Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0694%/8h= +76.0% APRpaid last 24h +0.046%

Price spread now: Deribit against BingX0.000%7-day average — · you sell dearer than you buy

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

Long on BingX 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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SAGA-USDT	0.03834	0.0100	pay 0.0050% / 4h	2h 00m	—	$2.2M	—
Short	Deribit SAGA_USDC-PERPETUAL	0.03834	0.0794	get 0.0099% / 1h	0m 20s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $145.82
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $128.82
Costs to cover: 0.170%
Break-even: 0.8 days

Slippage unknown: BingX: live order book, 2 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 BingX live order book, 2 min ago	1.31 bp	19.9 bp −$20	112.2 bp −$1,122	577.9 bp −$57.8K	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
Coinbase International SAGA-PERP-INTX	−0.0288%	1h	0.03850	+0.417%	$49K	$441K	25x	as long as short
Hyperliquid SAGA	−0.0142%	1h	0.03825	−0.235%	$2.1M	$345K	3x	as long as short
BloFin SAGA-USDT	+0.0053%	4h	0.03820	−0.365%	$979K	$479K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03836	+0.043%	$69K	$973K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03832	−0.055%	$19.0M	$144.8M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03834	0.000%	$3.7M	$20.2M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03842	+0.209%	$5.9M	$9.5M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03831	−0.078%	$2.6M	$6.8M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03834	0.000%	$859K	$3.1M	20x	as long as short
BingX SAGA-USDTlong	+0.0100%	4h	0.03834	long leg	—	$2.2M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.03840	+0.149%	$6K	$112K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03831	−0.067%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.0794%	1h	0.03834	0.000%	$3K	$28	10x
Kraken Futures PF_SAGAUSD	+0.0971%	1h	0.03823	−0.289%	$76K	$727K	20x	as long as short