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 −0.046%

Price spread now: Aster against Bybit−0.131%7-day average −0.075% · 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−$175as in the Price arb table

costs, in and out, $10k−$1701.696% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.131%, 7d avg −0.075%

Together, before fees+0.019%+ Points / potential airdropAster: Stage 5 · farm board+$2 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: Aster is 0.056% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SAGAUSDT	0.03966	0.0100	pay 0.0050% / 4h	3h 02m	$3.8M	$14.9M	20x
Short	Aster SAGAUSDT	0.03960	0.0100	get 0.0050% / 4h	3h 02m	$73K	$632K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → −0.075%: −$5.61
Slippage, 4 orders: −$150.6
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$175.21
Costs to cover: 1.696%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; Aster: live order book, 25 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 Bybit live order book, 6 min ago	2.38 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 25 min ago	6.11 bp	50.9 bp −$51	233.8 bp −$2,338	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	−0.0887%	1h	0.03948	−0.430%	$74K	$506K	20x	as long as short
KuCoin SAGAUSDTM	+0.0084%	4h	0.03959	−0.164%	$777K	$2.5M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03956	−0.240%	$2.2M	$239K	3x	as long as short
Aster SAGAUSDTshort	+0.0100%	4h	0.03960	−0.131%	$73K	$632K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03958	−0.187%	$19.3M	$92.4M	20x	as long as short
Bybit SAGAUSDTlong	+0.0100%	4h	0.03966	long leg	$3.8M	$14.9M	20x
Gate SAGA_USDT	+0.0100%	4h	0.03968	+0.063%	$6.0M	$7.2M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03960	−0.139%	$2.7M	$4.4M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03958	−0.189%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03992	+0.678%	$4K	$33K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03957	−0.221%	$331	$183K	5x	as long as short
BloFin SAGA-USDT	+0.0121%	4h	0.03932	−0.845%	$1.0M	$267K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0440%	1h	0.03950	−0.391%	$40K	$357K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1522%	1h	0.03958	−0.189%	$3K	$124	10x	as long as short