Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0919%/8h= +100.7% APRpaid last 24h +0.127%

Price spread now: Deribit against Aster−0.069%55s7-day average — · you buy dearer than you sell

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

Long on Aster 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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.069% cheaper against Aster than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$28 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03947	0.0100	pay 0.0050% / 4h	3h 33m	$71K	$884K	5x
Short	Deribit SAGA_USDC-PERPETUAL	0.03944	0.1019	get 0.0127% / 1h	33m 24s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now −0.069%Rate

Funding earned: $193.07
Price spread: −0.069% → 0.000%: −$6.87
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $171.19
Costs to cover: 0.150%
Break-even: 0.8 days

Slippage unknown: Aster: live order book, 35 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 Aster live order book, 35 min ago	12.76 bp	33.3 bp −$33	208.2 bp −$2,082	doesn't fit	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
Kraken Futures PF_SAGAUSD	−0.0688%	1h	0.03941	−0.144%	$70K	$681K	20x	as long as short
KuCoin SAGAUSDTM	+0.0074%	4h	0.03946	−0.018%	$783K	$3.0M	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03911	−0.905%	$47K	$428K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03933	−0.347%	$2.2M	$317K	3x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03947	long leg	$71K	$884K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03939	−0.198%	$19.5M	$125.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03956	+0.235%	$6.1M	$8.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03941	−0.145%	$2.6M	$5.9M	50x	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03922	−0.617%	$4K	$100K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03938	−0.218%	$4K	$146K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0132%	4h	0.03912	−0.880%	$998K	$364K	20x	as long as short
BingX SAGA-USDT	+0.0300%	4h	0.03942	−0.119%	—	$2.1M	—	as long as short
Bybit SAGAUSDT	+0.0760%	4h	0.03943	−0.084%	$3.8M	$17.0M	20x	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.1019%	1h	0.03944	−0.069%	$3K	$28	10x