Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0193%/8h= −21.1% APRpaid last 24h +0.217%

Price spread now: BloFin against Coinbase International+0.711%7-day average +1.362% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$619as in the Price arb table

costs, in and out, $10k−$5545.543% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+4.533%+$453 on $10k

Price spread, last 4 days (all we have)−1.609%−$161 · spread now +0.711%, 7d avg +1.362%

Together, before fees+2.924%+$292 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.651% cheaper against Coinbase International than usual: you would sell low and buy high (−$65 if the spread goes back to its 7-day average of +1.362%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +4.533%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.04222	0.0296	pay 0.0037% / 1h	25m 05s	$45K	$403K	25x
Short	BloFin SAGA-USDT	0.04252	0.0103	get 0.0052% / 4h	1h 25m	$1.1M	$286K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.711%Rate

Funding earned: −$40.47
Price spread: +0.711% → +1.362%: −$65.13
Slippage, 4 orders: −$532.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$659.91
Costs to cover: 5.543%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 18 min ago; BloFin: 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 Coinbase International live order book, 18 min ago	49.15 bp	216.7 bp −$217	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.17 bp	20.7 bp −$21	121.8 bp −$1,218	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	−0.2426%	1h	0.04226	+0.095%	$2.3M	$261K	3x	as long as short
Kraken Futures PF_SAGAUSD	−0.0604%	1h	0.04247	+0.594%	$79K	$565K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04248	+0.605%	$63K	$713K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04248	+0.616%	$21.0M	$99.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04254	+0.758%	$6.4M	$7.5M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04244	+0.521%	$3.2M	$4.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04253	+0.734%	$950K	$2.6M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04278	+1.326%	—	$2.0M	—	as long as short
BloFin SAGA-USDTshort	+0.0103%	4h	0.04252	+0.711%	$1.1M	$286K	20x
Extended SAGA-USD	+0.0104%	1h	0.04241	+0.450%	$4K	$174K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0116%	4h	0.04247	+0.580%	$4.2M	$14.9M	20x	as long as short
Variational Omni SAGA	+0.0216%	4h	0.04235	+0.305%	$6K	$42K	—	as long as short
Coinbase International SAGA-PERP-INTXlong	+0.0296%	1h	0.04222	long leg	$45K	$403K	25x
Deribit SAGA_USDC-PERPETUAL	+0.0694%	1h	0.04242	+0.474%	$4K	—	10x	as long as short