Funding you earn now, next payment 04:00 UTC−0.0342%/8h= −37.4% APRnext payment −$1.71 per $10,000 · paid last 24h −0.046%
Price spread now: BloFin against BingX+0.460%66s7-day average −0.138% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$970.968% of the position
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 3 days (all we have)−0.912%−$91 · spread now +0.460%, 7d avg −0.138%
=The price spread pays, funding is against you. BloFin is 0.598% dearer against BingX than usual: you sell high and buy low (spread +0.460% now, against its 7-day average of −0.138%): +$60 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 5.8 days. At the pace of the last 7 days (−0.052% in total) that is about 3 months. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.052% in total (about -2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.71 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 | BingX SAGA-USDT | 0.03915 | 0.0420 | pay 0.0210% / 4h | 3h 26m | — | $2.1M | — |
| Short | BloFin SAGA-USDT | 0.03933 | 0.0078 | get 0.0039% / 4h | 3h 26m | $993K | $351K | 20x |
BingX SAGA-USDT
BloFin SAGA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against BingX. 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
- −$71.72
- Price spread: +0.460% → −0.138%
- $59.8
- Slippage, 4 orders
- −$74.84
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$108.76
- Costs to cover
- 0.968%
- Break-even
- never at this rate
Slippage from BingX: live order book, 7 min ago; BloFin: live order book, 31 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 BingX live order book, 7 min ago | 2.54 bp | 26.8 bp −$27 | 110.6 bp −$1,106 | 709.7 bp −$71.0K | doesn't fit |
| Sell BloFin live order book, 31 min ago | 3.79 bp | 23.2 bp −$23 | 72.2 bp −$722 | 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 | −0.0695% | 1h | 0.03902 | −0.343% | $70K | $681K | 20x | as long as short |
| BloFin SAGA-USDTshort | +0.0078% | 4h | 0.03933 | +0.460% | $993K | $351K | 20x | |
| Coinbase International SAGA-PERP-INTX | +0.0088% | 1h | 0.03901 | −0.358% | $46K | $426K | 25x | as long as short |
| KuCoin SAGAUSDTM | +0.0098% | 4h | 0.03907 | −0.204% | $774K | $3.0M | 20x | as long as short |
| Hyperliquid SAGA | +0.0100% | 1h | 0.03897 | −0.460% | $2.2M | $315K | 3x | as long as short |
| Aster SAGAUSDT | +0.0100% | 4h | 0.03905 | −0.265% | $70K | $878K | 5x | as long as short |
| Binance SAGAUSDT | +0.0100% | 4h | 0.03906 | −0.236% | $19.3M | $125.2M | 20x | as long as short |
| Gate SAGA_USDT | +0.0100% | 4h | 0.03922 | +0.179% | $6.0M | $8.6M | 20x | as long as short |
| MEXC SAGA_USDT | +0.0100% | 4h | 0.03905 | −0.255% | $2.6M | $5.9M | 50x | as long as short |
| Extended SAGA-USD | +0.0104% | 1h | 0.03905 | −0.261% | $2K | $134K | 5x | as long as short |
Kraken Futures PF_SAGAUSD
Coinbase International SAGA-PERP-INTX
KuCoin SAGAUSDTM
Hyperliquid SAGA
Aster SAGAUSDT
Binance SAGAUSDT
Gate SAGA_USDT
MEXC SAGA_USDT
Extended SAGA-USDShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SAGA | +0.0128% | 4h | 0.03909 | −0.143% | $4K | $91K | — | as long as short |
| BingX SAGA-USDTlong | +0.0420% | 4h | 0.03915 | long leg | — | $2.1M | — | |
| Bybit SAGAUSDT | +0.0575% | 4h | 0.03911 | −0.105% | $3.8M | $16.9M | 20x | as long as short |
| Deribit SAGA_USDC-PERPETUAL | +0.1032% | 1h | 0.03905 | −0.255% | $3K | $28 | 10x | as long as short |
Variational Omni SAGA
Bybit SAGAUSDT
Deribit SAGA_USDC-PERPETUAL