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 −0.033%

Price spread now: MEXC against Variational Omni+1.354%7-day average +0.114% · you sell dearer than you buy

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

Long on Variational Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−1.815%−$181 · spread now +1.354%, 7d avg +0.114%

Together, before fees−1.832%+ Points / potential airdropVariational Omni: Active · farm board−$183 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: MEXC is 1.240% dearer against Variational Omni than usual: you sell high and buy low, +$124 on $10k if it goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SAGA	0.03898	0.0100	pay 0.0050% / 4h	53m 21s	$6K	$112K	—
Short	MEXC SAGA_USDT	0.03951	0.0100	get 0.0050% / 4h	53m 21s	$2.7M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +1.354%Rate

Funding earned: $0
Price spread: +1.354% → +0.114%: $124
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: $120
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; MEXC: live order book, 9 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, 26 min ago	5.09 bp	doesn't fit	124.7 bp −$1,247	doesn't fit	doesn't fit
Sell MEXC live order book, 9 min ago	1.29 bp	15.0 bp −$15	101.8 bp −$1,018	717.6 bp −$71.8K	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	−0.0758%	1h	0.03954	+1.431%	$72K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03911	+0.328%	$49K	$434K	25x	as long as short
BloFin SAGA-USDT	+0.0044%	4h	0.03956	+1.482%	$988K	$453K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03947	+1.251%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03952	+1.375%	$75K	$912K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03953	+1.399%	$19.5M	$137.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03958	+1.531%	$3.8M	$18.9M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03970	+1.841%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDTshort	+0.0100%	4h	0.03951	+1.354%	$2.7M	$6.1M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03953	+1.405%	$824K	$3.1M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0100%	4h	0.03958	+1.533%	—	$2.2M	—	as long as short
Variational Omni SAGAlong	+0.0100%	4h	0.03898	long leg	$6K	$112K	—
Extended SAGA-USD	+0.0104%	1h	0.03951	+1.355%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0763%	1h	0.03953	+1.405%	$3K	$28	10x	as long as short