Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.052%

Price spread now: BingX against MEXC−0.070%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$830.834% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days+0.165%+$16 · spread now −0.070%, 7d avg +0.035%

Together, before fees+0.222%+$22 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: BingX is 0.104% cheaper against MEXC than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.04293	0.0100	pay 0.0050% / 4h	1h 23m	$3.2M	$4.4M	50x
Short	BingX SAGA-USDT	0.04290	0.0100	get 0.0050% / 4h	1h 23m	—	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → +0.035%: −$10.44
Slippage, 4 orders: −$69.38
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$93.82
Costs to cover: 0.834%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; BingX: live order book, 5 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 MEXC live order book, 4 min ago	2.34 bp	16.4 bp −$16	119.2 bp −$1,192	720.8 bp −$72.1K	doesn't fit
Sell BingX live order book, 5 min ago	4.70 bp	22.8 bp −$23	116.1 bp −$1,161	466.9 bp −$46.7K	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
Hyperliquid SAGA	−0.2318%	1h	0.04254	−0.908%	$2.3M	$261K	3x	as long as short
Kraken Futures PF_SAGAUSD	−0.0597%	1h	0.04291	−0.044%	$80K	$565K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04295	+0.048%	$63K	$714K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04297	+0.092%	$21.2M	$99.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04302	+0.210%	$6.5M	$7.5M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.04293	long leg	$3.2M	$4.4M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.04295	+0.047%	$959K	$2.6M	20x	as long as short
BingX SAGA-USDTshort	+0.0100%	4h	0.04290	−0.070%	—	$2.0M	—
BloFin SAGA-USDT	+0.0103%	4h	0.04252	−0.955%	$1.1M	$286K	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04291	−0.048%	$4K	$174K	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	+0.0188%	4h	0.04294	+0.016%	$4.3M	$14.9M	20x	as long as short
Variational Omni SAGA	+0.0216%	4h	0.04235	−1.354%	$6K	$42K	—	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.04290	−0.070%	$46K	$409K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1148%	1h	0.04296	+0.070%	$4K	—	10x	as long as short