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 −0.144%

Price spread now: Extended against Gate−0.148%7-day average −0.174% · you buy dearer than you sell

Net, funding: paid 7d − costs−$356as in the Funding arb table

Net, price: spread back to 7d avg − costs−$268as in the Price arb table

costs, in and out, $10k−$2712.711% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.852%−$85 on $10k

Price spread, last 4 days (all we have)+0.421%+$42 · spread now −0.148%, 7d avg −0.174%

Together, before fees−0.430%+ Points / potential airdropExtended: Active · farm board−$43 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: Extended is 0.026% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.174%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03901	0.0100	pay 0.0050% / 4h	1h 09m	$6.0M	$7.9M	20x
Short	Extended SAGA-USD	0.03895	0.0104	get 0.0013% / 1h	9m 06s	$5K	$129K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now −0.148%Rate

Funding earned: $0.84
Price spread: −0.148% → −0.174%: $2.63
Slippage, 4 orders: −$251.06
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$267.58
Costs to cover: 2.711%
Break-even: 2236.9 days

Slippage from Gate: live order book, 4 min ago; Extended: live order book, 52 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, 4 min ago	8.95 bp	105.0 bp −$105	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 52 min ago	7.03 bp	45.6 bp −$46	308.9 bp −$3,089	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-INTX	+0.0064%	1h	0.03889	−0.308%	$45K	$379K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03879	−0.564%	$2.1M	$269K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03892	−0.233%	$69K	$789K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03896	−0.129%	$19.3M	$103.7M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03898	−0.072%	$3.8M	$14.4M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03901	long leg	$6.0M	$7.9M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03895	−0.154%	$2.5M	$4.9M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03892	−0.231%	$772K	$2.6M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03898	−0.077%	—	$2.0M	—	as long as short
Extended SAGA-USDshort	+0.0104%	1h	0.03895	−0.148%	$5K	$129K	5x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0113%	4h	0.03890	−0.282%	$994K	$216K	20x	as long as short
Kraken Futures PF_SAGAUSD	+0.0134%	1h	0.03889	−0.299%	$70K	$639K	20x	as long as short
Variational Omni SAGA	+0.0159%	4h	0.03900	−0.013%	$4K	$52K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1548%	1h	0.03901	0.000%	$3K	$28	10x	as long as short