Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h +0.227%

Price spread now: Aster against Coinbase International+0.310%7-day average +1.338% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$523as in the Price arb table

costs, in and out, $10k−$4204.204% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+3.596%+$360 on $10k

Price spread, last 4 days (all we have)−0.778%−$78 · spread now +0.310%, 7d avg +1.338%

Together, before fees+2.818%+ Points / potential airdropAster: Stage 5 · farm board+$282 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 1.029% cheaper against Coinbase International than usual: you would sell low and buy high (−$103 if the spread goes back to its 7-day average of +1.338%). Swap the legs. Mind the row above: over the last 6 days funding on this pair paid +3.596%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.04180	0.0176	pay 0.0022% / 1h	13m 00s	$46K	$401K	25x
Short	Aster SAGAUSDT	0.04193	0.0100	get 0.0050% / 4h	2h 13m	$71K	$727K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +0.310%Rate

Funding earned: −$15.96
Price spread: +0.310% → +1.338%: −$102.87
Slippage, 4 orders: −$402.42
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$539.25
Costs to cover: 4.204%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 35 min ago; Aster: live order book, 30 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 Coinbase International live order book, 35 min ago	59.10 bp	225.2 bp −$225	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 30 min ago	18.83 bp	42.7 bp −$43	323.4 bp −$3,234	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
Hyperliquid SAGA	−0.0037%	1h	0.04179	−0.024%	$2.3M	$258K	3x	as long as short
Kraken Futures PF_SAGAUSD	+0.0092%	1h	0.04181	+0.035%	$78K	$615K	20x	as long as short
Aster SAGAUSDTshort	+0.0100%	4h	0.04193	+0.310%	$71K	$727K	5x
Binance SAGAUSDT	+0.0100%	4h	0.04199	+0.455%	$20.8M	$97.4M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04200	+0.478%	$6.3M	$7.7M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04190	+0.239%	$3.0M	$4.2M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04185	+0.120%	$830K	$2.5M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04187	+0.162%	$4K	$192K	5x	as long as short
BloFin SAGA-USDT	+0.0154%	4h	0.04183	+0.072%	$1.1M	$212K	20x	as long as short
Coinbase International SAGA-PERP-INTXlong	+0.0176%	1h	0.04180	long leg	$46K	$401K	25x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0236%	4h	0.04202	+0.526%	$4.1M	$14.4M	20x	as long as short
BingX SAGA-USDT	+0.0326%	4h	0.04194	+0.335%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0474%	4h	0.04187	+0.171%	$6K	$46K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0944%	1h	0.04193	+0.311%	$3K	—	10x	as long as short