Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0836%/8h= −91.6% APRpaid last 24h +0.137%

Price spread now: Aster against Kraken Futures+0.006%7-day average +0.090% · 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−$146as in the Price arb table

costs, in and out, $10k−$1381.375% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+1.317%+$132 on $10k

Price spread, last 3 days (all we have)+0.909%+$91 · spread now +0.006%, 7d avg +0.090%

Together, before fees+2.226%+ Points / potential airdropAster: Stage 5 · farm board+$223 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Aster is 0.085% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.090%). Swap the legs. Mind the row above: over the last 5 days funding on this pair paid +1.317%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SAGAUSD	0.03965	0.0936	pay 0.0117% / 1h	32m 01s	$81K	$723K	20x
Short	Aster SAGAUSDT	0.03966	0.0100	get 0.0050% / 4h	2h 32m	$66K	$982K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$175.66
Price spread: +0.006% → +0.090%: −$8.46
Slippage, 4 orders: −$119.51
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$321.63
Costs to cover: 1.375%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 56 min ago; Aster: live order book, 51 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 Kraken Futures live order book, 56 min ago	20.70 bp	40.4 bp −$40	242.6 bp −$2,426	doesn't fit	doesn't fit
Sell Aster live order book, 51 min ago	13.34 bp	33.6 bp −$34	212.5 bp −$2,125	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
Hyperliquid SAGA	−0.0796%	1h	0.03955	−0.262%	$2.2M	$345K	3x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0288%	1h	0.03997	+0.797%	$51K	$448K	25x	as long as short
Aster SAGAUSDTshort	+0.0100%	4h	0.03966	+0.006%	$66K	$982K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03967	+0.041%	$19.8M	$147.8M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03969	+0.081%	$3.9M	$20.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03984	+0.470%	$6.1M	$9.4M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03963	−0.060%	$2.9M	$6.7M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03969	+0.091%	$904K	$3.2M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03967	+0.041%	—	$2.3M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03965	−0.013%	$3K	$159K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0119%	4h	0.03981	+0.394%	$1.0M	$521K	20x	as long as short
Variational Omni SAGA	+0.0136%	4h	0.04013	+1.210%	$6K	$113K	—	as long as short
Kraken Futures PF_SAGAUSDlong	+0.0936%	1h	0.03965	long leg	$81K	$723K	20x
Deribit SAGA_USDC-PERPETUAL	+0.1013%	1h	0.03965	−0.009%	$3K	$28	10x	as long as short