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 −0.263%

Price spread now: Variational Omni against Gate−0.547%7-day average −0.296% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.681%−$68 on $10k

Price spread, last 3 days (all we have)+0.769%+$77 · spread now −0.547%, 7d avg −0.296%

Together, before fees+0.088%+ Points / potential airdropVariational Omni: Active · farm board+$9 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 0.251% cheaper against Gate than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.296%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03898	0.0100	pay 0.0050% / 4h	59m 00s	$6.0M	$9.1M	20x
Short	Variational Omni SAGA	0.03877	0.0100	get 0.0050% / 4h	59m 00s	$6K	$112K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now −0.547%Rate

Funding earned: $0
Price spread: −0.547% → −0.296%: −$25.09
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$40.09
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Variational Omni: RFQ quote, 20 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 Gate live order book, 4 min ago	9.04 bp	125.2 bp −$125	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 20 min ago	5.09 bp	doesn't fit	132.3 bp −$1,323	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	−0.0774%	1h	0.03873	−0.632%	$70K	$725K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03861	−0.949%	$48K	$437K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03879	−0.487%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03883	−0.393%	$73K	$911K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03891	−0.190%	$19.2M	$138.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03895	−0.090%	$3.7M	$19.0M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03898	long leg	$6.0M	$9.1M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03882	−0.410%	$2.7M	$6.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03875	−0.590%	$807K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03887	−0.282%	—	$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	0.03877	−0.547%	$6K	$112K	—
Extended SAGA-USD	+0.0104%	1h	0.03881	−0.445%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0146%	4h	0.03860	−0.975%	$980K	$442K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1040%	1h	0.03882	−0.410%	$3K	$28	10x	as long as short