Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.169%

Price spread now: Hyperliquid against MEXC−0.436%7-day average −0.162% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.879%−$88 on $10k

Price spread, last 7 days+0.463%+$46 · spread now −0.436%, 7d avg −0.162%

Together, before fees−0.416%+ Points / potential airdropHyperliquid: Season 2 · farm board−$42 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: Hyperliquid is 0.274% cheaper against MEXC than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.03895	0.0100	pay 0.0050% / 4h	3h 17m	$2.6M	$6.0M	50x
Short	Hyperliquid SAGA	0.03878	0.0100	get 0.0013% / 1h	17m 59s	$2.2M	$315K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.436%Rate

Funding earned: $0
Price spread: −0.436% → −0.162%: −$27.45
Slippage, 4 orders: −$70.02
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$110.47
Costs to cover: 0.830%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Hyperliquid: live order book, 3 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, 5 min ago	2.57 bp	19.4 bp −$19	113.8 bp −$1,138	734.1 bp −$73.4K	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.29 bp	16.9 bp −$17	doesn't fit	doesn't fit	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	−0.0696%	1h	0.03894	−0.028%	$69K	$682K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03888	−0.180%	$46K	$424K	25x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03878	−0.436%	$2.2M	$315K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03891	−0.099%	$70K	$878K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03896	+0.026%	$19.3M	$123.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03911	+0.411%	$6.0M	$8.6M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.03895	long leg	$2.6M	$6.0M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03898	+0.077%	$771K	$2.9M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03894	−0.025%	$2K	$134K	5x	as long as short
BloFin SAGA-USDT	+0.0126%	4h	0.03883	−0.308%	$987K	$339K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0158%	4h	0.03912	+0.447%	$4K	$91K	—	as long as short
BingX SAGA-USDT	+0.0703%	4h	0.03901	+0.154%	—	$2.1M	—	as long as short
Bybit SAGAUSDT	+0.0890%	4h	0.03901	+0.154%	$3.8M	$16.7M	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1551%	1h	0.03893	−0.051%	$3K	$28	10x	as long as short