SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0083%/8h= +9.1% APRnext payment +$0.10 per $10,000 · paid last 24h −0.173%

Price spread now: Coinbase International against Kraken Futures+0.236%7-day average −1.246% · you sell dearer than you buy

Net, funding: paid 7d − costs−$699as in the Funding arb table

Net, price: spread back to 7d avg − costs−$297as in the Price arb table

costs, in and out, $10k−$4464.456% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−2.532%−$253 on $10k

Price spread, last 4 days (all we have)+1.049%+$105 · spread now +0.236%, 7d avg −1.246%

Together, before fees−1.483%−$148 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 1.483% dearer against Kraken Futures than usual: you sell high and buy low: +$148 more if the spread goes back to its 7-day average of −1.246%. Mind the row above: over the last 7 days funding on this pair cost −2.532%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SAGAUSD	0.04160	0.0093	pay 0.0012% / 1h	14m 15s	$77K	$616K	20x
Short	Coinbase International SAGA-PERP-INTX	0.04170	0.0176	get 0.0022% / 1h	14m 15s	$46K	$398K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.236%Rate

Funding earned: $17.52
Price spread: +0.236% → −1.246%: $148.29
Slippage, 4 orders: −$425.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$279.79
Costs to cover: 4.456%
Break-even: 118.8 days

Slippage from Kraken Futures: live order book, 34 min ago; Coinbase International: live order book, 34 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, 34 min ago	29.04 bp	43.8 bp −$44	394.5 bp −$3,945	doesn't fit	doesn't fit
Sell Coinbase International live order book, 34 min ago	59.10 bp	120.9 bp −$121	doesn't fit	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	−0.0053%	1h	0.04142	−0.437%	$2.3M	$258K	3x	as long as short
Kraken Futures PF_SAGAUSDlong	+0.0093%	1h	0.04160	long leg	$77K	$616K	20x
Aster SAGAUSDT	+0.0100%	4h	0.04159	−0.035%	$71K	$727K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04158	−0.059%	$20.6M	$97.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04174	+0.333%	$6.3M	$7.7M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04158	−0.052%	$2.9M	$4.2M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04177	+0.405%	$828K	$2.5M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04159	−0.035%	$4K	$192K	5x	as long as short
BloFin SAGA-USDT	+0.0145%	4h	0.04183	+0.549%	$1.1M	$216K	20x	as long as short
Coinbase International SAGA-PERP-INTXshort	+0.0176%	1h	0.04170	+0.236%	$46K	$398K	25x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0260%	4h	0.04164	+0.102%	$4.1M	$14.3M	20x	as long as short
BingX SAGA-USDT	+0.0326%	4h	0.04163	+0.068%	—	$2.0M	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0472%	1h	0.04161	+0.020%	$3K	—	10x	as long as short
Variational Omni SAGA	+0.0474%	4h	0.04187	+0.649%	$6K	$46K	—	as long as short