Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.836%

Price spread now: Coinbase International against Aster+0.240%7-day average −1.473% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$3633.632% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−3.588%−$359 on $10k

Price spread, last 3 days (all we have)+0.219%+$22 · spread now +0.240%, 7d avg −1.473%

Together, before fees−3.369%+ Points / potential airdropAster: Stage 5 · farm board−$337 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 1.713% dearer against Aster than usual: you sell high and buy low (spread +0.240% now, against its 7-day average of −1.473%): +$171 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 5 days (−3.588% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03801	0.0100	pay 0.0050% / 4h	2h 10m	$68K	$973K	5x
Short	Coinbase International SAGA-PERP-INTX	0.03810	−0.0288	pay 0.0036% / 1h	10m 39s	$49K	$437K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.240%Rate

Funding earned: −$81.48
Price spread: +0.240% → −1.473%: $171.35
Slippage, 4 orders: −$345.15
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$273.28
Costs to cover: 3.632%
Break-even: never at this rate

Slippage from Aster: live order book, 7 min ago; Coinbase International: live order book, 12 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 Aster live order book, 7 min ago	17.87 bp	33.7 bp −$34	262.4 bp −$2,624	doesn't fit	doesn't fit
Sell Coinbase International live order book, 12 min ago	25.38 bp	117.8 bp −$118	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
Coinbase International SAGA-PERP-INTXshort	−0.0288%	1h	0.03810	+0.240%	$49K	$437K	25x
Hyperliquid SAGA	−0.0278%	1h	0.03790	−0.286%	$2.1M	$345K	3x	as long as short
BloFin SAGA-USDT	+0.0066%	4h	0.03825	+0.635%	$999K	$495K	20x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03801	long leg	$68K	$973K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03807	+0.159%	$18.9M	$146.0M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03807	+0.174%	$3.7M	$20.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03814	+0.345%	$5.9M	$9.5M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03804	+0.082%	$2.6M	$6.8M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03805	+0.109%	$850K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03808	+0.187%	—	$2.3M	—	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	+0.0100%	4h	0.03874	+1.919%	$6K	$113K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03806	+0.128%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0541%	1h	0.03795	−0.155%	$3K	$28	10x	as long as short
Kraken Futures PF_SAGAUSD	+0.0979%	1h	0.03792	−0.231%	$75K	$727K	20x	as long as short