Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h −0.154%

Price spread now: Coinbase International against Binance+0.394%7-day average −1.315% · you sell dearer than you buy

Net, funding: paid 7d − costs−$848as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$3963.962% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−4.514%−$451 on $10k

Price spread, last 4 days (all we have)−0.629%−$63 · spread now +0.394%, 7d avg −1.315%

Together, before fees−5.143%−$514 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 1.709% dearer against Binance than usual: you sell high and buy low: +$171 more if the spread goes back to its 7-day average of −1.315%. Mind the row above: over the last 7 days funding on this pair cost −4.514%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SAGAUSDT	0.04144	0.0100	pay 0.0050% / 4h	3h 31m	$20.3M	$95.8M	20x
Short	Coinbase International SAGA-PERP-INTX	0.04160	0.0440	get 0.0055% / 1h	31m 59s	$42K	$385K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.394%Rate

Funding earned: $71.4
Price spread: +0.394% → −1.315%: $170.88
Slippage, 4 orders: −$376.17
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$153.88
Costs to cover: 3.962%
Break-even: 22.1 days

Slippage from Binance: live order book, 11 min ago; Coinbase International: live order book, 1 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 Binance live order book, 11 min ago	1.19 bp	20.5 bp −$20	103.5 bp −$1,035	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	19.27 bp	96.5 bp −$96	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	−0.0846%	1h	0.04139	−0.104%	$78K	$530K	20x	as long as short
KuCoin SAGAUSDTM	+0.0024%	4h	0.04145	+0.032%	$819K	$2.6M	20x	as long as short
BloFin SAGA-USDT	+0.0057%	4h	0.04141	−0.065%	$1.0M	$283K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.04139	−0.113%	$2.3M	$250K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04147	+0.077%	$75K	$664K	5x	as long as short
Binance SAGAUSDTlong	+0.0100%	4h	0.04144	long leg	$20.3M	$95.8M	20x
Bybit SAGAUSDT	+0.0100%	4h	0.04137	−0.152%	$4.0M	$15.1M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04162	+0.442%	$6.3M	$7.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04143	−0.016%	$2.8M	$4.3M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.04148	+0.104%	—	$1.9M	—	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	0.04193	+1.181%	$4K	$42K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04148	+0.107%	$5K	$183K	5x	as long as short
Coinbase International SAGA-PERP-INTXshort	+0.0440%	1h	0.04160	+0.394%	$42K	$385K	25x
Deribit SAGA_USDC-PERPETUAL	+0.0957%	1h	0.04149	+0.128%	$3K	$124	10x	as long as short