Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.015%

Price spread now: KuCoin against Kraken Futures+0.206%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$281as in the Price arb table

costs, in and out, $10k−$2962.957% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.994%+$199 on $10k

Price spread, last 4 days (all we have)+1.195%+$120 · spread now +0.206%, 7d avg +0.064%

Together, before fees+3.190%+$319 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.142% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.206% now, against its 7-day average of +0.064%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days. Mind the row above: over the last 7 days funding on this pair paid +1.994%, 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	0.03900	0.0133	pay 0.0017% / 1h	5m 46s	$70K	$639K	20x
Short	KuCoin SAGAUSDTM	0.03908	0.0100	get 0.0050% / 4h	1h 05m	$776K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.206%Rate

Funding earned: −$6.98
Price spread: +0.206% → +0.064%: $14.23
Slippage, 4 orders: −$273.67
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$288.42
Costs to cover: 2.957%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 57 min ago; KuCoin: 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 Kraken Futures live order book, 57 min ago	22.66 bp	35.1 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	16.64 bp	98.3 bp −$98	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
Coinbase International SAGA-PERP-INTX	+0.0064%	1h	0.03898	−0.050%	$45K	$380K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03886	−0.358%	$2.1M	$269K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03903	+0.084%	$69K	$789K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03914	+0.360%	$19.4M	$103.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03918	+0.463%	$6.0M	$7.9M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03912	+0.309%	$2.5M	$4.9M	50x	as long as short
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.03908	+0.206%	$776K	$2.6M	20x
BingX SAGA-USDT	+0.0100%	4h	0.03909	+0.232%	—	$2.0M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03904	+0.104%	$5K	$129K	5x	as long as short
BloFin SAGA-USDT	+0.0128%	4h	0.03890	−0.255%	$994K	$216K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SAGAUSDlong	+0.0133%	1h	0.03900	long leg	$70K	$639K	20x
Bybit SAGAUSDT	+0.0140%	4h	0.03915	+0.383%	$3.9M	$14.4M	20x	as long as short
Variational Omni SAGA	+0.0205%	4h	0.03913	+0.330%	$4K	$51K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1286%	1h	0.03912	+0.309%	$3K	$28	10x	as long as short