Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.087%

Price spread now: Binance against KuCoin+0.284%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$256as in the Funding arb table

Net, price: spread back to 7d avg − costs−$224as in the Price arb table

costs, in and out, $10k−$2532.526% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 7 days−0.316%−$32 · spread now +0.284%, 7d avg −0.006%

Together, before fees−0.347%−$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.290% dearer against KuCoin than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SAGAUSDTM	0.03880	0.0100	pay 0.0050% / 4h	43m 58s	$767K	$2.6M	20x
Short	Binance SAGAUSDT	0.03891	0.0100	get 0.0050% / 4h	43m 58s	$19.2M	$102.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now +0.284%Rate

Funding earned: $0
Price spread: +0.284% → −0.006%: $28.97
Slippage, 4 orders: −$230.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$223.67
Costs to cover: 2.526%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Binance: live order book, 14 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 KuCoin live order book, 3 min ago	12.75 bp	107.8 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	2.55 bp	22.3 bp −$22	103.0 bp −$1,030	735.0 bp −$73.5K	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
Kraken Futures PF_SAGAUSD	−0.0266%	1h	0.03873	−0.183%	$69K	$646K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03860	−0.515%	$44K	$375K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03848	−0.825%	$2.1M	$266K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03878	−0.044%	$69K	$789K	5x	as long as short
Binance SAGAUSDTshort	+0.0100%	4h	0.03891	+0.284%	$19.2M	$102.6M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03889	+0.232%	$5.9M	$7.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03882	+0.052%	$2.5M	$4.5M	50x	as long as short
KuCoin SAGAUSDTMlong	+0.0100%	4h	0.03880	long leg	$767K	$2.6M	20x
Extended SAGA-USD	+0.0104%	1h	0.03892	+0.300%	$2K	$129K	5x	as long as short
BloFin SAGA-USDT	+0.0140%	4h	0.03918	+0.979%	$995K	$215K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0144%	4h	0.03887	+0.180%	—	$2.0M	—	as long as short
Bybit SAGAUSDT	+0.0201%	4h	0.03894	+0.358%	$3.8M	$14.4M	20x	as long as short
Variational Omni SAGA	+0.0262%	4h	0.03919	+1.011%	$4K	$51K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1296%	1h	0.03886	+0.155%	$3K	$28	10x	as long as short