Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.034%

Price spread now: KuCoin against Hyperliquid+0.509%7-day average +0.189% · you sell dearer than you buy

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.938%+$94 on $10k

Price spread, last 7 days−0.419%−$42 · spread now +0.509%, 7d avg +0.189%

Together, before fees+0.518%+ Points / potential airdropHyperliquid: Season 2 · farm board+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and KuCoin is 0.320% dearer against Hyperliquid than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.189%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03931	−0.0033	get 0.0004% / 1h	58m 06s	$2.1M	$202K	3x
Short	KuCoin SAGAUSDTM	0.03951	0.0100	get 0.0050% / 4h	1h 58m	$779K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. 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 HyperliquidbpFee KuCoinbpOrdersPrice spread, now +0.509%Rate

Funding earned: $27.95
Price spread: +0.509% → +0.189%: $31.97
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $38.92
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 6 min ago; KuCoin: live order book, 2 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, 6 min ago	1.29 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	19.08 bp	111.5 bp −$111	doesn't fit	doesn't fit	doesn't fit

SAGA on 14 exchanges

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	−0.0849%	1h	0.03948	+0.431%	$73K	$470K	20x	as long as short
Hyperliquid SAGAlong	−0.0033%	1h	0.03931	long leg	$2.1M	$202K	3x
BloFin SAGA-USDT	+0.0050%	4h	0.03927	−0.102%	$990K	$257K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03954	+0.591%	$70K	$568K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03951	+0.509%	$19.2M	$87.3M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03954	+0.580%	$3.8M	$14.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03970	+0.992%	$6.0M	$6.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03952	+0.534%	$2.8M	$4.0M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.03951	+0.509%	$779K	$2.4M	20x
BingX SAGA-USDT	+0.0100%	4h	0.03954	+0.585%	—	$1.9M	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.03918	−0.319%	$4K	$32K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03950	+0.478%	$2K	$181K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.03941	+0.254%	$39K	$337K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1017%	1h	0.03952	+0.534%	$3K	$124	10x	as long as short