Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0686%/8h= +75.1% APRpaid last 24h +0.106%

Price spread now: Deribit against MEXC0.000%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.03866	0.0100	pay 0.0050% / 4h	1h 30m	$2.6M	$6.5M	50x
Short	Deribit SAGA_USDC-PERPETUAL	0.03866	0.0786	get 0.0098% / 1h	30m 29s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $144
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $133
Costs to cover: 0.110%
Break-even: 0.5 days

Slippage unknown: MEXC: live order book, 2 min ago; Deribit: 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 MEXC live order book, 2 min ago	1.29 bp	17.7 bp −$18	56.2 bp −$562	545.9 bp −$54.6K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Coinbase International SAGA-PERP-INTX	−0.0168%	1h	0.03851	−0.388%	$49K	$436K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03863	−0.078%	$2.1M	$342K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03869	+0.079%	$74K	$941K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03868	+0.051%	$19.1M	$141.1M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03870	+0.096%	$3.7M	$19.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03887	+0.543%	$6.0M	$9.3M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.03866	long leg	$2.6M	$6.5M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03871	+0.129%	$874K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03872	+0.155%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03864	−0.059%	$6K	$112K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03867	+0.033%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0146%	4h	0.03860	−0.155%	$983K	$449K	20x	as long as short
Kraken Futures PF_SAGAUSD	+0.0186%	1h	0.03863	−0.088%	$70K	$728K	20x	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.0786%	1h	0.03866	0.000%	$3K	$28	10x