Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h −0.227%

Price spread now: Coinbase International against BloFin+0.025%7-day average −1.378% · you sell dearer than you buy

Net, funding: paid 7d − costs−$863as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$4094.088% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−4.539%−$454 on $10k

Price spread, last 4 days (all we have)+1.188%+$119 · spread now +0.025%, 7d avg −1.378%

Together, before fees−3.351%−$335 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 1.403% dearer against BloFin than usual: you sell high and buy low: +$140 more if the spread goes back to its 7-day average of −1.378%. Mind the row above: over the last 7 days funding on this pair cost −4.539%, 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	BloFin SAGA-USDT	0.03960	0.0115	pay 0.0057% / 4h	2h 49m	$987K	$211K	20x
Short	Coinbase International SAGA-PERP-INTX	0.03961	0.0176	get 0.0022% / 1h	49m 03s	$44K	$377K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.025%Rate

Funding earned: $12.83
Price spread: +0.025% → −1.378%: $140.32
Slippage, 4 orders: −$386.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$255.69
Costs to cover: 4.088%
Break-even: 146.5 days

Slippage from BloFin: live order book, 3 min ago; Coinbase International: live order book, 64 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 BloFin live order book, 3 min ago	2.50 bp	29.1 bp −$29	118.6 bp −$1,186	doesn't fit	doesn't fit
Sell Coinbase International live order book, 64 min ago	61.66 bp	144.5 bp −$145	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	+0.0097%	1h	0.03965	+0.119%	$74K	$622K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03949	−0.278%	$2.2M	$254K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03974	+0.342%	$69K	$737K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03978	+0.451%	$19.6M	$97.0M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03978	+0.455%	$6.0M	$7.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03971	+0.278%	$2.6M	$4.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03967	+0.177%	$762K	$2.5M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03976	+0.412%	$2K	$191K	5x	as long as short
BloFin SAGA-USDTlong	+0.0115%	4h	0.03960	long leg	$987K	$211K	20x
Coinbase International SAGA-PERP-INTXshort	+0.0176%	1h	0.03961	+0.025%	$44K	$377K	25x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0622%	4h	0.03965	+0.126%	$4K	$45K	—	as long as short
Bybit SAGAUSDT	+0.0750%	4h	0.03981	+0.520%	$3.9M	$14.2M	20x	as long as short
BingX SAGA-USDT	+0.0830%	4h	0.03973	+0.328%	—	$1.9M	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1264%	1h	0.03968	+0.202%	$3K	—	10x	as long as short