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 +0.019%

Price spread now: Bybit against Variational Omni−0.352%7-day average +0.171% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 3 days (all we have)−0.287%−$29 · spread now −0.352%, 7d avg +0.171%

Together, before fees−0.268%+ Points / potential airdropVariational Omni: Active · farm board−$27 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: Bybit is 0.523% cheaper against Variational Omni than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of +0.171%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SAGA	0.03826	0.0100	pay 0.0050% / 4h	1h 55m	$6K	$112K	—
Short	Bybit SAGAUSDT	0.03813	0.0100	get 0.0050% / 4h	1h 55m	$3.7M	$19.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.352%Rate

Funding earned: $0
Price spread: −0.352% → +0.171%: −$52.3
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.3
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 29 min ago; Bybit: live order book, 3 min ago. 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 Variational Omni RFQ quote, 29 min ago	5.01 bp	doesn't fit	132.8 bp −$1,328	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.44 bp	39.6 bp −$40	115.3 bp −$1,153	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
Coinbase International SAGA-PERP-INTX	−0.0168%	1h	0.03842	+0.411%	$49K	$440K	25x	as long as short
BloFin SAGA-USDT	+0.0065%	4h	0.03813	−0.347%	$975K	$469K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03803	−0.608%	$2.1M	$344K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03813	−0.356%	$69K	$973K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03813	−0.347%	$18.9M	$143.4M	20x	as long as short
Bybit SAGAUSDTshort	+0.0100%	4h	0.03813	−0.352%	$3.7M	$19.9M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03822	−0.112%	$5.9M	$9.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03814	−0.321%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03815	−0.295%	$854K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03820	−0.164%	—	$2.2M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGAlong	+0.0100%	4h	0.03826	long leg	$6K	$112K	—
Extended SAGA-USD	+0.0104%	1h	0.03813	−0.338%	$3K	$159K	5x	as long as short
Kraken Futures PF_SAGAUSD	+0.0189%	1h	0.03809	−0.445%	$76K	$723K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0537%	1h	0.03813	−0.347%	$3K	$28	10x	as long as short