Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.174%

Price spread now: Aster against Hyperliquid+0.145%7-day average +0.232% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1271.266% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.717%+$72 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.145%, 7d avg +0.232%

Together, before fees+0.609%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$61 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: Aster is 0.087% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.232%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03935	0.0100	pay 0.0013% / 1h	37m 44s	$2.2M	$323K	3x
Short	Aster SAGAUSDT	0.03941	0.0100	get 0.0050% / 4h	37m 44s	$71K	$904K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.232%: −$8.68
Slippage, 4 orders: −$109.61
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$135.29
Costs to cover: 1.266%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Aster: live order book, 35 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 Hyperliquid live order book, 3 min ago	1.27 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 35 min ago	20.61 bp	41.4 bp −$41	261.0 bp −$2,610	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	0.03933	−0.062%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03931	−0.102%	$49K	$436K	25x	as long as short
BloFin SAGA-USDT	+0.0063%	4h	0.03937	+0.051%	$1.0M	$450K	20x	as long as short
KuCoin SAGAUSDTM	+0.0092%	4h	0.03940	+0.127%	$821K	$3.1M	20x	as long as short
Hyperliquid SAGAlong	+0.0100%	1h	0.03935	long leg	$2.2M	$323K	3x
Aster SAGAUSDTshort	+0.0100%	4h	0.03941	+0.145%	$71K	$904K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03941	+0.152%	$19.5M	$136.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03945	+0.259%	$3.8M	$18.7M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03954	+0.483%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03938	+0.076%	$2.7M	$6.1M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0100%	4h	0.03943	+0.203%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03920	−0.382%	$4K	$113K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03941	+0.160%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1274%	1h	0.03943	+0.203%	$3K	$28	10x	as long as short