Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.146%

Price spread now: Gate against Extended−0.033%7-day average +0.171% · you buy dearer than you sell

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$299as in the Price arb table

costs, in and out, $10k−$2792.789% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.854%+$85 on $10k

Price spread, last 4 days (all we have)+0.156%+$16 · spread now −0.033%, 7d avg +0.171%

Together, before fees+1.009%+ Points / potential airdropExtended: Active · farm board+$101 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.204% cheaper against Extended than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.171%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.04061	0.0104	pay 0.0013% / 1h	57m 11s	$5K	$133K	5x
Short	Gate SAGA_USDT	0.04060	0.0100	get 0.0050% / 4h	1h 57m	$6.2M	$7.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.033%Rate

Funding earned: −$0.84
Price spread: −0.033% → +0.171%: −$20.37
Slippage, 4 orders: −$258.94
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$300.15
Costs to cover: 2.789%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Gate: live order book, 1 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 Extended live order book, 3 min ago	7.03 bp	43.3 bp −$43	312.1 bp −$3,121	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	8.70 bp	69.6 bp −$70	doesn't fit	doesn't fit	doesn't fit

SAGA on 13 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	−0.1096%	1h	0.04014	−1.166%	$2.2M	$280K	3x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0064%	1h	0.04048	−0.328%	$47K	$406K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04053	−0.208%	$72K	$807K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04054	−0.181%	$20.1M	$109.8M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04054	−0.171%	$4.0M	$15.0M	20x	as long as short
Gate SAGA_USDTshort	+0.0100%	4h	0.04060	−0.033%	$6.2M	$7.9M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.04054	−0.181%	$2.7M	$4.8M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04043	−0.452%	$801K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04040	−0.525%	—	$2.0M	—	as long as short
Extended SAGA-USDlong	+0.0104%	1h	0.04061	long leg	$5K	$133K	5x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0123%	4h	0.03973	−2.182%	$4K	$55K	—	as long as short
Kraken Futures PF_SAGAUSD	+0.0128%	1h	0.04055	−0.148%	$72K	$650K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1228%	1h	0.04067	+0.139%	$3K	$28	10x	as long as short