Funding you earn now, next payment 04:00 UTC+0.0572%/8h= +62.6% APRnext payment +$2.86 per $10,000 · paid last 24h +0.052%
Price spread now: Bybit against Binance+0.057%7-day average +0.083% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$111as in the Price arb table
costs, in and out, $10k−$1081.079% of the position
Funding, last 7 days+0.037%+$4 on $10k
+Price spread, last 7 days+0.071%+$7 · spread now +0.057%, 7d avg +0.083%
=Funding pays, the price is against you. Bybit is 0.026% cheaper against Binance than usual: you would sell low and buy high (spread +0.057% now, against its 7-day average of +0.083%). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.037% in total) that is about 5.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.037% in total (about 1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.86 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SAGAUSDT | 0.03922 | 0.0100 | pay 0.0050% / 4h | 3h 31m | $19.4M | $125.7M | 20x |
| Short | Bybit SAGAUSDT | 0.03924 | 0.0672 | get 0.0336% / 4h | 3h 31m | $3.8M | $17.0M | 20x |
Binance SAGAUSDT
Bybit SAGAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $120.09
- Price spread: +0.057% → +0.083%
- −$2.64
- Slippage, 4 orders
- −$86.9
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $9.55
- Costs to cover
- 1.079%
- Break-even
- 6.4 days
Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 2 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 Binance live order book, 11 min ago | 2.53 bp | 21.6 bp −$22 | 114.0 bp −$1,140 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 2.03 bp | 38.0 bp −$38 | 110.9 bp −$1,109 | 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 | −0.0690% | 1h | 0.03929 | +0.178% | $70K | $681K | 20x | as long as short |
| KuCoin SAGAUSDTM | +0.0078% | 4h | 0.03932 | +0.250% | $780K | $3.0M | 20x | as long as short |
| BloFin SAGA-USDT | +0.0079% | 4h | 0.03912 | −0.260% | $998K | $363K | 20x | as long as short |
| Coinbase International SAGA-PERP-INTX | +0.0088% | 1h | 0.03932 | +0.250% | $47K | $431K | 25x | as long as short |
| Hyperliquid SAGA | +0.0100% | 1h | 0.03922 | −0.005% | $2.2M | $317K | 3x | as long as short |
| Aster SAGAUSDT | +0.0100% | 4h | 0.03934 | +0.305% | $71K | $884K | 5x | as long as short |
| Binance SAGAUSDTlong | +0.0100% | 4h | 0.03922 | long leg | $19.4M | $125.7M | 20x | |
| Gate SAGA_USDT | +0.0100% | 4h | 0.03949 | +0.684% | $6.1M | $8.6M | 20x | as long as short |
| MEXC SAGA_USDT | +0.0100% | 4h | 0.03930 | +0.199% | $2.6M | $5.9M | 50x | as long as short |
| Variational Omni SAGA | +0.0100% | 4h | 0.03922 | +0.004% | $4K | $100K | — | as long as short |
Kraken Futures PF_SAGAUSD
KuCoin SAGAUSDTM
BloFin SAGA-USDT
Coinbase International SAGA-PERP-INTX
Hyperliquid SAGA
Aster SAGAUSDT
Gate SAGA_USDT
MEXC SAGA_USDT
Variational Omni SAGAShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended SAGA-USD | +0.0104% | 1h | 0.03928 | +0.161% | $4K | $143K | 5x | as long as short |
| Bybit SAGAUSDTshort | +0.0672% | 4h | 0.03924 | +0.057% | $3.8M | $17.0M | 20x | |
| BingX SAGA-USDT | +0.0702% | 4h | 0.03935 | +0.327% | — | $2.1M | — | as long as short |
| Deribit SAGA_USDC-PERPETUAL | +0.1533% | 1h | 0.03934 | +0.301% | $3K | $28 | 10x | as long as short |
Extended SAGA-USD
BingX SAGA-USDT
Deribit SAGA_USDC-PERPETUAL