SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1158%/8h= −126.8% APRnext payment −$1.45 per $10,000 · paid last 24h −0.288%

Price spread now: Hyperliquid against Deribit−0.301%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Hyperliquid is 0.301% cheaper against Deribit than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SAGA_USDC-PERPETUAL	0.03985	0.1258	pay 0.0157% / 1h	53m 09s	$3K	—	10x
Short	Hyperliquid SAGA	0.03973	0.0100	get 0.0013% / 1h	53m 09s	$2.2M	$254K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee HyperliquidbpOrdersPrice spread, now −0.301%Rate

Funding earned: −$243.19
Price spread: −0.301% → 0.000%: −$30.11
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$289.3
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 8 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 8 min ago	1.27 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_SAGAUSD	+0.0097%	1h	0.03971	−0.343%	$74K	$624K	20x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03973	−0.301%	$2.2M	$254K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03979	−0.146%	$69K	$738K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03982	−0.075%	$19.6M	$97.1M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03992	+0.176%	$6.0M	$7.5M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03980	−0.125%	$2.6M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03981	−0.100%	$764K	$2.5M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03982	−0.077%	$2K	$191K	5x	as long as short
BloFin SAGA-USDT	+0.0112%	4h	0.03998	+0.326%	$996K	$213K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0176%	1h	0.03971	−0.351%	$44K	$380K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0605%	4h	0.03968	−0.424%	$4K	$45K	—	as long as short
BingX SAGA-USDT	+0.0742%	4h	0.03980	−0.125%	—	$1.9M	—	as long as short
Bybit SAGAUSDT	+0.0876%	4h	0.03982	−0.080%	$3.9M	$14.2M	20x	as long as short
Deribit SAGA_USDC-PERPETUALlong	+0.1258%	1h	0.03985	long leg	$3K	—	10x