Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0268%/8h= −29.3% APRpaid last 24h −1.132%

Price spread now: Coinbase International against Gate−0.282%7-day average −1.675% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$425as in the Price arb table

costs, in and out, $10k−$5645.644% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−5.434%−$543 on $10k

Price spread, last 3 days (all we have)+0.864%+$86 · spread now −0.282%, 7d avg −1.675%

Together, before fees−4.570%−$457 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 1.393% dearer against Gate than usual: you sell high and buy low (spread −0.282% now, against its 7-day average of −1.675%): +$139 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 17 days. At the pace of the last 7 days (−5.434% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03902	0.0100	pay 0.0050% / 4h	1h 13m	$6.0M	$9.3M	20x
Short	Coinbase International SAGA-PERP-INTX	0.03891	−0.0168	pay 0.0021% / 1h	13m 37s	$49K	$438K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.282%Rate

Funding earned: −$56.28
Price spread: −0.282% → −1.675%: $139.34
Slippage, 4 orders: −$539.42
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$481.36
Costs to cover: 5.644%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Coinbase International: live order book, 4 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 Gate live order book, 5 min ago	8.89 bp	105.3 bp −$105	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	53.42 bp	126.4 bp −$126	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
Coinbase International SAGA-PERP-INTXshort	−0.0168%	1h	0.03891	−0.282%	$49K	$438K	25x
Hyperliquid SAGA	+0.0100%	1h	0.03884	−0.461%	$2.2M	$340K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03894	−0.210%	$74K	$935K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03887	−0.376%	$19.2M	$139.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03890	−0.310%	$3.7M	$19.2M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03902	long leg	$6.0M	$9.3M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03887	−0.384%	$2.6M	$6.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03888	−0.359%	$810K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03890	−0.308%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03906	+0.099%	$6K	$112K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03886	−0.404%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0136%	4h	0.03893	−0.231%	$979K	$450K	20x	as long as short
Kraken Futures PF_SAGAUSD	+0.0185%	1h	0.03885	−0.429%	$71K	$727K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0780%	1h	0.03889	−0.333%	$3K	$28	10x	as long as short