Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: MEXC against Aster−0.055%7-day average +0.015% · 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−$107as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on Aster Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.261%−$26 · spread now −0.055%, 7d avg +0.015%

Together, before fees−0.307%+ Points / potential airdropAster: Stage 5 · farm board−$31 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: MEXC is 0.070% cheaper against Aster than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SAGAUSDT	0.03929	0.0100	pay 0.0050% / 4h	1h 52m	$70K	$567K	5x
Short	MEXC SAGA_USDT	0.03927	0.0100	get 0.0050% / 4h	1h 52m	$2.7M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.015%: −$7.03
Slippage, 4 orders: −$88.25
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$107.28
Costs to cover: 1.002%
Break-even: never at this rate

Slippage from Aster: live order book, 58 min ago; MEXC: live order book, 3 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, 58 min ago	9.99 bp	26.3 bp −$26	256.1 bp −$2,561	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.27 bp	15.9 bp −$16	74.2 bp −$742	614.1 bp −$61.4K	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_SAGAUSD	−0.0854%	1h	0.03926	−0.084%	$72K	$469K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03914	−0.386%	$2.1M	$203K	3x	as long as short
Aster SAGAUSDTlong	+0.0100%	4h	0.03929	long leg	$70K	$567K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03927	−0.052%	$19.1M	$86.9M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03930	+0.026%	$3.7M	$14.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03945	+0.403%	$6.0M	$6.8M	20x	as long as short
MEXC SAGA_USDTshort	+0.0100%	4h	0.03927	−0.055%	$2.7M	$4.0M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.03929	−0.004%	$774K	$2.4M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03931	+0.047%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03921	−0.214%	$4K	$32K	—	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	0.03926	−0.085%	$2K	$181K	5x	as long as short
BloFin SAGA-USDT	+0.0153%	4h	0.03931	+0.047%	$986K	$256K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.03922	−0.182%	$39K	$331K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0514%	1h	0.03931	+0.047%	$3K	$124	10x	as long as short