Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.4067%/8h= +445.3% APRpaid last 24h +0.174%

Price spread now: BingX against Hyperliquid+0.380%7-day average +0.212% · you sell dearer than you buy

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.953%+$95 on $10k

Price spread, last 7 days−0.186%−$19 · spread now +0.380%, 7d avg +0.212%

Together, before fees+0.767%+ Points / potential airdropHyperliquid: Season 2 · farm board+$77 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$122 a day on $10k at the current rate, and BingX is 0.168% dearer against Hyperliquid than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.212%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.953% in total (about 49.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03945	−0.0381	get 0.0048% / 1h	51m 47s	$2.2M	$258K	3x
Short	BingX SAGA-USDT	0.03960	0.3686	get 0.1843% / 4h	3h 51m	—	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now +0.380%Rate

Funding earned: $854.03
Price spread: +0.380% → +0.212%: $16.79
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: $851.82
Costs to cover: 0.190%
Break-even: 0.0 days

Slippage unknown: Hyperliquid: live order book, 9 min ago; BingX: live order book, 6 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 Hyperliquid live order book, 9 min ago	1.29 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	3.83 bp	23.4 bp −$23	82.0 bp −$820	555.6 bp −$55.6K	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_SAGAUSD	−0.0702%	1h	0.03962	+0.427%	$70K	$642K	20x	as long as short
Hyperliquid SAGAlong	−0.0381%	1h	0.03945	long leg	$2.2M	$258K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03961	+0.404%	$70K	$768K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03968	+0.576%	$19.5M	$100.0M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03981	+0.913%	$6.0M	$7.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03967	+0.558%	$2.6M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03962	+0.431%	$770K	$2.6M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03966	+0.542%	$5K	$131K	5x	as long as short
BloFin SAGA-USDT	+0.0138%	4h	0.03944	−0.025%	$988K	$213K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0248%	1h	0.03951	+0.152%	$45K	$390K	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	+0.0273%	4h	0.03926	−0.486%	$4K	$45K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1774%	1h	0.03961	+0.406%	$3K	$28	10x	as long as short
Bybit SAGAUSDT	+0.2081%	4h	0.03974	+0.730%	$3.9M	$14.3M	20x	as long as short
BingX SAGA-USDTshort	+0.3686%	4h	0.03960	+0.380%	—	$2.0M	—