Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0786%/8h= −86.1% APRpaid last 24h −0.118%

Price spread now: Kraken Futures against Variational Omni−0.168%7-day average +0.022% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.629%−$63 on $10k

Price spread, last 3 days (all we have)−0.567%−$57 · spread now −0.168%, 7d avg +0.022%

Together, before fees−1.197%+ Points / potential airdropVariational Omni: Active · farm board−$120 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Kraken Futures is 0.190% cheaper against Variational Omni than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SAGA	0.03960	0.0100	pay 0.0050% / 4h	3h 51m	$4K	$107K	—
Short	Kraken Futures PF_SAGAUSD	0.03953	−0.0686	pay 0.0086% / 1h	51m 29s	$71K	$687K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$165.04
Price spread: −0.168% → +0.022%: −$19.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$194.06
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 22 min ago; Kraken Futures: live order book, 22 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 Variational Omni RFQ quote, 22 min ago	3.82 bp	doesn't fit	138.8 bp −$1,388	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 22 min ago	26.78 bp	65.3 bp −$65	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
Kraken Futures PF_SAGAUSDshort	−0.0686%	1h	0.03953	−0.168%	$71K	$687K	20x
KuCoin SAGAUSDTM	+0.0032%	4h	0.03956	−0.089%	$782K	$3.1M	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03962	+0.063%	$48K	$434K	25x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03947	−0.316%	$2.2M	$339K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03956	−0.080%	$71K	$884K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03961	+0.036%	$19.6M	$129.0M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03966	+0.171%	$3.8M	$17.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03978	+0.467%	$6.1M	$8.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03956	−0.089%	$2.7M	$5.9M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03969	+0.240%	—	$2.1M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGAlong	+0.0100%	4h	0.03960	long leg	$4K	$107K	—
BloFin SAGA-USDT	+0.0101%	4h	0.03972	+0.315%	$996K	$382K	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03960	+0.022%	$4K	$162K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1014%	1h	0.03960	+0.012%	$3K	$28	10x	as long as short