Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.028%

Price spread now: Extended against Variational Omni+0.034%7-day average +0.123% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 3 days (all we have)−0.383%−$38 · spread now +0.034%, 7d avg +0.123%

Together, before fees−0.393%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.089% cheaper against Variational Omni than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.123%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SAGA	0.03902	0.0165	pay 0.0083% / 4h	2h 30m	$4K	$74K	—
Short	Extended SAGA-USD	0.03903	0.0104	get 0.0013% / 1h	30m 13s	$2K	$134K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$12.82
Price spread: +0.034% → +0.123%: −$8.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$26.73
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Extended: live order book, 35 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 no order-book sample	—	—	—	—	—
Sell Extended live order book, 35 min ago	6.51 bp	46.7 bp −$47	325.4 bp −$3,254	doesn't fit	doesn't fit

Variational Omni: 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 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	−0.0987%	1h	0.03880	−0.561%	$2.2M	$290K	3x	as long as short
Kraken Futures PF_SAGAUSD	−0.0039%	1h	0.03900	−0.037%	$69K	$652K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03901	−0.015%	$70K	$834K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03908	+0.145%	$19.3M	$114.4M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03909	+0.182%	$3.8M	$15.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03916	+0.361%	$6.0M	$8.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03906	+0.105%	$2.6M	$5.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03901	−0.023%	$770K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03906	+0.105%	—	$2.0M	—	as long as short
Extended SAGA-USDshort	+0.0104%	1h	0.03903	+0.034%	$2K	$134K	5x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTX	+0.0104%	1h	0.03894	−0.202%	$46K	$409K	25x	as long as short
Variational Omni SAGAlong	+0.0165%	4h	0.03902	long leg	$4K	$74K	—
Deribit SAGA_USDC-PERPETUAL	+0.1288%	1h	0.03906	+0.105%	$3K	$28	10x	as long as short