Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.052%

Price spread now: Extended against Bybit−0.141%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1661.659% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.141%, 7d avg −0.036%

Together, before fees+0.087%+ Points / potential airdropExtended: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Extended is 0.105% cheaper against Bybit than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.04277	0.0209	pay 0.0105% / 4h	1h 48m	$4.3M	$14.4M	20x
Short	Extended SAGA-USD	0.04271	0.0104	get 0.0013% / 1h	48m 40s	$4K	$198K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$22.06
Price spread: −0.141% → −0.036%: −$10.48
Slippage, 4 orders: −$149.93
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$198.47
Costs to cover: 1.659%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Extended: live order book, 57 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 Bybit live order book, 5 min ago	0.24 bp	26.4 bp −$26	117.7 bp −$1,177	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	6.67 bp	49.5 bp −$50	370.7 bp −$3,707	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
Hyperliquid SAGA	−0.3860%	1h	0.04224	−1.232%	$2.3M	$258K	3x	as long as short
Kraken Futures PF_SAGAUSD	−0.0603%	1h	0.04253	−0.557%	$79K	$587K	20x	as long as short
BloFin SAGA-USDT	+0.0083%	4h	0.04248	−0.671%	$1.1M	$229K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04267	−0.227%	$74K	$715K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04269	−0.185%	$21.2M	$97.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04282	+0.124%	$6.5M	$7.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04271	−0.133%	$3.0M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04268	−0.203%	$857K	$2.5M	20x	as long as short
Extended SAGA-USDshort	+0.0104%	1h	0.04271	−0.141%	$4K	$198K	5x
Bybit SAGAUSDTlong	+0.0209%	4h	0.04277	long leg	$4.3M	$14.4M	20x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0232%	4h	0.04273	−0.087%	—	$1.9M	—	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.04271	−0.133%	$46K	$406K	25x	as long as short
Variational Omni SAGA	+0.0356%	4h	0.04233	−1.017%	$6K	$43K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0923%	1h	0.04266	−0.250%	$4K	—	10x	as long as short