Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.084%

Price spread now: MEXC against KuCoin−0.229%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$250as in the Funding arb table

Net, price: spread back to 7d avg − costs−$270as in the Price arb table

costs, in and out, $10k−$2482.478% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days+0.228%+$23 · spread now −0.229%, 7d avg −0.007%

Together, before fees+0.205%+$21 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: MEXC is 0.222% cheaper against KuCoin than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SAGAUSDTM	0.03932	0.0100	pay 0.0050% / 4h	1h 52m	$775K	$2.4M	20x
Short	MEXC SAGA_USDT	0.03923	0.0100	get 0.0050% / 4h	1h 52m	$2.7M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.229%Rate

Funding earned: $0
Price spread: −0.229% → −0.007%: −$22.18
Slippage, 4 orders: −$231.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$269.99
Costs to cover: 2.478%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago	22.79 bp	98.4 bp −$98	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.27 bp	15.9 bp −$16	74.2 bp −$742	614.1 bp −$61.4K	doesn't fit

SAGA on 14 exchanges

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	−0.0854%	1h	0.03926	−0.156%	$72K	$469K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03923	−0.229%	$2.1M	$203K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03934	+0.061%	$70K	$567K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03932	−0.010%	$19.1M	$87.1M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03924	−0.203%	$3.7M	$14.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03945	+0.331%	$6.0M	$6.8M	20x	as long as short
MEXC SAGA_USDTshort	+0.0100%	4h	0.03923	−0.229%	$2.7M	$4.0M	50x
KuCoin SAGAUSDTMlong	+0.0100%	4h	0.03932	long leg	$775K	$2.4M	20x
BingX SAGA-USDT	+0.0100%	4h	0.03935	+0.076%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03921	−0.286%	$4K	$32K	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03925	−0.170%	$2K	$181K	5x	as long as short
BloFin SAGA-USDT	+0.0153%	4h	0.03931	−0.025%	$986K	$256K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.03922	−0.254%	$39K	$331K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0514%	1h	0.03931	−0.025%	$3K	$124	10x	as long as short