SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.3193%/8h= +349.6% APRnext payment +$3.99 per $10,000 · paid last 24h +0.294%

Price spread now: Deribit against Hyperliquid+0.458%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$96 a day on $10k at the current rate, and Deribit is 0.458% dearer against Hyperliquid than usual: you sell high and buy low: +$46 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03928	−0.2174	get 0.0272% / 1h	55m 14s	$2.2M	$293K	3x
Short	Deribit SAGA_USDC-PERPETUAL	0.03946	0.1019	get 0.0127% / 1h	55m 14s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.458%Rate

Funding earned: $670.5
Price spread: +0.458% → 0.000%: $45.82
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $700.33
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 6 min ago; Deribit: no order-book sample. 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, 6 min ago	1.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hyperliquid SAGAlong	−0.2174%	1h	0.03928	long leg	$2.2M	$293K	3x
Kraken Futures PF_SAGAUSD	−0.0038%	1h	0.03938	+0.265%	$70K	$669K	20x	as long as short
BloFin SAGA-USDT	+0.0060%	4h	0.03965	+0.942%	$995K	$321K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03944	+0.411%	$70K	$850K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03948	+0.498%	$19.5M	$119.3M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03961	+0.840%	$6.1M	$8.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03944	+0.407%	$2.6M	$5.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03947	+0.484%	$780K	$2.9M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03946	+0.459%	$3K	$134K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0104%	1h	0.03942	+0.356%	$46K	$426K	25x	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	+0.0274%	4h	0.03954	+0.670%	$4K	$89K	—	as long as short
Bybit SAGAUSDT	+0.0419%	4h	0.03947	+0.489%	$3.8M	$16.1M	20x	as long as short
BingX SAGA-USDT	+0.0516%	4h	0.03948	+0.509%	—	$2.1M	—	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.1019%	1h	0.03946	+0.458%	$3K	$28	10x