Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.528%

Price spread now: Gate against Hyperliquid+0.392%7-day average +0.344% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$254as in the Price arb table

costs, in and out, $10k−$2592.587% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.741%+$174 on $10k

Price spread, last 7 days−0.339%−$34 · spread now +0.392%, 7d avg +0.344%

Together, before fees+1.401%+ Points / potential airdropHyperliquid: Season 2 · farm board+$140 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: Gate is 0.048% dearer against Hyperliquid than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.344%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03822	0.0100	pay 0.0013% / 1h	57m 20s	$2.1M	$344K	3x
Short	Gate SAGA_USDT	0.03837	0.0100	get 0.0050% / 4h	1h 57m	$5.9M	$9.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.392%Rate

Funding earned: $0
Price spread: +0.392% → +0.344%: $4.84
Slippage, 4 orders: −$234.72
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$253.88
Costs to cover: 2.587%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Gate: live order book, 1 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, 4 min ago	1.31 bp	48.6 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	9.16 bp	94.6 bp −$95	384.2 bp −$3,842	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
Coinbase International SAGA-PERP-INTX	−0.0168%	1h	0.03830	+0.209%	$49K	$439K	25x	as long as short
BloFin SAGA-USDT	+0.0095%	4h	0.03830	+0.209%	$973K	$474K	20x	as long as short
Hyperliquid SAGAlong	+0.0100%	1h	0.03822	long leg	$2.1M	$344K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03831	+0.236%	$69K	$973K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03834	+0.318%	$19.0M	$143.9M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03834	+0.324%	$3.7M	$20.0M	20x	as long as short
Gate SAGA_USDTshort	+0.0100%	4h	0.03837	+0.392%	$5.9M	$9.2M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03831	+0.235%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03832	+0.262%	$859K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03836	+0.366%	—	$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 SAGA	+0.0100%	4h	0.03840	+0.464%	$6K	$112K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03834	+0.324%	$3K	$159K	5x	as long as short
Kraken Futures PF_SAGAUSD	+0.0188%	1h	0.03829	+0.194%	$76K	$726K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1055%	1h	0.03837	+0.392%	$3K	$28	10x	as long as short