 0.076% cheaper against Gate than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5 hours of funding at the current rate (+$35 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03957	0.0100	pay 0.0050% / 4h	1h 43m	$6.1M	$7.9M	20x
Short	Deribit SAGA_USDC-PERPETUAL	0.03954	0.1270	get 0.0159% / 1h	43m 54s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.076%Rate

Funding earned: $245.65
Price spread: −0.076% → 0.000%: −$7.58
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $216.07
Costs to cover: 0.220%
Break-even: 0.8 days

Slippage unknown: Gate: live order book, 5 min ago; Deribit: no order-book sample. 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 Gate live order book, 5 min ago	7.56 bp	121.7 bp −$122	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0320%	1h	0.03944	−0.329%	$2.2M	$281K	3x	as long as short
BloFin SAGA-USDT	+0.0064%	4h	0.03960	+0.076%	$1.0M	$252K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0064%	1h	0.03951	−0.152%	$46K	$392K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03952	−0.129%	$70K	$801K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03946	−0.286%	$19.6M	$108.0M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03946	−0.283%	$3.9M	$14.7M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03957	long leg	$6.1M	$7.9M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03945	−0.303%	$2.6M	$4.9M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03949	−0.202%	$785K	$2.7M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03946	−0.278%	—	$2.0M	—	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	0.03945	−0.310%	$5K	$130K	5x	as long as short
Variational Omni SAGA	+0.0131%	4h	0.03959	+0.046%	$4K	$53K	—	as long as short
Kraken Futures PF_SAGAUSD	+0.0132%	1h	0.03951	−0.142%	$70K	$646K	20x	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.1270%	1h	0.03954	−0.076%	$3K	$28	10x