SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0658%/8h= −72.1% APRnext payment −$0.82 per $10,000 · paid last 24h +0.662%

Price spread now: Kraken Futures against Coinbase International+0.039%7-day average +1.350% · you sell dearer than you buy

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$616as in the Price arb table

costs, in and out, $10k−$4854.854% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.658%+$266 on $10k

Price spread, last 3 days (all we have)−1.325%−$132 · spread now +0.039%, 7d avg +1.350%

Together, before fees+1.333%+$133 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Kraken Futures is 1.310% cheaper against Coinbase International than usual: you would sell low and buy high (−$131 if the spread goes back to its 7-day average of +1.350%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.658%, 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	0.03931	−0.0104	get 0.0013% / 1h	38m 12s	$49K	$436K	25x
Short	Kraken Futures PF_SAGAUSD	0.03933	−0.0762	pay 0.0095% / 1h	38m 12s	$71K	$724K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$138.24
Price spread: +0.039% → +1.350%: −$131.04
Slippage, 4 orders: −$465.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$754.72
Costs to cover: 4.854%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 40 min ago; Kraken Futures: live order book, 40 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, 40 min ago	53.42 bp	252.3 bp −$252	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 40 min ago	28.08 bp	53.6 bp −$54	doesn't fit	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_SAGAUSDshort	−0.0762%	1h	0.03933	+0.039%	$71K	$724K	20x
Coinbase International SAGA-PERP-INTXlong	−0.0104%	1h	0.03931	long leg	$49K	$436K	25x
BloFin SAGA-USDT	+0.0063%	4h	0.03937	+0.153%	$1.0M	$450K	20x	as long as short
KuCoin SAGAUSDTM	+0.0092%	4h	0.03938	+0.178%	$821K	$3.1M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03934	+0.076%	$2.2M	$323K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03932	+0.033%	$71K	$904K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03939	+0.204%	$19.5M	$136.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03943	+0.293%	$3.8M	$18.7M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03954	+0.585%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03937	+0.153%	$2.7M	$6.1M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0100%	4h	0.03941	+0.254%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03920	−0.281%	$4K	$113K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03940	+0.235%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1274%	1h	0.03943	+0.305%	$3K	$28	10x	as long as short