Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0365%/8h= +40.0% APRpaid last 24h +0.061%

Price spread now: BloFin against Kraken Futures+0.081%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs+$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1661.662% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.975%+$197 on $10k

Price spread, last 4 days (all we have)−0.597%−$60 · spread now +0.081%, 7d avg 0.000%

Together, before fees+1.377%+$138 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and BloFin is 0.081% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SAGAUSD	0.03849	−0.0267	get 0.0033% / 1h	35m 10s	$68K	$645K	20x
Short	BloFin SAGA-USDT	0.03852	0.0098	get 0.0049% / 4h	35m 10s	$989K	$211K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now +0.081%Rate

Funding earned: $76.62
Price spread: +0.081% → 0.000%: $8.07
Slippage, 4 orders: −$144.22
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$81.54
Costs to cover: 1.662%
Break-even: 14.4 days

Slippage from Kraken Futures: live order book, 23 min ago; BloFin: live order book, 37 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 Kraken Futures live order book, 23 min ago	40.78 bp	60.1 bp −$60	433.7 bp −$4,337	doesn't fit	doesn't fit
Sell BloFin live order book, 37 min ago	11.58 bp	23.3 bp −$23	73.0 bp −$730	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
Kraken Futures PF_SAGAUSDlong	−0.0267%	1h	0.03849	long leg	$68K	$645K	20x
Hyperliquid SAGA	−0.0007%	1h	0.03825	−0.621%	$2.1M	$266K	3x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03860	+0.289%	$44K	$376K	25x	as long as short
BloFin SAGA-USDTshort	+0.0098%	4h	0.03852	+0.081%	$989K	$211K	20x
Aster SAGAUSDT	+0.0100%	4h	0.03851	+0.047%	$69K	$768K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03856	+0.185%	$19.0M	$102.2M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03857	+0.211%	$5.9M	$7.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03855	+0.159%	$2.5M	$4.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03845	−0.101%	$764K	$2.6M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03853	+0.107%	$7K	$135K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0162%	4h	0.03858	+0.234%	$3.8M	$14.4M	20x	as long as short
BingX SAGA-USDT	+0.0188%	4h	0.03853	+0.107%	—	$2.0M	—	as long as short
Variational Omni SAGA	+0.0191%	4h	0.03855	+0.170%	$4K	$48K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1308%	1h	0.03856	+0.185%	$3K	$28	10x	as long as short