Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.455%

Price spread now: Coinbase International against MEXC−0.102%7-day average −1.446% · you buy dearer than you sell

Net, funding: paid 7d − costs−$817as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$3623.617% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−4.552%−$455 on $10k

Price spread, last 3 days (all we have)+0.379%+$38 · spread now −0.102%, 7d avg −1.446%

Together, before fees−4.173%−$417 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: Coinbase International is 1.343% dearer against MEXC than usual: you sell high and buy low, +$134 on $10k if it goes back to its 7-day average of −1.446%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.03915	0.0100	pay 0.0050% / 4h	2h 23m	$2.6M	$5.4M	50x
Short	Coinbase International SAGA-PERP-INTX	0.03911	0.0104	get 0.0013% / 1h	23m 35s	$46K	$405K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now −0.102%Rate

Funding earned: $0.84
Price spread: −0.102% → −1.446%: $134.35
Slippage, 4 orders: −$347.67
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$226.48
Costs to cover: 3.617%
Break-even: 1894.4 days

Slippage from MEXC: live order book, 4 min ago; Coinbase International: live order book, 44 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 MEXC live order book, 4 min ago	1.29 bp	16.4 bp −$16	59.7 bp −$597	650.6 bp −$65.1K	doesn't fit
Sell Coinbase International live order book, 44 min ago	11.55 bp	72.8 bp −$73	doesn't fit	doesn't fit	doesn't fit

SAGA on 13 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
Hyperliquid SAGA	−0.0790%	1h	0.03883	−0.817%	$2.2M	$289K	3x	as long as short
Kraken Futures PF_SAGAUSD	−0.0039%	1h	0.03914	−0.038%	$70K	$652K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03918	+0.072%	$70K	$834K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03916	+0.023%	$19.4M	$113.4M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03916	+0.038%	$3.8M	$15.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03933	+0.460%	$6.0M	$8.3M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.03915	long leg	$2.6M	$5.4M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03914	−0.026%	$773K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03912	−0.077%	—	$2.0M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03915	−0.003%	$5K	$138K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTXshort	+0.0104%	1h	0.03911	−0.102%	$46K	$405K	25x
Variational Omni SAGA	+0.0132%	4h	0.03884	−0.795%	$4K	$73K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1029%	1h	0.03915	0.000%	$3K	$28	10x	as long as short