SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0910%/8h= −99.6% APRnext payment −$1.14 per $10,000 · paid last 24h −0.069%

Price spread now: Hyperliquid against Kraken Futures−0.234%7-day average −0.159% · you buy dearer than you sell

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

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+1.070%+$107 on $10k

Price spread, last 3 days (all we have)+0.639%+$64 · spread now −0.234%, 7d avg −0.159%

Together, before fees+1.708%+ Points / potential airdropHyperliquid: Season 2 · farm board+$171 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Hyperliquid is 0.074% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.159%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.070%, 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	0.03886	−0.0039	get 0.0005% / 1h	29m 05s	$69K	$652K	20x
Short	Hyperliquid SAGA	0.03877	−0.0949	pay 0.0119% / 1h	29m 05s	$2.2M	$288K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.234%Rate

Funding earned: −$191.08
Price spread: −0.234% → −0.159%: −$7.44
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$217.53
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 39 min ago; Hyperliquid: 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 Kraken Futures live order book, 39 min ago	44.91 bp	50.8 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.29 bp	5.8 bp −$6	doesn't fit	doesn't fit	doesn't fit

SAGA on 13 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 SAGAshort	−0.0949%	1h	0.03877	−0.234%	$2.2M	$288K	3x
Kraken Futures PF_SAGAUSDlong	−0.0039%	1h	0.03886	long leg	$69K	$652K	20x
Aster SAGAUSDT	+0.0100%	4h	0.03892	+0.152%	$69K	$834K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03891	+0.133%	$19.3M	$114.2M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03886	−0.002%	$3.8M	$15.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03908	+0.564%	$6.0M	$8.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03889	+0.075%	$2.6M	$5.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03891	+0.127%	$768K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03896	+0.255%	—	$2.0M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03890	+0.093%	$2K	$134K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTX	+0.0104%	1h	0.03894	+0.204%	$46K	$409K	25x	as long as short
Variational Omni SAGA	+0.0165%	4h	0.03902	+0.407%	$4K	$74K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1551%	1h	0.03893	+0.178%	$3K	$28	10x	as long as short