Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1060%/8h= +116.1% APRpaid last 24h +0.147%

Price spread now: Binance against Hyperliquid+0.945%7-day average +0.166% · you sell dearer than you buy

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

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.878%+$88 on $10k

Price spread, last 7 days−0.856%−$86 · spread now +0.945%, 7d avg +0.166%

Together, before fees+0.023%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Binance is 0.778% dearer against Hyperliquid than usual: you sell high and buy low: +$78 more if the spread goes back to its 7-day average of +0.166%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03917	−0.0960	get 0.0120% / 1h	9m 58s	$2.2M	$280K	3x
Short	Binance SAGAUSDT	0.03954	0.0100	get 0.0050% / 4h	2h 09m	$19.6M	$111.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.945%Rate

Funding earned: $222.65
Price spread: +0.945% → +0.166%: $77.82
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: $281.47
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 1 min ago; Binance: live order book, 3 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 Hyperliquid live order book, 1 min ago	1.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	1.26 bp	18.2 bp −$18	84.3 bp −$843	781.0 bp −$78.1K	doesn't fit

SAGA on 13 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 SAGAlong	−0.0960%	1h	0.03917	long leg	$2.2M	$280K	3x
Kraken Futures PF_SAGAUSD	−0.0038%	1h	0.03947	+0.762%	$70K	$650K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03952	+0.902%	$70K	$834K	5x	as long as short
Binance SAGAUSDTshort	+0.0100%	4h	0.03954	+0.945%	$19.6M	$111.1M	20x
Bybit SAGAUSDT	+0.0100%	4h	0.03954	+0.939%	$3.9M	$15.2M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03967	+1.276%	$6.1M	$8.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03953	+0.919%	$2.7M	$5.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03954	+0.945%	$782K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03956	+0.996%	—	$2.0M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03953	+0.920%	$5K	$133K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTX	+0.0104%	1h	0.03942	+0.638%	$46K	$400K	25x	as long as short
Variational Omni SAGA	+0.0132%	4h	0.03956	+0.997%	$4K	$55K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1269%	1h	0.03957	+1.021%	$3K	$28	10x	as long as short