Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.147%

Price spread now: BingX against KuCoin−0.078%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$268as in the Price arb table

costs, in and out, $10k−$2552.546% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.078%, 7d avg +0.052%

Together, before fees0.000%$0 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: BingX is 0.130% cheaper against KuCoin than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SAGAUSDTM	0.03868	0.0100	pay 0.0050% / 4h	1h 28m	$873K	$3.1M	20x
Short	BingX SAGA-USDT	0.03865	0.0100	get 0.0050% / 4h	1h 28m	—	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → +0.052%: −$12.97
Slippage, 4 orders: −$232.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$267.61
Costs to cover: 2.546%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; BingX: live order book, 4 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	12.93 bp	104.3 bp −$104	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	1.29 bp	22.4 bp −$22	52.4 bp −$524	451.6 bp −$45.2K	976.2 bp −$488.1K

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	−0.0168%	1h	0.03841	−0.698%	$49K	$435K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03854	−0.362%	$2.1M	$341K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03863	−0.127%	$73K	$939K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03864	−0.103%	$19.1M	$141.1M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03862	−0.160%	$3.7M	$19.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03881	+0.336%	$6.0M	$9.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03863	−0.129%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTMlong	+0.0100%	4h	0.03868	long leg	$873K	$3.1M	20x
BingX SAGA-USDTshort	+0.0100%	4h	0.03865	−0.078%	—	$2.2M	—
Variational Omni SAGA	+0.0100%	4h	0.03869	+0.038%	$6K	$112K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0104%	4h	0.03857	−0.284%	$980K	$447K	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03863	−0.120%	$3K	$159K	5x	as long as short
Kraken Futures PF_SAGAUSD	+0.0186%	1h	0.03856	−0.310%	$70K	$728K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0788%	1h	0.03858	−0.259%	$3K	$28	10x	as long as short