Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.391%

Price spread now: KuCoin against Gate−0.353%7-day average −0.234% · you buy dearer than you sell

Net, funding: paid 7d − costs−$494as in the Funding arb table

Net, price: spread back to 7d avg − costs−$423as in the Price arb table

costs, in and out, $10k−$4114.108% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.829%−$83 on $10k

Price spread, last 4 days (all we have)+0.271%+$27 · spread now −0.353%, 7d avg −0.234%

Together, before fees−0.558%−$56 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 0.119% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.234%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03963	0.0100	pay 0.0050% / 4h	50m 39s	$6.1M	$9.1M	20x
Short	KuCoin SAGAUSDTM	0.03949	0.0100	get 0.0050% / 4h	50m 39s	$824K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.353%Rate

Funding earned: $0
Price spread: −0.353% → −0.234%: −$11.92
Slippage, 4 orders: −$383.85
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$422.77
Costs to cover: 4.108%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; KuCoin: live order book, 7 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, 3 min ago	6.29 bp	91.0 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	15.39 bp	105.3 bp −$105	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	−0.0762%	1h	0.03932	−0.785%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03936	−0.681%	$49K	$437K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03945	−0.454%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03951	−0.308%	$71K	$912K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03948	−0.383%	$19.5M	$137.4M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03946	−0.429%	$3.8M	$18.8M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03963	long leg	$6.1M	$9.1M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03940	−0.580%	$2.7M	$6.1M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.03949	−0.353%	$824K	$3.1M	20x
BingX SAGA-USDT	+0.0100%	4h	0.03945	−0.454%	—	$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 SAGA	+0.0100%	4h	0.03898	−1.635%	$6K	$112K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03946	−0.439%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0146%	4h	0.03956	−0.177%	$980K	$453K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0258%	1h	0.03936	−0.681%	$3K	$28	10x	as long as short