Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0952%/8h= −104.2% APRpaid last 24h −0.089%

Price spread now: Kraken Futures against Aster−0.028%7-day average −0.098% · 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−$151as in the Price arb table

costs, in and out, $10k−$1581.578% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−1.385%−$139 on $10k

Price spread, last 4 days (all we have)−1.124%−$112 · spread now −0.028%, 7d avg −0.098%

Together, before fees−2.509%+ Points / potential airdropAster: Stage 5 · farm board−$251 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.069% dearer against Aster than usual: you sell high and buy low (spread −0.028% now, against its 7-day average of −0.098%): +$7 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03936	0.0100	pay 0.0050% / 4h	1h 07m	$60K	$552K	5x
Short	Kraken Futures PF_SAGAUSD	0.03935	−0.0852	pay 0.0106% / 1h	7m 45s	$73K	$467K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$199.9
Price spread: −0.028% → −0.098%: $6.94
Slippage, 4 orders: −$139.85
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$350.8
Costs to cover: 1.578%
Break-even: never at this rate

Slippage from Aster: live order book, 38 min ago; Kraken Futures: live order book, 38 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, 38 min ago	7.68 bp	21.8 bp −$22	244.1 bp −$2,441	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 38 min ago	28.20 bp	59.3 bp −$59	doesn't fit	doesn't fit	doesn't fit

SAGA on 14 exchanges

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	−0.0852%	1h	0.03935	−0.028%	$73K	$467K	20x
BloFin SAGA-USDT	+0.0064%	4h	0.03928	−0.215%	$984K	$255K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03932	−0.114%	$2.1M	$199K	3x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03936	long leg	$60K	$552K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03938	+0.039%	$19.0M	$85.2M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03939	+0.074%	$3.7M	$14.4M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03937	+0.013%	$2.7M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03939	+0.064%	$763K	$2.3M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03940	+0.090%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03954	+0.435%	$4K	$24K	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03937	+0.007%	$306	$183K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.03861	−1.917%	$38K	$318K	25x	as long as short
Gate SAGA_USDT	+0.0512%	4h	0.03953	+0.420%	$6.0M	$6.8M	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1022%	1h	0.03937	+0.013%	$3K	$124	10x	as long as short