Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0961%/8h= +105.2% APRpaid last 24h +0.106%

Price spread now: Variational Omni against Kraken Futures+1.127%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Variational Omni is 1.127% dearer against Kraken Futures than usual: you sell high and buy low: +$113 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SAGAUSD	0.04068	−0.0861	get 0.0108% / 1h	13m 21s	$77K	$513K	20x
Short	Variational Omni SAGA	0.04114	0.0100	get 0.0050% / 4h	3h 13m	$4K	$34K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +1.127%Rate

Funding earned: $201.82
Price spread: +1.127% → 0.000%: $112.72
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $304.54
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 20 min ago; Variational Omni: no order-book sample. 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, 20 min ago	57.97 bp	72.6 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SAGAUSDlong	−0.0861%	1h	0.04068	long leg	$77K	$513K	20x
KuCoin SAGAUSDTM	+0.0056%	4h	0.04073	+0.114%	$816K	$2.6M	20x	as long as short
BloFin SAGA-USDT	+0.0066%	4h	0.04108	+0.975%	$1.0M	$280K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.04061	−0.181%	$2.2M	$239K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04071	+0.062%	$75K	$646K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04066	−0.064%	$19.9M	$93.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04068	−0.006%	$4.0M	$14.9M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04082	+0.336%	$6.1M	$7.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04068	−0.008%	$2.7M	$4.4M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04074	+0.139%	—	$1.9M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGAshort	+0.0100%	4h	0.04114	+1.127%	$4K	$34K	—
Extended SAGA-USD	+0.0104%	1h	0.04068	−0.014%	$342	$188K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0440%	1h	0.04100	+0.778%	$41K	$371K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0732%	1h	0.04077	+0.213%	$3K	$124	10x	as long as short