Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.150%

Price spread now: MEXC against Gate−0.685%7-day average −0.188% · you buy dearer than you sell

Net, funding: paid 7d − costs−$342as in the Funding arb table

Net, price: spread back to 7d avg − costs−$305as in the Price arb table

costs, in and out, $10k−$2552.554% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.865%−$86 on $10k

Price spread, last 7 days+0.578%+$58 · spread now −0.685%, 7d avg −0.188%

Together, before fees−0.287%−$29 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 0.497% cheaper against Gate than usual: you would sell low and buy high, −$50 on $10k if it goes back to its 7-day average of −0.188%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03942	0.0100	pay 0.0050% / 4h	3h 13m	$6.0M	$8.6M	20x
Short	MEXC SAGA_USDT	0.03915	0.0100	get 0.0050% / 4h	3h 13m	$2.6M	$6.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.685%Rate

Funding earned: $0
Price spread: −0.685% → −0.188%: −$49.71
Slippage, 4 orders: −$236.43
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$305.13
Costs to cover: 2.554%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; MEXC: live order book, 4 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, 5 min ago	8.94 bp	114.8 bp −$115	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.29 bp	13.8 bp −$14	68.3 bp −$683	615.7 bp −$61.6K	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	−0.0692%	1h	0.03916	−0.652%	$70K	$683K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03870	−1.826%	$46K	$422K	25x	as long as short
BloFin SAGA-USDT	+0.0091%	4h	0.03883	−1.497%	$988K	$329K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03902	−1.015%	$2.2M	$302K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03924	−0.469%	$70K	$878K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03917	−0.634%	$19.4M	$123.1M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03942	long leg	$6.0M	$8.6M	20x
MEXC SAGA_USDTshort	+0.0100%	4h	0.03915	−0.685%	$2.6M	$6.0M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03924	−0.457%	$776K	$2.9M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03915	−0.682%	$2K	$134K	5x	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	+0.0235%	4h	0.03881	−1.556%	$4K	$91K	—	as long as short
Bybit SAGAUSDT	+0.0806%	4h	0.03916	−0.657%	$3.8M	$16.6M	20x	as long as short
BingX SAGA-USDT	+0.0854%	4h	0.03915	−0.685%	—	$2.1M	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1030%	1h	0.03911	−0.786%	$3K	$28	10x	as long as short