Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.167%

Price spread now: Hyperliquid against Aster−0.484%7-day average −0.230% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1241.240% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.721%−$72 on $10k

Price spread, last 4 days (all we have)+0.428%+$43 · spread now −0.484%, 7d avg −0.230%

Together, before fees−0.293%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$29 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: Hyperliquid is 0.255% cheaper against Aster than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.230%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03923	0.0100	pay 0.0050% / 4h	3h 13m	$70K	$878K	5x
Short	Hyperliquid SAGA	0.03904	0.0100	get 0.0013% / 1h	13m 56s	$2.2M	$302K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now −0.484%Rate

Funding earned: $0
Price spread: −0.484% → −0.230%: −$25.47
Slippage, 4 orders: −$106.97
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$149.44
Costs to cover: 1.240%
Break-even: never at this rate

Slippage from Aster: live order book, 54 min ago; Hyperliquid: live order book, 7 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, 54 min ago	12.76 bp	33.3 bp −$33	208.2 bp −$2,082	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.29 bp	16.9 bp −$17	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_SAGAUSD	−0.0692%	1h	0.03916	−0.171%	$70K	$683K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03870	−1.351%	$46K	$422K	25x	as long as short
BloFin SAGA-USDT	+0.0091%	4h	0.03883	−1.020%	$988K	$329K	20x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03904	−0.484%	$2.2M	$302K	3x
Aster SAGAUSDTlong	+0.0100%	4h	0.03923	long leg	$70K	$878K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03929	+0.153%	$19.4M	$123.1M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03942	+0.484%	$6.0M	$8.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03926	+0.076%	$2.6M	$6.0M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03928	+0.127%	$777K	$2.9M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03928	+0.131%	$2K	$134K	5x	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	+0.0235%	4h	0.03881	−1.080%	$4K	$91K	—	as long as short
Bybit SAGAUSDT	+0.0806%	4h	0.03933	+0.257%	$3.8M	$16.6M	20x	as long as short
BingX SAGA-USDT	+0.0854%	4h	0.03926	+0.076%	—	$2.1M	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1030%	1h	0.03911	−0.306%	$3K	$28	10x	as long as short