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 +0.230%

Price spread now: Gate against Coinbase International+0.683%7-day average +1.518% · you sell dearer than you buy

Net, funding: paid 7d − costs−$388as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,009as in the Price arb table

costs, in and out, $10k−$9259.253% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+5.378%+$538 on $10k

Price spread, last 4 days (all we have)−0.215%−$21 · spread now +0.683%, 7d avg +1.518%

Together, before fees+5.163%+$516 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Gate is 0.834% cheaper against Coinbase International than usual: you would sell low and buy high (−$83 if the spread goes back to its 7-day average of +1.518%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +5.378%, 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	0.03951	0.0440	pay 0.0055% / 1h	2m 08s	$40K	$357K	25x
Short	Gate SAGA_USDT	0.03978	0.0100	get 0.0050% / 4h	3h 02m	$6.0M	$7.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.683%Rate

Funding earned: −$71.4
Price spread: +0.683% → +1.518%: −$83.42
Slippage, 4 orders: −$900.31
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,080.13
Costs to cover: 9.253%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 31 min ago; Gate: 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 Coinbase International live order book, 31 min ago	19.27 bp	251.4 bp −$251	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.52 bp	179.4 bp −$179	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	−0.0886%	1h	0.03954	+0.087%	$75K	$506K	20x	as long as short
KuCoin SAGAUSDTM	+0.0088%	4h	0.03967	+0.405%	$779K	$2.5M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03959	+0.202%	$2.2M	$239K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03965	+0.353%	$73K	$632K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03960	+0.239%	$19.4M	$92.5M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03957	+0.154%	$3.8M	$14.9M	20x	as long as short
Gate SAGA_USDTshort	+0.0100%	4h	0.03978	+0.683%	$6.0M	$7.2M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03962	+0.278%	$2.7M	$4.4M	50x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03964	+0.329%	—	$1.9M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03992	+1.048%	$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	0.03963	+0.304%	$333	$183K	5x	as long as short
BloFin SAGA-USDT	+0.0121%	4h	0.03932	−0.481%	$1.0M	$267K	20x	as long as short
Coinbase International SAGA-PERP-INTXlong	+0.0440%	1h	0.03951	long leg	$40K	$357K	25x
Deribit SAGA_USDC-PERPETUAL	+0.1264%	1h	0.03969	+0.456%	$3K	$124	10x	as long as short